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date: 01 October 2022

Power, Capital, and Classes in the Middle East since 1945locked

Power, Capital, and Classes in the Middle East since 1945locked

  • Ahmad ShokrAhmad ShokrDepartment of History, Swarthmore College

Summary

The history of postwar development in the Middle East began with a commitment by states to achieving national economic growth, industrialization, and the provision of social welfare. After some early experiments, state-led development began to gather pace across the region in the mid-1950s. Although conservative and revolutionary states stood on opposing sides of the Cold War, many of them pursued remarkably similar paths of agrarian reform, industrial development, and state bureaucratization. By the 1970s, republics facing political and economic pressures began to abandon their “socialist experiments,” while the oil revolution empowered Gulf states on the regional stage, hastened the adoption of neoliberal policies, and helped transform the global financial system. Since the late 1980s, war, debt and austerity, and the expansion of Gulf capital and influence again transformed the Middle East by exacerbating regional conflicts, reshaping local economies, and fostering new forms of social, economic, and geographic inequality.

Subjects

  • Capitalism
  • Middle East

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