The Economic Views of the Newly Elected Muslim Brotherhood President of Egypt

Mohamed Morsi, of the Muslim Brotherhood, has been declared the new president of Egypt today in an announcement that triggered massive cheers in Cairo’s Tahrir Square.

What should Egyptians expect from their new president? Economic moves in the direction of central planning that will result in more suffering and poverty in the country.

Morsi doesn’t understand the importance of free markets and holds the naive belief that, through central planning, he his going to manage the country toward prosperity. Boy, is this dude in for a surprise.

Here are some of his views on economics as he delivered them in a speech on January 6, 2012.

He starts off by mouthing platitudes about freedom:
..the FJP emphasizes that it seeks to grant citizens the freedoms they deserve, to safeguard the fundamental rights of every Egyptian, and change all practices or legislation that challenge or restrict these freedoms or violate these rights. Freedom is one of Islam’s duties. “Indeed We have honoured the Descendants of Adam” (Quran, 17:70).

Read More at economicpolicyjournal.com. By Robert Wenzel.

Photo Credit: forwardstl (Creative Commons)