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Egypt’s Self-Inflicted Poverty

Wednesday, February 16, 2011

walter williams

Why is it that Egyptians do well in the U.S. but not Egypt? We could make that same observation and pose that same question about Nigerians, Cambodians, Jamaicans and others of the underdeveloped world who migrate to the U.S. Until recently, we could make the same observation about Indians in India, and the Chinese citizens of the People’s Republic of China, but not Chinese citizens of Hong Kong and Taiwan.

Let’s look at Egypt. According to various reports, about 40 percent of Egypt’s 80 million people live on or below the $2 per-day poverty line set by the World Bank. Unemployment is estimated to be twice the official rate pegged at 10 percent.

Much of Egypt’s economic problems are directly related to government interference and control that have resulted in weak institutions vital to prosperity. Hernando De Soto, president of Peru’s Institute for Liberty and Democracy, laid out much of Egypt’s problem in his Wall Street Journal article (Feb. 3, 2011), “Egypt’s Economic Apartheid.” More than 90 percent of Egyptians hold their property without legal title.

Post Continues on www.thenewamerican.com

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  • http://yahoo.com tod

    If Barry and his Cohorts get their way we will be in the same position in no time at all.

    • http://scarletpimperneltokra.me.uk/elizasays/page3 Ileana Eliza Paunica

      Tok’Ra kree!

      I agree with all the issues written in the article and with the above 3 comments. How true. Amen!

      Jolinar

    • http://scarletpimperneltokra.me.uk/elizasays/page3 Ileana Eliza Paunica

      Oh No!!! I posted in the wrong place. I wanted to place my comment after Tod, Carole and WalkerMom. Correction, please.

      Jolinar

    • EddieW

      You nailed that!!! That is exactly thier plan!! except they also intend to do away with a few million people…part of the plan too!!! Got to disarm us first, so we will be defenseless!! like all the other countries that did this same thing! Obaba’s
      “private” armie(S) who do you think he intends to use them against? sure as H*** not foreigners!!!

  • Carole

    Muslim countries never prosper apart from the oil-rich ones, but then again most of the populations live in poverty because of the despotic governments!!

  • WalkerMom

    If only most Americans would take the time to immerse themselves in important issues like the ones discussed by Professor Willimans, in lieu of reality tv, perhaps they would value the country in which they live and make an effort to protect their rights by speaking up and voting during election time.

    • ricbee

      If there was somebody worth voting for!

  • shannon

    why doesn’t this article cover how bad our country is and how not one lawmaker at any government level will stop aid and free bees to the invaders? billions to be saved if aid stops, force them out and un employment drops as americans fill thos ejobs.

  • MrJBond

    The current Egyptians are Arabs who not the desecdents of the Egyptians of pyramid building fame. The reason for the current Egyptians being impoverished is that they are Arabs, which means that they were, are, and always will be stupid.

    These people believe in superstitions and hatred that they claim is sacrosanct because it is intrinsic to their religion, Islam. So, there is no hope for people who will always use an excuse to hate and then rationlize it with delusions.

    Do no fool yourselves to believe that the Arabs from Egypt in the USA realize the value of the USA and democratic ideals. These occupiers of the USA hate the USA. They use the USA because the USA legal system allows them access the things and fear from retribution for expression. Nevertheless, they hate the USA and are so damn stupid that if they had the power, they would convert the USA in to place where they could impose their religious delusions and criminality against others despite the chaos and impoverishment it has caused and why they left Egypt.

    No matter what is done for these Arabs, they are too damn stupid to recognize that they are dupes of Islamic religious con-artists who can only encourage hatred and delusion thinking as the solutions to problems, all of which are truly self-inflicted.

  • http://Bravemind@blogspot.com OregonGreg

    As usual, Dr.Walter E. Williams makes a clear and important point. Wealth is the natural by-product of a society that place a high value on Personal Liberty and Responsibility. So far, the Christian Cultures have be the “lucky ones” in the wealth and freedom department. Why do you think that is?
    Grace your way.

  • stephen russell

    Pro Govt, Big Govt, tyrant for Life & NO Free markets save Tourism & archeological studies, now wonder everyone is POOR.
    NO Incentives, Thanks to Big Govt.

  • Hank

    Remember Saying this?

    Hey Hank, looks like your liberal progressive manifesto got the approval of two others.Probably Bill Maher and Charlie Sheen.
    ………………………………………………………………
    I count one. Probably you. You secretly agree with me, but you already sad what you’ve had to say and are too much of a coward to go back on it.

  • Jill

    surprize surprize surprize.

  • ricbee

    Gypts are like people the world over,especially Americans who will not lay down die when given some meager existence-they’ll work under the table,barter,trade,steal & swap. Italy has more than 1/2 its economy in the black market & the USA is heading the same way.

  • Robert Lebischak

    Why do people come here? Could it be to better their lives, how could that happen? More freedom, more choice, more independence. Less government? That may have been true, but if it keeps going the way it is now, we will be in the position the other countries are in, immigration won’t be a problem when our economy goes, but living will. How can we not see what could be coming, and why isn’t the government trying to correct the situation? Good questions, but who has an answer?

    • http://netscape huh duh

      Why do people come here? Could it be to better their lives, how could that happen? More freedom, more choice, more independence. Less government? That may have been true, but if it keeps going the way it is now, we will be in the position the other countries are in, immigration won’t be a problem when our economy goes, but living will. How can we not see what could be coming, and why isn’t the government trying to correct the situation? Good questions, but who has an answer?

      h.d.
      Hate to be the one to wake you up,but it is the muslim communist regime in d.c. with the, corporate confederations, and their bought and placed in office shills, plus their manufacturing and industrial allies. they are taking America as they threatened decades ago with out firing a single shot
      (yet) America and the American people are in a war with the european communist and the d.c. gang,they are destroying America’s industrial complex, turning it over to communist countrys and dictators,destroying dailey the money that have a decent value when you earned it, now threw the communist scheme is already almost valuless, food up,petro up,all utilitys up, rents up, un-employments up, home closure up,and you are paying hundreds billions to communist,and dictators in foreign aid.

      They are going to grind it a little more before long,watch what they pull on the American people on giving them safe healthy water for their children and selves.

      We have highly educated men from some of are higher institutions of learning, that work for the chinese communist government showing them how to over throw the dollar as the worlds number one currency, wake up my patriot friend and realize their is and organized conspiracy to over throw the Freedom and Liberty loving people of America, by a the destruction of their industrial and monatery system.

      They had to speed things up the assange dude went to snitching on them and they are finding out they can’t even trust one another.

      You are not and never was a democracy,America was conceived and born a Repulic, a Nation under Law. not kings ,dictators nor even religious org.

      But they are Nation who based their laws on Judeo Christian principles and precepts.

      There has to be standards of conduct for all beings, and character traits that are not of some deranged b.s. like the conspirators in d.c.and europe have in mind for America and it’s citizens.

      Have a great day my fellow patriot, if you do not believe what I say today the communist conspirators will in due time will allow you a look at the scheme they have pulled on a Nation and world of basically peace and Freedom loving human beings.

      Shalam Shalom
      h.d.
      Ehyeh Asher Ehyeh
      Ego Eimi

  • http://Yahoo Fran

    History repeats itself….Rome fell from within and the USA is falling fast.

  • A.B.

    The main functions of a wise government are to help ensure their constituents have every opportunity to succeed, without creating a populace dependent upon the government for basic needs. No matter who is in power, the government that governs least, governs best.

  • Yellow Horse

    If the obama regime keeps getting their way, the people of other countries in the U.S. will leave & go back to their own country!!The regime is trying to get the u.s. even lower than all of the communist countries in todays world!!

  • billb

    muslims are allowed to have up to 10 wives with no birth control they breed like flys — lets face it they have jsut over populated and all there is for them to do is shovel sand there needs to be an extermination program to eliveate 99% of the rag heads

    work is not their fortie any way whey do they worry about employment