A Prelude to the Foundation of Political Economy Oil, War, and Globa

A Prelude to the Foundation of Political Economy is a groundbreaking volume of theory and strategy on political economy and polity of the twenty-first century. Distilled in concrete terms, it elucidates the enigma of oil in view of the centrality of globa

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T HE ECONOMICS OF THE M IDDLE EAST

The Middle East has seen much more economic change than sociopolitical change over the past few decades in spite of the continuous political instability that is often highlighted by the press. Collectively the region is best known for producing and exporting oil. While the oil industry significantly impacts the region by generating wealth and movement of labor, it has also become the agent of change for endeavors such as development and diversification. With higher rates of growth occurring more in the East than the West, the Middle East sits on the crossroads of this divide acting as a bridge between these two market places. This series is dedicated to highlighting the challenges and opportunities that lie within and around this central region of the global economy. It will be divided into four broad areas: resource management (covering topics such as oil prices and stock markets, history of oil in the region; water; labor migration; remittances in the region), international trade and finance (covering topics such as role of foreign direct investment in the region; Islamic banking; exchange rate and investments), growth and development (covering topics such as social inequities; knowledge creation; growth in emerging markets), and lastly demographic change (covering topics such as population change, women in the labor market, poverty and militancy). Dr. Nora Ann Colton is Principal Lecturer in International Business and Management as well as a Middle East Expert at the Royal Docks Business School, University of East London. Prior to joining the University of East London, Dr. Colton was a Professor of Economics and Business at Drew University as well as the Director of Middle East Studies. Dr. Colton has conducted extensive fieldwork in the Middle East and was a Carnegie Scholar in 2009 and Visiting Professor of Economics at the American University of Beirut. Editorial Advisory Board Karen Pfeifer – Professor Emerita of Economics, Smith College Ghassan Dibeh – Professor of Economics, Lebanese American University; Editor, Review of Middle East Economics and Finance Roger Owen – A. J. Meyer Professor of Middle East History, Harvard University Serdar Sayan – Professor of Economics, Director, Graduate School for Social Science, Tobb University of Economics and Technology, Turkey Islamic Banking and Finance By Omar Masood The Global Economic Crisis and Consequences for Development Strategy in Dubai Edited by Ali Tawfik Al Sadik and Ibrahim Ahmed Elbadawi Land Ownership Inequality and Rural Factor Markets in Turkey By Fatma Gül Ünal Expats and the Labor