Crony capitalismCrony capitalism, sometimes called cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class. This is often achieved by the manipulation of relationships with state power by business interests rather than unfettered competition in obtaining permits, government grants, tax breaks, or other forms of state intervention over resources where business interests exercise undue influence over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works.
CapitalismCapitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
State capitalismState capitalism is an economic system in which the state undertakes business and commercial (i.e. for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized along business-management practices) or of public companies such as publicly listed corporations in which the state has controlling shares.
Arab SpringThe Arab Spring (ar-rabīʻ al-ʻarabī) was a series of anti-government protests, uprisings and armed rebellions that spread across much of the Arab world in the early 2010s. It began in Tunisia in response to corruption and economic stagnation. From Tunisia, the protests then spread to five other countries: Libya, Egypt, Yemen, Syria and Bahrain. Rulers were deposed (Zine El Abidine Ben Ali of Tunisia in 2011, Muammar Gaddafi of Libya in 2011, Hosni Mubarak of Egypt in 2011, and Ali Abdullah Saleh of Yemen in 2012) or major uprisings and social violence occurred including riots, civil wars, or insurgencies.
Middle EastThe Middle East (term originally coined in English ) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage as a replacement of the term Near East (as opposed to the Far East) beginning in the early 20th century. The term "Middle East" has led to some confusion over its changing definitions, and being seen as too Eurocentric.
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