So the economy doubled in five years, and two thirds of Egyptians thought the economy wasn’t good? How is that possible? Perhaps this is a clue. This is the percentage of people living in poverty in Egypt, for the same time:
While the economy doubled, the percentage of people living in poverty in Egypt actually rose. No wonder there were riots. (Although it’s the speed that’s the issue here – the UK is really no better, just over a longer time frame)
Two lessons to draw:
1) When politicians insist that growth is the only way to end poverty, it isn’t necessarily true. It can work, but only if the benefits are shared.
2) When foreign policy responses to the Arab Spring turn to economics, be wary of those claiming that Egyptians need more free trade alongside free speech and free elections.
– from makewealthhistory.org