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Arab Spring, Mohamed Bouazizi, And Equity–Efficiency Tradeoff

In: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed

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  • Donghyun Park

Abstract

Economic sclerosis, anemic growth, and sky-high unemployment are a surefire recipe for social and political explosion, and one such explosion — the Arab Spring — engulfed much of the Middle East and North Africa in recent years. The flames of that explosion are still burning strong and show no signs of dying out anytime soon. From its inception, the Arab Spring was a natural and predictable reaction to the bleak despair and hopelessness that confront millions of youths in the Arab world, from Baghdad to Cairo to Algiers. The self-immolation of Mohamed Bouazizi, a 26-year-old Tunisian street vendor fed up with petty harassment by petty local officials, on 17 December 2010 set off widespread nationwide protests that eventually ousted a president who had run the country for 23 years. When the only way a young man can support himself and his family is to sell fruits from a wheel barrow, and small-time bureaucrats with plenty of time on their hands prevent him from doing even that, then the unfortunate actions of Mohamed Bouazizi may be unsurprising. There is no cure for utter hopelessness, bottomless despair, and broken spirits…

Suggested Citation

  • Donghyun Park, 2019. "Arab Spring, Mohamed Bouazizi, And Equity–Efficiency Tradeoff," World Scientific Book Chapters, in: Capitalism in the 21st Century Why Global Capitalism Is Broken and How It Can Be Fixed, chapter 13, pages 58-61, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789813274242_0013
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    Keywords

    Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market;
    All these keywords.

    JEL classification:

    • F6 - International Economics - - Economic Impacts of Globalization
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • N2 - Economic History - - Financial Markets and Institutions
    • A1 - General Economics and Teaching - - General Economics
    • F00 - International Economics - - General - - - General

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