[14] 3) Azerbaijan, in his view, is a classic Middle Eastern petrostate, which will eventually sink into its legitimate place among the impoverished Muslim nations with the end of oil boom, as is predetermined by its culture, endemic corruption and lack of industrial endowment.

[15] 4) As for Central Asia, the main argument in his publications has been the futility of Western efforts to impose there the democratic values of European civilization, since democracy in Muslim nations inevitably leads to election and entrenchment of Islamofascism, as was proven by American intervention in other Islamic countries.

[16] The most outstanding work of Alec Rasizade, which gained an international acclaim, was the eponymous algorithm of decline theory, described in his 2008 article at the peak of oil prices, when nothing foreshadowed their steep fall and the subsequent onset of global economic recession with irreversible consequences for oil-exporting nations.

[19] Exactly at that moment came out of press the aforementioned article, in which Rasizade explained the chain reaction of an unavoidable sequence of events in the process of impoverishment, degradation and decline in living standards of nations whose welfare depends on the export of natural resources, when one change inevitably entails another.

[20] Rasizade's algorithm may be described succinctly as the following chain reaction (domino effect): a decline in oil production or a drop in the price of oil translates into a synchronous fall in the inflow of petrodollars, which results in the collapse of treasury's revenues and expenditures, which leads to devaluation of the local currency, which ensues (in a free market) a tumble in prices of goods, services and real estate in dollar terms, which squeezes the tax base, which entails the redundancy of government bureaucracy, nationwide layoffs and bankruptcies in the private sector, which further squeezes the tax base, which results in cutting wages and social benefits, which causes mass unemployment and impoverishment of the populace, which triggers a growing dissatisfaction of power elite, which brings about a regime change with redistribution of wealth and property.