Crony capitalism
October 28, 2014
Redefining conflict of interest
The Arab Spring has turned out to be a great disappointment. It is fast turning out to be a winter of great discontent and suffering for the poor
people who threw out a bunch of dictators with great aspirations of establishing an accountable and responsible liberal democratic government.
However, the dark clouds have a silver lining. Two classic examples of crony capitalism were exposed. After the dictator Ben Ali was thrown out in Tunisia in 2011, a total of 214 businesses and assets worth $ 13 billion, including 550 properties and 48 boats and yachts, were confiscated from the deposed President his associates and relatives. Meanwhile in Egypt, where President for life Hosni Mubarak, was ousted soon after Ben Ali, 469 businesses linked to his family and cronies were seized.
people who threw out a bunch of dictators with great aspirations of establishing an accountable and responsible liberal democratic government.However, the dark clouds have a silver lining. Two classic examples of crony capitalism were exposed. After the dictator Ben Ali was thrown out in Tunisia in 2011, a total of 214 businesses and assets worth $ 13 billion, including 550 properties and 48 boats and yachts, were confiscated from the deposed President his associates and relatives. Meanwhile in Egypt, where President for life Hosni Mubarak, was ousted soon after Ben Ali, 469 businesses linked to his family and cronies were seized.