The Political Economy of the Egyptian Uprising

"Western ideological systems and establishment propaganda in Egypt have largely reproduced Clinton’s implicit message of “bad” versus “good” capitalism: Mubarak and his gang of “corrupt” associates have been driven out, and now the system’s benevolent equilibrium can be restored by replacing the bad guys with good guys chosen through elections overseen by the U.S.-backed Egyptian army. Accordingly, as recent events make clear, the commitment of IFIs and Western governments to “social justice” comes predicated on continuing the neoliberal transformation of Egyptian society that has been underway for decades. But is the problem the Egyptians face merely a long series of corrupt anomalies, or the system as such? Is a liberal capitalist democracy adequate to meet the demands of the revolution? And is there the potential for something more? Here we cannot avoid the essential question: how does the Egyptian uprising and the new reality it is helping create relate to global capitalism?" (thanks Talal)