Monday, January 31, 2011

Mubarak orders economic miracle

CAIRO Jan 30 (Reuters) - President Hosni Mubarak, facing a popular revolt against his rule, ordered his new cabinet on Sunday to preserve subsidies, control inflation and provide more jobs, state television reported.
Seems like if that trifecta was possible it would have been done already.

Related: A new government, hopefully a truly democratic government, will face difficult economic choices. Eliminating subsidies and government provided jobs are necessary for setting an economy on a healthy path, one that will benefit just about everyone. But as we have seen in many other instances, when these policies have been adopted there are protests sufficient to threaten the survival of the government. The benefits of these policies are not well understood.

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