Suchergebnisse

Egypt occupies an important place in the Middle East. It has,
for the last eighty years or so, acted as the mind of the Arab world.
Its impact has not been confined to the realm of politics; it is
influencing the intellectual, social and economic life of the area. It
claims to have made a first full-dress experi¬ment in socialism in the
Middle East. A study of the transformation of the Egyptian economy and
society is bound to be interesting and enlightening.The Revolution in
Egypt's Economic System is one such study. Patrick O'Brien has written a
valuable monograph on the new system and the manner in which it is
operating. The author has made a systematic study of "the poli¬tical,
legal and institutional framework within which economic enterprise has
operated since the revolution". The book is divided into nine chapters:
two dealing with the pattern of the economy before the revolution and
six discussing the transformations that took place after the revolution.
The last chapter is devoted to an evaluation of the system and of its
achievements in respect of achieving administrative efficiency and
economic equity. The relationship be¬tween government and economy is an
important area of study in the economic history of Egypt. State
participation in the economic field began with the reforms introduced by
Mohammad Ali which led to the emergence of public monopolies. The
transition towards free-market economy began in 1844 and was completed
by 1914. By the mid-twentieth century, Egypt had a predo¬minantly free
market operating side by side with an effective public sector.
Agriculture continued to occupy an important position but significant
strides had also been taken towards industrialization. Around 1950,
Egypt had ac¬quired an industrial structure dominated by the manufacture
of simple con¬sumer goods. Fifteen per cent of Egypt's national income
came from industry and the per-capita income stood at $118.