is an extracted chapter from the 2013 Updated Edition of by Alan Richards, John Waterbury, Melani Cammett, and Ishac Diwan. In the full-length edition, the authors present a comprehensive analysis of the transformation and development of the political economy in the Middle East over the past several decades. The book retains its focus on the interaction of economic development processes, state systems, and social actors as well as introduces coverage of the rising oil prices and how it reinforces authoritarian governance in the region, a refined assessment of 'the Washington Consensus', the impact of the Arab Spring, and much more.