Adam Hanieh; Money, Markets, and Monarchies: The Gulf Cooperation Council and the Political Economy of the Contemporary Middle East

Abstract

Reviewer: Erhan Akkas Money, Markets, and Monarchies: The Gulf Cooperation Council and the Political Economy of the Contemporary Middle East is a seminal work by Adam Hanieh on the political economy of the GCC countries. The book scrutinises mainly how the financial surpluses are transferred to the global and regional economy and how the rulers and elites in the region benefit from these corporations through the substantial framework of the critical approach. In general, the book is categorised into eight chapters focusing on the role of the GCC countries in the reshaping of the capitalist world market. By doing this, there are two distinct ways: the first main objective is to present the position of the Gulf's political economy in global-Gulf relations as presented in chapters 2-3; the second is to analyse the role of Gulf's accumulation on wider Middle East region as seen in chapter 4-8. Therefore, it can be said that the study starts by evaluating the Gulf capital primarily from a global point of view, and then closely examines the regional effect and role of the Gulf capital through capitalist partnerships.