Published in the New York Times on February 1, 2012 The economy has always been the Achilles’ heel of the Egyptian revolution. “Bread, freedom and social justice” has been one of the slogans of the revolution, but the revolutionaries failed to translate this slogan into specific proposals that could rejuvenate the economy and improve the lot of Egyptians. Indeed, since the revolution broke out on Jan. 25, 2011, millions have been suffering economically. As a result of the precarious security situation, foreign investors have been wary of coming to Egypt, local businesses have been reluctant to pump in more money,…
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