The New Arabian Dream
by Max Schwing
We have heard all kinds of comments about Muslims and the beliefs of Islam. Polls demonstrate their disgust with Western societies and the U.S., and that they are in favour of imposing Sharia law upon their states. Political commentators argue that their beliefs are not compatible with a peaceful way of life, and that Islam is unable to coexist with a liberal capitalist environment. These commentators forget one small wonder of the Arabian world: The United Arabian Emirates.
In the UAE, six monarchies (or quasi-monarchies) have integrated liberal free-market regimes, individual freedom, and a peaceful Islamic religion into a model state. One could say that Dubai is the climax of a series of free-market city-states that began with Hong Kong and Singapore. Each of these three countries have something in common: they have almost no resources (the oil reserves for Dubai are projected to run dry in twenty years), but have had the foresight to use free markets to secure a special place amongst the world's nations.
Dubai is essentially a quasi-monarchy that is run like a big company. Anyone who buys real estate there gets free citizenship. These citizens enjoy an economy with almost no taxes and stunning growth (seven percent annual increases in GDP are common). It is an environment that inspires the best in men.
You want an example?
They are going to build the tallest building in the world, a masterpiece of technical engineering and architecture: The Burj Tower, which rise over 600 meters. They have undertaken projects that are not only original, but also in high demand, like a replication of the entire earth's geography with a number of small islands, which are sold to interested individuals. In twenty years, when Dubai can no longer produce oil, it will still be a prosperous and thriving place because, even today, the oil business is only one third of Dubai’s economy. And meanwhile, they are pursuing these visionary projects and resisting theft-via-taxation. The sheiks lead their little monarchy like a corporation. One might say that, as with any monarchy, the next ruler might be a wacko who destroys everything. But the whole relationship in Dubai is a bit different. The sheik family rules their “empire” more like an economist than a dictator, while the people are more like shareholders than oppressed men and women.
When it comes to religion, Dubai is very tolerant, perhaps because of the wealth and the laissez-faire that this tolerance makes possible. There are many different forms of Islam, just as Westerners have adopted a variety of belief systems. Nothing is handled as strictly as we have so often observed in other Muslim countries like Iran, Iraq, Afghanistan or Saudi Arabia. For instance, women can display their beauty at the malls—they wear the traditional black dress, but it is so translucent that it almost shows everything. This would be an offence in any other Muslim country, but is a regular sight in Dubai. It would seem that Islam can be integrated into a peaceful environment, but only with the help of capitalism and individual rights.
Of course, there are still many improvements for Dubai to make, but it is the most peaceful and modern integration of Islamic beliefs in any form of capitalist country. Dubai is more like a "liberal protostate" than any other of the former third world countries.
There is one last fact that should pique the interest of any libertarian or Objectivist. Dubai doesn’t invest its money into dollars or Euros, but rather in a currency that is objective: gold.
Check it out, because I think that you will never get land in this country as cheap as it is now.
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