There's a sad lack of thoughtful comment on the net regarding the rise/fall of Dubai but if you click here you'll be taken to a forum debate that's thought provoking, attacks the intellectual point rather than the poster and, best of all, is completely without contributions from the "If you don't like it, get out" brigade.
The initial article is from an architect and the comments on Dubai are, to put it mildly, scathing eg here's the first paragraph:
"Short of opening a Radio Shack in an Amish town, Dubai is the world’s worst business idea, and there isn’t even any oil. Imagine proposing to build Vegas in a place where sex and drugs and rock and roll are an anathema. This is effectively the proposition that created Dubai - it was a stupid idea before the crash, and now it is dangerous. "
No matter what reaction you may have, its worth reading the full article and continuing through the replies.