Why The Gulf States Need To Keep Building Big Dumb Mega Projects | Economics Explained

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Saudi Arabia, Qatar, the UAE and other oil rich Middle Eastern states have announced plans to collectively invest trillions of dollars in new megaprojects, the most extreme of which is Saudi Arabia's $1 trillion 170km skyscraper called The Line. Why are these countries spending so much on mega projects and does it make any economic sense?

0:00 - 2:33 Intro
2:34 - 3:23 Trends
3:24 - 6:06 Dutch disease
6:07 - 10:25 Rybezynski's theorem
10:26 - 11:49 Dependence on oil
11:50 - 12:48 Norway example
12:49 - 13:50 Sovereign wealth funds
13:51 - 16:10 Mega projects
16:11 - 17:19 Tourism
17:20 Attracting businesses

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