Corporatism, Capitalism and the Arab Spring
Posted by saifedean on November 7, 2011
Corporatism, Capitalism and the Arab Spring is the title of a Working Paper I completed for the Columbia University’s Center for Capitalism and Society. It is freely accessible on the Center’s website. All feedback is appreciated.
This is the abstract of the paper:
This paper examines the economics of the popular revolutions that removed the ruling regimes of Tunisia and Egypt in early 2011, and presents the concept of a corporatist economy as a better framework for understanding the economic systems of these countries. The deposed regimes had instituted a deep corporatist governance system that placed control of most economic activity in the hands of the regime and its closest loyalists. This corporatist system was very beneficial for the regime and its cronies, but was very destructive of economic freedom of the majority of people, leading to economic stagnation, youth alienation and the eventual mass protests that deposed the regimes. Moving forward, what these economies need is not a return to socialism, nor a retrenchment of corporatism, but a move towards dynamic free market capitalist economies that allow individuals the freedom to make their own living and determine their own future.