There are alternatives to complete capitulation to the demands of multinationals. I don’t think anyone would regard Singapore as a “failed state”, and I don’t think we see multinationals evacuating Singapore because it does not surrender to them completely.
Egypt has vastly more to bargain with than Singapore, and is vastly more important. There is no reason whatsoever why Egypt should prostrate at the feet of foreign investors.
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“Yet it is also important to recognize that capitalism remains important and relevant, particularly when it comes to property rights and meritocracy.
Rather than throwing the baby out with the bathwater, there is a need to develop an augmented form of capitalism that features strong state involvement in ensuring social equity and the protection of its citizens.
WHILE GREATER STATE INVOLVEMENT MAY NOT APPEAL TO ALL, WE SHOULD ALWAYS REMEMBER THAT GOVERNMENTS ARE STILL ACCOUNTABLE TO THEIR CITIZENS. THE SAME CANNOT BE SAID FOR MARKETS. ”
The role of the state then is to ‘intervene’ selectively and become market ‘unfriendly’ in that process. ‘intervene’ in the market in order to ‘beat’ the market.
This ‘embedded states’ view REJECTS A CONCEPTUAL SEPARATION BETWEEN ECONOMY (in which the market is located) and state.
The state thus has an indispensable role in promoting all spheres of market activities, including production, circulation and consumption.
http://news.asiaone.com/news/singapore/beyond-neoliberalism-road-map-spore#sthash.xl2SzOK9.gbpl
External Context سياق خارجي
http://news.asiaone.com/news/singapore/beyond-neoliberalism-road-map-spore#sthash.xl2SzOK9.gbpl