Capitalism and Class in the Gulf Arab States [Hardcover]

This book analyzes the recent development of Gulf capitalism through to the aftermath of the 2008 economic crisis. Situating the Gulf within the evolution of capitalism at a global scale, it presents a novel theoretical interpretation of this important region of the Middle East political economy.Approaching Class Formation in the Gulf Arab States The Political Economy of Post-War Capitalism and the Making of the Gulf The Development of Capitalism in the Gulf Cooperation Council Towards a Single Global Economy: 1991 to 2008 The Formation of Khaleeji Capital Khaleeji Capital and the Middle East Future Trajectories Appendix A: Khaleeji Capital Groups Appendix B: Ownership of the Largest GCC Banks

Hanieh's groundbreaking book argues that we should not view the Gulf Arab states as anomalies in the worldwide economy. Instead, he claims, the story of twentieth-century capitalism could not be told without recounting their central role: the 'global economy is part of the actual essence of the Gulf itself - the development of the global appears through the development of the Gulf.' ... Within Middle Eastern studies, it provides a challenge to the rentier-state framework - the main paradigm for understanding state-society relations and economic development in the Gulf states-...The book is also a contribution toward understanding Gulf capitalist accumulation on a local and regional scale and the connections between Gulf capitalism and the trajectory of the world capitalist system. Lastly, its examination of over five hundred Gulf Cooperation Council (GCC) companies, financial institutions, and projects provides a wealth of empirical data. - Arab Studies Journal

Hanieh's incisive analysis of the economic realties confronting the GCC and their correlation to the global market offers a fresh perspective on the economic woes of the contemporary world The author's estimation of the 2008 financial crisis and his constant emphasis on the 'interdependenlãž