Islam's greatness came from the Silk Road. When the Portuguese saw they can sail down the coast of Africa and to Asia for trade and then the Spanish followed, the Silk Road well, dried up. Up until then, they were the leader in the world economy, culture, the arts, math, sciences... Everything. The only European country that had reading and writing at the time was Spain. Moorish Spain. It's hard to believe, but the rest of Europe didn't even have writing at the time, other than Venice. Literally. Most of Europe lived in huts made out of mud and thatch.
Saudi Arabia's economy is hardly largely dependent on slavery.
I didn't say that the Jews created market economy, I said they were the ones doing it when the rest of Europe did not know how. Market economy was introduced to parts of Europe by the Romans. The British model is the London model and London was established by Rome. Paris was established by Rome. Cologne was established by Rome. The hinterlands, the barbarians, that was Europe, before they were domesticated by Rome.
And no, not even small countries could have booming economies because they never did, well, not until after World War II when Truman decided to remake the world in the face of America. It's not an accident that the only countries that had growing economies happen to be those who followed Portugal and Spain and started ransacking the rest of the planet. Namely, Britain, France, the Netherlands, Germany. Netherlands did not become an economic powerhouse because of the tulip trade. The tulip trade was big, but that's not what put them on the map. Germany did not become an economic powerhouse because of its wienerschnitzel exports. People like champagne, but that's not what made France rich.
Those countries made their money from stealing resources from Africa, Asia, and the Americas. Once they lost those colonies, they lost their economic drivers. Tell people that the Netherlands and Portugal used to be amongst the richest nations in history and see how long it takes for them to stop laughing. The Netherlands, a world power? Spain used to be the mightiest country in the world? It took just four centuries for them to boom and then bust. And if it wasn't for the United States of America, one need just look at Romania before Communism fell to see what Europeans lived like until World War II ended. Mud huts, and if you wanted to go to town, you asked your uncle if you could borrow the donkey. That was most of Europe until the 1950s.