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  • Greater Economic Freedom Is Key to Egypt’s Future

    Ordinary people in Egypt are calling for greater economic freedom. In fact, “people power” has risen against government corruption and the lack of meaningful reform progress. The stagnant economy has long kept many of Egypt’s 80 million citizens deprived of economic opportunity. Particularly, the young in Egypt have been increasingly frustrated about their country’s outmoded economic system and discouraging reality.

    As well-documented by The Heritage Foundation’s Index of Economic Freedom, a data-driven policy analysis of various economies, Egypt has been fluctuating only within the status of “mostly unfree” over a decade. Egypt has implemented a series of reforms of business regulations that were only cosmetic. On paper, they reduced the number of days and procedures involved in starting a business. However, in practice, those reforms have failed to produce any tangible improvements for many young people under the age of 30, who have been more eager to pursue greater economic freedom.

    Even worse, on the two indicators that are the most powerful predictors of success for developing economies—property rights and corruption—Egypt scores far below world averages. Both indicators have shown sharp declines in recent years.

    The abiding lesson of the Index of Economic Freedom is that the most critical variable in economic success is freedom. Let’s hope that Egypt’s current struggles will lead to lasting progress that improves economic opportunities for the young—and everyone else.

    Posted in International [slideshow_deploy]

    4 Responses to Greater Economic Freedom Is Key to Egypt’s Future

    1. Pingback: Tweets that mention The Foundry: Conservative Policy News. -- Topsy.com

    2. Scott Carver says:

      Egypt has vast potential, and serves an important stratigic interest in the region. However, if the Egyptian people want US aid, they should accept more US interests in their nation. This is the trouble with most of the countries of the world. They want US economic aid, but they dont' want to allow US economic interests onto their soil. How many of these sandbox nations did the United States work with in the 50's, 60's, and 70's? Using US funds and technology to take them from nomadic tribesmen to become the Oil Superpowers they are today. There's a long history of US economic investment in a country producing a huge upswing in prosperity and the standard of living. US investments create jobs for locals, which feed money back into local economies, which then improve infrastructure, which attracts even more investment, etc.

      But that history has been forgotten, buried under the mask of hatred spewed by extreemist groups who think that the United States is the devil. What I can't understand is how anybody can take seriously any group of cowards who use children as weapons. If becoming a martar for Allha is so great, why don't these jhiad leaders strap bombs to their own chests and take out a target? Why? BECAUSE THEY ARE COWARDS. Cowards using women and children as weapons.

      Sorry, got off subject there for a moment. But it does tie in. There is an extreamest group, the Muslim Brotherhood, sitting in the shadows and fueling this drive by the Egyptian people. They are hoping for another Iran, where the new government that replaces the current one will be so weak that the Brotherhood can seize power in a relatively bloodless coup, thus creating a theocracy similar to the Iman's of Ahitolah's of Iraq. This is a religious ploy designed to destablize the region, and isolate Isreal.

      The Government, either Mubarik or whomever replaces him, needs to open the country to western economic investement, and allow for the creation of an infrastructure to support it. Otherwise, the Brotherhood is going to roll over it and Egypt's people are going to go from a secular dictatorship to a theological one, and everybody's going to lose.

      comments are welcomed

    3. Bobbie says:

      I agree. How many years have leaders from the Muslim religion ranted how much they "hate" the west? How their religious goal is to force conversion of their religion upon the world? And will kill human life to do so?

      Thank God we have strong, dignified, respectable men in this country, sharia law exposes pathetic weaknesses and intolerances of the men of this religion that we're going to have to be protected from.

    4. eric says:

      The only is solution the this matter is “Africa”.

      Egypt is part of the african union. African countries who also fear that terrorism spread on the continent, should open the egypt for more economic opportunities on the continent.

      The african economy is growing very fast, and might be the future.

      But as the world is going to a green planet. Oil won’t be a key player for Egypt anymore, so they should invest in other key areas..

      The strategy is to:

      1. Egyptian VP to open the door to opposition leaders by giving them position in the government.

      2. VP to become transitional President until election

      3. New President to creat jobs opportunites for Egyptians by building schools, roads..

      4. New President to invest in education

      5. New President to give more freedom to Egyptians

      6. New President to create big economic deals with african nations.

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