EconoSpeak:
What is going on in the Arab world looks to me most like what came in Europe in 1848, an international uprising with some similarities across nations as well as differences, although in the short run a failure, if not in the longer run. In some countries the ruler is a monarch, but so far none of those have been overthrown. Tunisia and Egypt were essentially military dictatorships, overthwrown by would-be democrats, although we need to wait and see what will happen, with some ugly anti-women and anti-Christian demonstrations in Egypt. As for Libya, recent developments suggest that Qaddafi may not fall after all. Too soon to tell.
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