What Would Milton Friedman Do in Saudi Arabia?

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Jamal Khashoggi:

Our economy is not entirely directed under the Marxist formula and it is not an absolute free-market economy akin to that of the U.S. It is rather a private and mixed case that is not directed. The state does not interfere in the pricing (with a few non-tax exceptions). The state does not have effective and influential tools, such as a gigantic and free capitalist in the real estate field, but rather it intervenes in the cement and steel market despite the fact that the three should always come together. Some nag about government requirements such as air transport and electricity, and so, there are no pressures on local labor, but it rather causes a pressure on the economy through unemployment, poverty and the erosion of the middle class.

I think that it is time for Saudi economists to be the final decision-makers, and it is time to give them a free space in the media, so we would convert into a normal economy that can survive with or without the oil revenues.

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