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The article talks about trying to diversify the economy away from oil production.
While that's certainly fine when it's driven by entrepreneurs hunting profit, it's a loser for central planners.
Comparative advantage is just a description of your greatest profit potential and that seems to be oil and gas for the Saudi economy.
The article talks about trying to diversify the economy away from oil production.
While that's certainly fine when it's driven by entrepreneurs hunting profit, it's a loser for central planners.
Comparative advantage is just a description of your greatest profit potential and that seems to be oil and gas for the Saudi economy.