This book reflects on what has happened to the economic development in the Middle East and North Africa since 2001.

Clement Moore Henry is Professor of Government at the University of Texas, Austin. His publications include The Politics of Islamic Finance (2004) and The Mediterranean Debt Crescent: A Comparative Study of Money and Power in Algeria, Egypt, Morocco, Tunisia, and Turkey (1996).

1. The globalization dialectic; 2. The challenges of globalization; 3. Political capacities and local capital; 4. Bunker states; 5. Bully praetorian states; 6. Globalization monarchies; 7. Precarious democracies; 8. Conclusion.