The current social unrest spreading throughout the Middle East has its roots in many causes. In some places, despotic leadership is no longer being tolerated. In other instances, such as Bahrain, religious groups that constitute a majority of the population have been shut out of important roles in the economy. Yet in all of the countries involved, one clear theme has emerged: The citizens are tired of corrupt, sclerotic and nepotistic leaders, and simply want improved access and a shot at a better lifestyle. What’s in the interests of these citizens is also in the… Read More
The current social unrest spreading throughout the Middle East has its roots in many causes. In some places, despotic leadership is no longer being tolerated. In other instances, such as Bahrain, religious groups that constitute a majority of the population have been shut out of important roles in the economy. Yet in all of the countries involved, one clear theme has emerged: The citizens are tired of corrupt, sclerotic and nepotistic leaders, and simply want improved access and a shot at a better lifestyle. What’s in the interests of these citizens is also in the interest of investors. Corruption-free, merit-based economies are always the best place to do business. That’s why the Heritage Foundation annually issues a Freedom Index of 10 components that measure a series of “economic freedoms” such as business freedom, trade freedom, fiscal freedom, property rights and corruption. It’s no coincidence that Iran, Syria, Algeria, Yemen, Tunisia and Morocco all occupy the bottom half of the Freedom Index rankings. Unless you are a member of the elite in these countries and have the ability to bribe and cajole your way into key business relationships, you… Read More