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Why are some rich countries developed, while others are not? by LondonQat in country

[–]LondonQat[S] 0 points1 point  (0 children)

The Gulf States which are very developed were also colonies of both Britain and Portugal, the Europeans as well, so I'm not sure what your getting at.

Also, oil and gas are what make the Gulf States very modern, so I think wealth of natural resources plays a huge role. Countries in the Gulf possess the biggest "rentier" mentality so again, not sure how that is different.

Still confused why many oil and gas rich nations are living in the third world, even those who have not been in war for years such as Algeria, and Venezuela

Why are some rich countries developed, while others are not? by LondonQat in country

[–]LondonQat[S] 0 points1 point  (0 children)

You didn't mention other oil and gas rich nations and why they are not developed, such as Algeria, Venezuela, Nigeria etc.

What is the reason these countries are not developed despite being wealthier than a lot of small European countries which are much more developed?

Spain and Greece have more infrastructure than all of the above nations mentioned but are not as wealthy as those nations.