ABSTRACT
In order to determine what has been achieved in the Middle East three possible positioning theories are considered, first the stages of economic growth approach, second dependency theory and third whether the pre-conditions for self-sustaining development exist. The failure of indigenous capital to develop in most of the region does not reflect a lack of entrepreneurship, but rather the strength of traditional feudal structures. Markets have not failed in the Middle East, but rather function in a distinctive manner through bazaar economies. These are best analysed from a multidisciplinary perspective embracing both social anthropology and behavioural economics.
