the internet is a wonderful tool. however, one issue with it is that smalltime talking heads throwing out substance-lacking buzzwords and ignoring the reality of the world.. these guys get picked up by things like the egyptian media. and so, egyptian readers see headlines like this: american economist calls for obama to learn from egypts economic example. the article is taken by most with a heavy dose of sarcasm around here. it does, indeed, seem comical to even compare the two economies - one a mixed economy incorporating free market principles and government regulation. the other a mostly state-run (read: military-run) economy, with a dose of neoliberal cronyism thrown in. i hope this man doesnt seriously think that cutting government subsidies is currently bringing egyptians out of poverty. in any event, the biggest job-creator this year in egypt is without a doubt the new suez canal project (carried out by the government and its billions of dollars of investment) which is projected to create 1 million jobs. a bastion of mr. newsomes free market indeed...
Posted on: Sun, 07 Sep 2014 11:00:10 +0000
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