Law Commons^™

The World’S Affluent Playground: Dubai’S Architecture Of Doom And The Future Of Globalized Social Reproduction, Timothy Dimuzio

Faculty of Law, Humanities and the Arts - Papers (Archive)

During the two major oil price spikes in the 1970s, dollars earned from Middle Eastern oil were largely recycled through banks in the United States and Britain. Much of this money would go to finance a burgeoning arms trade and a number of highly dubious ‘development’ projects that eventually contributed to what was then called the ‘Third World debt crisis’. In the post-911 world, a renewed and dramatic spike in the price of oil encouraged similar activities and a similar crisis. There are, however, considerable differences worth exploring. One such difference is how the Emir of Dubai, with the knowledge …