The Political Economy of Investment in Syria
The Political Economy of Investment in Syria by Linda Matar, published by Palgrave Macmillan UK on May 28, 2020, offers an in-depth analysis of Syria’s investment landscape prior to the uprising. This 184-page work examines the historical context of investment in Syria, focusing on the socioeconomic structures and political conditions that influenced capital accumulation. Matar critiques the applicability of modern investment theories to developing countries, highlighting how the ruling class’s management of resources under the Hafiz and Bashar Assad regimes led to a crisis in capital accumulation.
Readers will find a thorough exploration of the failures of neoliberal reforms in fostering productive investment, as well as the resulting socioeconomic deterioration that contributed to the 2011 social upheaval. Matar utilizes difficult-to-access data and fieldwork to illustrate how short-term speculative ventures enriched a select few while undermining broader economic stability. The book delves into the implications of distorted income distribution and the superficiality of free market rhetoric, providing insights into the complex interplay of political science, economic development, and public policy in the context of Syria.
Official synopsis Publisher
Linda Matar examines Syria’s failure to promote employment-generating investment prior to the uprising. Tackling the thorny issue of the inapplicability of modern investment theory to a developing country, she situates the analysis of investment in Syria in its historical context and examines the socioeconomic structure and political preconditions that set the course of capital accumulation. Matar argues that the class in charge of development, which oversaw the allocation of resources during the Hafiz and Bashar Assad regimes, precipitated a crisis of capital accumulation. Difficult-to-access data and information compiled from fieldwork reveal how neoliberal reforms failed to build productive capacity and instead enriched a few through short-term speculative and mercantile ventures. Productive investment in Syria prior to the uprising lurched downward, and the key related socio-economic variables followed. These deteriorating conditions contributed to the social explosion in 2011.Exploring the poor quality and quantity of investment, this study probes how the cant of the free market served as a veneer behind which the institutional decisions distorted income distribution in a way that would inevitably lead to collapse.
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