Capitalism and Class in the Gulf Arab States

Hanieh, Adam

doi:10.1057/9780230119604

Cited by 198 publications

(96 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In the context of the GCC countries, Marxists argue that SWFs have instigated class formation, particularly where financialisation transforms Gulf societies into capitalist systems, comprising of royal family-based capital. Hanieh (2011) argues that the pattern of capital accumulation in the GCC region exemplifies a new set of internationalised social relations and represents a process of class formation described as "Khaleeji Capital".…”

Section: Sovereign Wealth Fundsmentioning

confidence: 99%

Exploring Connexion between Sovereign Wealth Funds and Islamic Finance in the Gulf Countries

Mishrif¹,

Akkas²

2018

IJEF

View full text Add to dashboard Cite

This study explores the relationship between the development of sovereign wealth funds (SWFs) and Islamic finance in the Gulf Cooperation Council countries. It argues that despite a simultaneous growth in both industries in the petrodollar era, there has been insignificant degree of complementary between them and the size of SWFs investments in Islamic finance is limited. Analysis attributes such divergence to the peculiarity of SWFs" objectives, decision-making and investment strategy. Islamic finance has yet to provide low-risk long-term investment opportunities that are more attractive to SWFs than that available in the conventional market, hence bringing the industry under the funds" radar. The study concludes by arguing that despite such limitation, both SWFs and Islamic finance have contributed to economic development and have the potential to overcome such lack of conjunction.

show abstract

Section: Sovereign Wealth Fundsmentioning

confidence: 99%

Exploring Connexion between Sovereign Wealth Funds and Islamic Finance in the Gulf Countries

Mishrif¹,

Akkas²

2018

IJEF

View full text Add to dashboard Cite

show abstract

“…What I argue is that in a time of economic transition in the Middle East, when the economies of the region -and in particular of the oil-producing states-were being ever more intimately incorporated into global capitalism, the US Army Corps of Engineers acted not only as a security arm of the US state, but also as an agent of geoeconomic transformation of the countries in which it operated. As trenchant accounts of political economy in Saudi Arabia have shown, the forging of Saudi infrastructures was crucial to the making and reinforcement of a capitalist order in which the exploitation of racialised and migrant labour, accumulation of capital through both transnational and local corporate bodies, and the internal protection of this system by repressive force became recognisable features of the system (Hanieh 2011;Jones 2010;Menoret 2015).…”

Section: In His Sources Of Socialmentioning

confidence: 99%

The infrastructural power of the military: The geoeconomic role of the US Army Corps of Engineers in the Arabian Peninsula

Khalili

2017

European Journal of International Relations

View full text Add to dashboard Cite

In analysing the role of the United States in the global expansion of capitalist relations, most critical accounts see the US military's invasion and conquest of various states as paving the way for the arrival of US businesses and capitalist relations. However, beyond this somewhat simplified image, and even in peacetime, the US military has been a major geoeconomic actor who has wielded its infrastructural power, via its US Army Corps of Engineers' overseas activities. The transformation of global economies in the twentieth century has depended on the capitalisation of the newly independent states and the consolidation of liberal capitalist relations in the subsequent decades. The US Army Corps of Engineers has not only extended lucrative contracts to private firms (based not only in the US and host country, but also geopolitically allied states), but perhaps most important, the Corps itself has established a grammar of capitalist relations. It has done so by forging both physical infrastructures (roads, ports, utilities and telecommunications infrastructures) and virtual capitalist infrastructures through its practices of contracting, purchasing, design, accounting, regulatory processes and specific regimes of labour and private property ownership. Keywordsinfrastructural power, geoeconomics, armed forces, capitalisation, grammar of capitalism, US Army Corps of Engineers, Saudi Arabia, Middle East What is the relationship between the United States military and the capitalisation of economies in the Global South? In the aftermath of the US War on Terror, an oft-heard argument saw the US military's invasion of Iraq as either a war for oil, or as a means of facilitating the entry of US businesses into Iraq. While it is easy to find arguments about how the US pacification of intransigent peoples overseas has paved the way for the entry of US businesses, this scholarship does not necessarily attend to the deliberate and systematic way that the US military has acted in peacetime to construct new economic infrastructures that incorporated the pacified countries into the global capitalist economy. The main contention of this article is that the US military has used infrastructural power as a primary modality of establishing liberal capitalist relations in countries in transition and in times of global political and economic transformation. This argument requires us to take seriously the importance both of the peacetime work of US military institution in advancing global capitalism, as well as the importance of forms of power that do not easily fit within the rubric of economic or military. Rather, through both forceful and hegemonic means, US military institutions have forged the necessary scaffolding for a capitalist 1 Corresponding author: Laleh Khalili, Department of Politics and International Studies, SOAS, University of London, London WC1H 0XG, UK. Email: LK4@soas.ac.uk This is the accepted version of an article published by Sage in European Journal of International Relations. Published version availa...

show abstract

“…This globalisation of commodity and finance is, in turn, intertwined with the formation of classes at home (Hanieh, 2011). Capital connects not just financial markets but also Khaleeji elites who are both mobile and have a personal interest in a liberalised capital regime.…”

Section: 2mentioning

confidence: 99%

Combining Economic and Political Development

2017

View full text Add to dashboard Cite

Capitalism and Class in the Gulf Arab States

Cited by 198 publications

References 0 publications

Exploring Connexion between Sovereign Wealth Funds and Islamic Finance in the Gulf Countries

Exploring Connexion between Sovereign Wealth Funds and Islamic Finance in the Gulf Countries

The infrastructural power of the military: The geoeconomic role of the US Army Corps of Engineers in the Arabian Peninsula

Combining Economic and Political Development

Contact Info

Product

Resources

About