Economic liberalization has failed in the Arab world. Instead of ushering in economic dynamism and precipitating democratic reform, it has over the last three decades resulted in greater poverty, rising income inequality and sky-rocketing rates of youth unemployment. In How Capitalism Failed the Arab World, Richard Javad Heydarian shows how years of economic mismanagement, political autocracy and corruption have encouraged people to revolt, and how the initial optimism of the uprisings is now giving way to bitter power struggles, increasing uncertainty and continued economic stagnation. A unique and provocative analysis of some of the key social and political events of the last decade.
Foreword by Walden Bello 1. A Brave New Middle East: The Birth of a New Era 2. The Anti-Development State: Economic Origins of Arab Upheavals 3. The Advent of Economic Globalization: A Prelude to Crisis 4. The Great Recession: The Collapse of Arab Crony Capitalism 5. The New Power Brokers: Political Islam and the Arab Summer 6. Gulf Exceptionalism: How the Monarchies have Reshaped the Arab Spring 7. Peering into the Abyss: The Arab Spring at the Crossroads 8. Where Do We Go From Here? Finding the True Path to an Arab Spring