Cleft Capitalism - The Social Origins of Failed Market Making in Egypt (Hardcover)

Egypt has undergone significant economic liberalization under the auspices of the International Monetary Fund, the World Bank, USAID, and the European Commission. Yet after more than four decades of economic reform, the Egyptian economy still fails to meet popular expectations for inclusive growth, better standards of living, and high-quality employment. While many analysts point to cronyism and corruption, Amr Adly finds the root causes of this stagnation in the underlying social and political conditions of economic development. Cleft Capitalism offers a new explanation for why market-based development can fail to meet expectations: small businesses in Egypt are not growing into medium and larger businesses. The practical outcome of this missing middle syndrome is the continuous erosion of the economic and social privileges once enjoyed by the middle classes and unionized labor, without creating enough winners from market making. This in turn set the stage for alienation, discontent, and, finally, revolt. With this book, Adly uncovers both an institutional explanation for Egypt's failed market making, and sheds light on the key factors of arrested economic development across the Global South.

General

Imprint:	Stanford University Press
Country of origin:	United States
Series:	Stanford Studies in Middle Eastern and Islamic Societies and Cultures
Release date:	June 2020
First published:	2020
Authors:	Amr Adly
Dimensions:	229 x 152mm (L x W)
Format:	Hardcover - Cloth / Cloth
Pages:	336
ISBN-13:	978-1-5036-0891-7
Categories:	Books > Business & Economics > Economics > Political economy Books > Humanities > History > Asian / Middle Eastern history > General Books > Business & Economics > Economics > International economics > General Books > History > Asian / Middle Eastern history > General
LSN:	1-5036-0891-3
Barcode:	9781503608917

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