Source: Economic Research Forum
Author(s): Khalid Abu-Ismail
Original Link: https://theforum.erf.org.eg/2018/10/01/galal-amin-egyptian-middle-class/
A sense of ‘defeat’ among the Egyptian middle class was the main motivation for the uprising of 25 January 2011. In a tribute to economics professor Galal Amin, who passed away last month, this column explores what his analysis would suggest lay behind that feeling. The main culprit is the pursuit of stabilisation at any cost: macroeconomic stability rarely translates into more investment and better-quality jobs; liberalisation typically leads to crony capitalism and greater inequality; and it is the poor and the middle class who experience the pain.
Read more at Original Link.