Indonesia is the largest Muslim nation on the planet and they don't appear to be hell bent on this kind of thing.
Most Muslim nations are not theocracies, but Islam is most definitely the state religion. And I think that the Saudis and their ilk would disagree with you - they want to be rich, but to do so they have to use religion to control the population, not the other way around.
Also: read ANY theocracy in there. Because that is the point of a theocracy. Muslim has nothing to do with that.
Meh. I'm pretty sure I referred specifically to Islamic theocracy. As far as Saudi goes....when have they not been controlled through religion? Even before any sniff of modern industrialization and global trade networks they were ran by their religion.
It has nothing to do with the fact that the Muslim nations are generally poor, uneducated, and run by people with no interest in the well being of their citizens, and need an external force to blame for their problems which the fundamentalist nuts are more than happy to provide in order to get ground troops for their escapades.
Or it could be Islamic theocracies in general have never flourished primarily because their aim isn't to gain economic sustainability, but rather to control and convert their population according to the Koran.