in 2007
http://www.ft.com/reports/egyptdec2007
“There’s a vicious circle of the small clique getting filthy rich and the rest
getting impoverished,” says Nader Fergany, a former economics professor and
author of the Arab Human Development Report from 2002 to 2005. “We have
returned this country to what it used to be called before the 1952 revolution:
the 1 per cent society. One per cent controls almost all the wealth of the
country.”
here's what braverman says about this turnabout in 1959
Harry Braverman
The Nasser Revolution
(January 1959)
Nasser’s regime is certainly a dictatorship masquerading as a revolution, but
it is also a dictatorship fulfilling some of the obligations of a revolution,
and initiating the trends and processes which will make for more revolution in
Egypt. So long as the military can effectively substitute itself for the social
struggle, keep the pot boiling, and give at least the impression of forward
motion, it can hold sway. If it falters, the dispossessed nobles and landowners
are on hand to take over again, with imperialist help, unless the Egyptian
working class and peasantry have in the meantime so matured as to be able to
make the Nile Valley the scene of Africa’s first experiment in socialism.
Inside this issue
• Succession to Hosni Mubarak is dominating debate to the exclusion of all else
• Economic headline numbers are much improved
• The government is preparing to privatise a second large state-owned bank - -
Content
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