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4.5 Impact of Rents

This week we will look at the Gulf Monarchies, especially at Saudi Arabia. The impact of essentially free oil income defines the social and governmental structure of this sub-region, so we will focus on the character of so-called rentier economies and their socio-political impact. These countries represent the third broad approach to modernity, namely Traditionalism, that is the notion that there is no need to change inherited socio-political structures.

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