ARAB BUREAUCRACY, RIDHA YAHYAOUI, AND ISLAMIC STATE

Donghyun Park

Chapter 26 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 111-115 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Due to lack of jobs and economic opportunities, which, in turn, is a result of an absence of a dynamic, self-sustaining, job- and wealth-creating private sector, the government becomes, in effect, the employer of last resort. Bloated public sectors bulging with redundant bureaucrats with too much time on their hands inevitably spells trouble for the private sector. Did you ever wonder why getting your passport stamped at the airport immigration counter seems to take a longer time the poorer the country? The explanation is simple: the redundant bureaucrat feels dispassionate about his job and perhaps looks for a bribe on the side. Harassing the private sector to justify their self-worth is a favorite pastime of these bureaucrats. The all too predictable outcome is a growing horde of bureaucrats and mountain of regulations squeezing the life out of a sick and declining private sector which, in turn, strengthens the role of the government as the employer of last resort. In countries blessed with natural wealth — e.g. Saudi Arabia and the other petrostates of the Middle East — government jobs are essentially a costly form of welfare benefits. In less fortunate countries, the proliferation of regulations is typically accompanied by pervasive bribe-seeking and bribe-taking…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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