According to the theory of the “rentier state”, a rentier state is defined as a state that is dependent upon externally generated revenues which make up of more than forty percent of its total income, and only from a single resource. On global scale, natural resource rent is provided mostly from the Middle East and North Africa (MENA) countries. This study examines the political and economical effects of the natural resource (oil, gas etc.) rents in the MENA region. The effects of the natural resource rents are analyzed in accordance with political economy models on country basis by comparing the periods when the natural resource prices are rising and are going down. In this comparative analysis, the MENA countries are divided into two categories as the rentiers and non-rentiers. The consequences of rentier economics on these countries are analysed by using such indicators as socio-economic development, economic freedom and welfare state policy. The institutional structures of these rentier states in the Middle East are still based on Ibn-Khaldun’s notion of “asabiyyah” (social cohesion). For the change in the institutional structures, the states are required to implement the policies that would introduce a new understanding of social entrepreneurship in their societies.