I always bet on entrepreneurs and free markets over kingdoms and dictatorships. The Sultan got things set up a certain away and assumed nothing would change, while the free West just responds and innovates no matter circumstances.
I don't know about all of that. We got lucky to have such rich natural resources within our borders. All of the innovation and entrepreneurship in the world wouldn't have helped much if a bunch of plants and dinosaurs didn't happen to die and get buried in a geologically fortuitous way.