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Published online by Cambridge University Press: 29 January 2009
Today we are witnessing a very rare phenomenon in world history: a state suddenly deluged with an apparently inexhaustible amount of wealth as occurred in sixteenth-century Spain and Portugal when the riches of the New World flowed to the Iberian peninsula. Now the ‘black gold’ under the sands of the Arabian desert has provided one of the most underpopulated and under developed regions of the world with an equivalent bonanza. The new wealth of Spain helped to ruin that country. What will be the fate of Saudi Arabia and its small neighbors?
1 National Science and Technology Policies in the Arab States, UNESCO, Science Policy Studies and Documents, No. 38, 1976, p. 153 (hereafter NSTPAS).
2 Ibid.
3 New York Times, 5 June 1975.
4 Final Report, Conference of Ministers of Arab States Responsible for the Application of Science and Technology to Development, Rabat, 16–25 August 1976, p. 16 (hereafter Final Report).
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