Boom, Bust and Boom in Dubai

by Pete Moore | published June 9, 2014 - 10:28am

It’s easy to be critical of Dubai and its socioeconomic model.

Brett, International Money and Capitalist Crisis

by Karen Pfeifer
published in MER122

E. A. Brett, International Money and Capitalist Crisis: The Anatomy of Global Disintegration (Boulder, CO: Westview Press, 1983).

Please Subscribe to access the full contents of this article.

Turkey's Economy Under the Generals

by Altan Yalpat
published in MER122

In September 1981, on the first anniversary of the military coup, the Economist summarized the succession of events that set Turkey’s critically ailing economy of-the late 1970s on its new course.

The first step was an economic package announced on January 24, 1980. Designed by the government of Süleyman Demirel, it was the brainchild of his finance minister Turgut Özal. The second step was the freeing of interest rates on July 1, 1980. And the third was a series of measures introduced after the military takeover on September 12, 1980. [1]

Al-Khafaji, al-Dawla wal-Tatawwur al-Rasmali fil-Iraq

by Marion Farouk-Sluglett
published in MER125

Isam al-Khafaji, al-Dawla wal-Tatawwur al-Ra’smali fil-‘Iraq, 1968-1979 (Cairo, 1984).

Isam al-Khafaji is a distinguished Iraqi economist who studied at Baghdad University under Muhammad Salman Hasan in the early 1970s. After leaving Iraq in 1978, he studied for a year in Paris before settling in Beirut. There he published his first book, Ra’smaliyyat al-Dawla al-Wataniyya (National State Capitalism), which is a Marxist analysis of aspects of economic development with special reference to the oil states of the Middle East.

Please Subscribe to access the full contents of this article.

Books on Oil Prices

by Michael Renner
published in MER128

Steven A. Schneider, The Oil Price Revolution (Baltimore: Johns Hopkins University Press, 1983).

Robert Sherrill, The Oil Follies of 1970-1980: How the Petroleum Industry Stole the Show (New York: Anchor Press, 1983).

Please Subscribe to access the full contents of this article.

Hangover Time in the Gulf

by Ghassan Salameh
published in MER139

After a decade of soaring revenues and frenetic spending, the six “Eldorado” states of the Gulf (Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates—the states of the Gulf Cooperation Council) are now in a tight economic and financial squeeze. Experts and analysts in the Gulf and around the world are feverishly studying the consequences of this new phase, including its political implications. Symptoms which began to show up back in 1982 are now quite apparent in the litanies of international experts and the lives of the countries’ six million immigrant workers.

Please Subscribe to access the full contents of this article.

Authoritarian States in the Third World

by Iftikhar Ahmad
published in MER141

 

Clive Thomas, The Rise of the Authoritarian State in Peripheral Societies (New York: Monthly Review Press, 1984).

Anthony D. Smith, State and Nation in the Third World (New York: St. Martin’s Press, 1983).

 

Khuri, Tribe and State in Bahrain

by
published in MER132

Fu’ad Khuri, Tribe and State in Bahrain (Chicago: University of Chicago Press, 1980).

Fu’ad Khuri has provided us with a sensitive analysis of the recent history of Bahrain. He captures the broad sweep of socioeconomic and political change brought about by the colonial bureaucracy and the discovery of oil, and he comprehends the multiplicity of peoples, religious sects and classes in Bahrain and their responses to these changes.

Please Subscribe to access the full contents of this article.

Class and State in Kuwait

by Fred H. Lawson
published in MER132

Over the past five years, Kuwait’s rulers have confronted a variety of crises. Declining oil revenues have forced the regime to engage in deficit spending, which may jeopardize both the state’s extensive system of social welfare programs and its efforts to encourage diverse industrial development projects. The war between Iran and Iraq poses a continuing threat to the country’s foreign commerce as well as to its position as one of the primary financial and service centers of the Gulf region. Attempts by groups associated with Iran to undermine the Sabah regime have led to heightened internal security. Two signs of this are the broader scope of police involvement in domestic affairs and the doubling of defense spending between 1979-1980 and 1983-1984.

Please Subscribe to access the full contents of this article.

Migrant Labor and the Politics of Development in Bahrain

by Rob Franklin
published in MER132

Bahrain was, after Iran and Iraq, the first country in the Gulf to have its petroleum resources developed by Western companies. It has a longer history of economic and infrastructural development than any other state in the peninsula. Bahrain’s petroleum reserves and producing capacity are also the smallest of the Gulf oil producing states. Thus, Bahrain’s rulers were the first in the Gulf to confront the problem of building a diversified modern economy. Furthermore, while political legitimacy is problematical throughout the Gulf, it is especially so in Bahrain.