OK, Mubarak the Ogre is gone. Celebrate today, Egyptians, as this greedy tyrant has been siphoning off Egypt's lifeblood for his own enrichment for 30 years now. Living on $2 a day for the average Egyptian had to be getting old, and new days are ahead now that the main impediment to Egypt's economic development has fled the country.
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Now what? Instant wealth for everyone? Sorry, Egyptians, that's not how it works. Some inner soul searching is now called for, in light of the new day.
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The majority of Egyptians still have Islamic cultural leanings that will hinder any progress that is possible under a free market system. Most Egyptians believe that cutting off a hand for a minor transgression is justice. Most Egyptians believe that women should be covered and in the presence of male family members when they are in public. Most Egyptians believe that women should not drive, or vote, or have any say at all in the public discussion as to how best to allocate scare national resources.
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With these widespread beliefs held by most Egyptians, no possible gains can be made in their economy. A vibrant economy is only possible under a government that enforces contracts and holds property rights sacred. A free market economic system also requires freedom of speech and the freedom for each of its citizens, including women, to pursue basic human rights such as life, liberty and the pursuit of happiness.
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There can be no such freedoms when half the population (women) is considered mere chattel and treated like slaves.
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Where Egypt will go from this point forward is hard to predict. But it is not difficult to see what will happen to Egypt's future if they continue to cling to these brutal and inhumane cultural choices that have shown over the centuries to give rise to dictators.
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Much like the one they just booted out of the country.
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