[quote]
Mr. Sabahi insists the I.M.F. loan would be unnecessary if the country followed his radical prescriptions to turn away from Western economic orthodoxy. In addition to steeper annual taxes on the rich, Mr. Sabahi is calling for Egypt to meet its deficit with a one-time 20 percent tax on the wealth of anyone with more than about $17 million, which he says is about 1 percent of Egyptians.
He is calling for a ban on all exports of raw materials, including the important commodities of natural gas and cotton, so they can be used for domestic production. He proposes to increase fees on businesses that use natural resources as well as on real estate and stock market transactions. And at the same time he wants to expand Egypt’s already bloated public sector to create more jobs for the poor.
Like others who came together to oppose the Islamist-backed constitution, Mr. Sabahi said the coalition would now work through all peaceful means to bring it down. Election regulators on Tuesday night confirmed the results of the referendum approving the new charter, with 64 percent voting yes. Mr. Sabahi said his main complaint with the document was the failure to guarantee “binding social and economic rights” for the poor.
Although he acknowledged strong disagreements with some business-friendly parties in the coalition, he said he hoped that it would campaign as a bloc for Parliament and reverse the Brotherhood’s majority there.
“Then it will all be good: the president from the Brotherhood, and the Parliament and cabinet from the democratic and national forces,” Mr. Sabahi said. “Then the country will be fixed.”
Mr. Morsi, he argued, does not know how to appeal to Egyptian populism. “Egypt needs a president who inspires Egyptians, who tells them, ‘Tomorrow will be beautiful, just be patient with me today,’ ” he said. “Why do the poor endure? They endure because of hope. But Morsi doesn’t understand the story, and he doesn’t know how to do it.”
He added: “He only gives sermons after Friday prayers. After 14 centuries as Muslims, he teaches us religion! Uncle, we want to eat, we want jobs. But no, his mind is elsewhere.”
[/quote]
[url]http://www.nytimes.com/2012/12/26/world/middleeast/egypts-hamdeen-sabahy-vs-islamists-and-free-markets.html?pagewanted=1&_r=0[/url]
Let us hope the people of Egypt will listen to Mr.Sabahi's words.
[quote]Mr. Sabahi insists the I.M.F. loan would be unnecessary if the country followed his radical prescriptions to turn away from Western economic orthodoxy. In addition to steeper annual taxes on the rich, Mr. Sabahi is calling for Egypt to meet its deficit with a one-time 20 percent tax on the wealth of anyone with more than about $17 million, which he says is about 1 percent of Egyptians.[/quote]
Sounds good to me. But people will cry communist and there will be resistance as always.
i bet £10 it won't work
[editline]31st December 2012[/editline]
[quote]He is calling for a [B]ban on all exports of raw materials[/B], including the important commodities of natural gas and cotton, so they can be used for domestic production. He proposes to increase fees on businesses that use natural resources as well as on real estate and [B]stock market transactions[/B]. And at the same time he wants to [B]expand Egypt’s already bloated public sector [/B]to create more jobs for the poor.[/quote]
what are you DOING
lmao banning export of raw materials
love it when politicians play at economics
it's like a one-man game of jenga, and when the tower falls, it crushes everyone
[QUOTE=DainBramageStudios;39041810]i bet £10 it won't work
[editline]31st December 2012[/editline]
what are you DOING[/QUOTE]
Following the economic policies that every single developed nation on this planet has followed to become developed.
[QUOTE=Earthen;39042332]Following the economic policies that every single developed nation on this planet has followed to become developed.[/QUOTE]
erm i'm pretty sure that's the opposite?
banning exports of raw materials is like a textbook example of what adam smith warned against, and it was only by following the market liberalization he advocated that the west became so successful
Bring back the Federalist party and the Tariff of abominations! I want my protective tariff!
[QUOTE=Earthen;39042332]Following the economic policies that every single developed nation on this planet has followed to become developed.[/QUOTE]
Most countries got rid of inane policies like "ban export of raw materials" because they got rid of perhaps the older idea, which was mercantilism.
Modern Economics was basically created when Adam Smith eviscerated mercantilism for all its flaws and pointed out superior alternatives.
Like, one of the things he said applicable to this scenario is that countries should focus on their strengths instead of propping up industries like this. If raw materials are a good strength, then focus on production of that.
Egypt needs to do what America does when it gets into an economic hole
You gotta fight some dudes in their home country to jump start the economy
If you don't have the capability to use a resource, why the fuck would you NOT sell it?
[QUOTE=Tacosheller;39043046]Egypt needs to do what America does when it gets into an economic hole
You gotta fight some dudes in their home country to jump start the economy[/QUOTE]
Then give fucktons of loans to your country's people even thought you know they never could pay them back in several lifetimes, then crash your economy when shit hits the fan and you need that money back :v:
[QUOTE=King Tiger;39039639]Sounds good to me. But people will cry communist and there will be resistance as always.[/QUOTE]
Egyptians like communism trust me
Not going to fly, taxing doesn't work in Islam. Most Muslim politicians in Egypt won't accept such a thing.
[QUOTE=DainBramageStudios;39042398]erm i'm pretty sure that's the opposite?
banning exports of raw materials is like a textbook example of what adam smith warned against, and it was only by following the market liberalization he advocated that the west became so successful[/QUOTE]
Adam Smith was an idiot, he genuinely thought companies wouldn't outsource because of patriotism. That only happened when governments intervened. Textbook example? Show me.
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