By Alan Richards
Documents the numerous adjustments in demography, schooling, exertions markets, urbanization, water and agriculture, and foreign hard work migration within the center East in fresh years;
Considers the impression of emerging oil costs on reinforcement of authoritarian governance within the region;
Refines its review of the Washington Consensus” to supply a extra nuanced method of the difficulty of the transferring stability of country and industry in fiscal progress and reform;
Presents Islamism as an essential strength within the quarter that's still an unlimited, varied social circulate with many conflicting participants;
Explores the impression of the Arab Spring and next occasions to the problems raised through the textbook in a unconditionally new chapter.
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Additional resources for A Political Economy of the Middle East: Third Edition, UPDATED 2013 EDITION
This growth will slow, but only gradually. The result is a tidal wave of young people, better educated (Chapter 5) and more urbanized (Chapter 10) than ever before, who are increasingly frustrated. Their discontent is not limited to economic matters. Like young people everywhere, they are deeply concerned with questions of authenticity and fairness and are disillusioned by their government’s failures on these counts. Moreover, they are very concerned about the way outside forces have intervened in the region.
Many writers have used political economy, implicitly or explicitly, in single-country studies. We have utilized them extensively throughout this work, as our citations attest. Our bibliography is, of course, only very partial. Work on political economy of the region has exploded since our first edition, and we have cited only very selectively from this now-vast literature. We could not, and do not, attempt to be exhaustive. There is much else that we do not attempt to do in this text, and some analytic approaches that we leave aside are admittedly important.
As we shall see in subsequent chapters, the informal sector plays an important but poorly understood role in Middle Eastern economies. The use of official exchange rates as the common denominator for international GDP comparisons introduces further distortions. To say that the average annual income in Egypt is US$1,000 evokes the image of an American buying only US$1,000 worth of goods in a year. In fact, however, an Egyptian with the equivalent of this dollar sum, when converted at the official exchange rate, would be able to buy more goods and services than the American.