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The Curse of Oil Wealth - Arab Countries Pbs Documentaries - Full History of Arabs Documentary

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The Curse of Oil Wealth - Arab Countries pbs documentaries- Full History of Arab Documentary Arab countries Oil Wealth: Treasure and Trouble for the Shah‘s Regime. A Context-sensitive Analysis of the Ambivalent Impact of Resource Abundance http://youtu.be/CtZ7tZxO_mQ While a quick glance reveals glossy achievement and progress, closer scrutiny shows that Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, and Libya are in great danger - danger all the more insidious because it is hidden under an avalanche of wealth. For lack of a more precise word, let us call these desert countries, which have so much oil and so few people, "sheikhdoms." Until a generation or so ago, the sheikhdoms existed in a small world circumscribed by the desert and by Islam. They were backwaters - poor, simple places with nothing to offer the industrialized countries, and little influenced by the modern West. Their way of life had scarcely changed over a millennium. Then oil riches abruptly thrust them into the center of the world economy, tying them totally to it, deluging them with Western culture, and giving them startling economic and political power. The effects of this transformation have been overwhelming; although the sheikhdoms cling to tradition, everything in them has changed. New wealth has compromised the old social institutions and prompted a dangerous reliance on foreign money, labor, and know-how. Wealth (Quotation Subject),Petroleum (Chemical Compound),Documentary,History,Documentary (TV Genre),Culture,America,United States Of America (Country),Arabic Language (Human Language),Arabs (Ethnicity),Arab World (Literature Subject) These negative effects are not without precedent; other windfalls in the past have harmed their beneficiaries. Gold and silver from the New World made Spain rich in the sixteenth century but distorted its economy and weakened it in the long run. Peru had a boom in guano (used for fertilizer) in the mid-nineteenth century, and later Brazil had a rubber boom; these made a few people rich but left no useful legacy - only some gaudy buildings, including an opera house in the Amazon jungle. Gold-rush sites in California and Alaska turned into ghost towns when the mining stopped. The trouble with booms is that they typically bring neither sustained economic growth nor cultural improvements; the riches they create are spent with abandon, disrupting normal behavior, fomenting unrealistic expectations, and inspiring envy. And booms always come to an end.