from The Daily Bell:
Egypt needs elections, not generals … Mohamed Morsi’s one-year rule of Egypt was disastrous. He ruled by fiat, alienated potential allies and failed to stabilize the country’s spiraling economy. But a military coup is not an answer to Egypt’s problems. It will exacerbate, not ease, Egypt’s vast political divide. The Egyptian military’s primary interest is maintaining its privileged role in society and sprawling network of businesses. Like the Pakistani military now and the Brazilian military in the past, its desire to maintain its economic interests will slow desperately needed economic and political reforms. There is little reason to have faith in Egypt’s broken political process at this point. But the best way to ease the country’s bitter divisions are immediate elections that include the Muslim Brotherhood. – Reuters
Dominant Social Theme: Regulatory democracy will carry the day.
Free-Market Analysis: In our initial analysis of the Egyptian political mess, we wondered if the Anglosphere, in particular Foggy Bottom and Washington DC, hadn’t been dealt one of the most significant setbacks of recent imperialism.
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