Income Inequality In The U.S. Is Worse Than In Egypt
Protests in Egypt continued for a seventh day today, and pro-democracy demonstrators are organizing a “march of millions” to take place tomorrow. As financial markets dip across the Middle East, financial prognosticators are trying to divine what continued unrest will mean for the economies of the Middle East and the price of oil.
One of the driving factors behind the protests is the decades-long stagnation of the Egyptian economy and a growing sense of inequality. “They’re all protesting about growing inequalities, they’re all protesting against growing nepotism. The top of the pyramid was getting richer and richer,” said Emile Hokayem of the International Institute for Strategic Studies in the Middle East.