What's Egypt's Economic Future?

by Patrick Appel

Larison remains wary of Egyptian democracy:

Everyone has understandably been speculating on the possible role of the Muslim Brotherhood in a democratic Egypt, but that is hardly the only political misfortune that could befall a democratic Egypt. While the protesters undoubtedly have real political grievances, it is economic woes that have triggered both the Tunisan and Egyptian uprisings, and it is not an accident that these are two regimes that have been doing many of the “right” things on policy in the eyes of economic neoliberals. In those countries with the weakest foundations as democratic states, the backlash against neoliberalism in Latin America empowered political movements in several countries that have produced economic mismanagement, political illiberalism, and the emergence of authoritarian populist rulers. It wouldn’t be all that surprising if the same thing happened in a democratic Egypt.