Moral economics and development in Egypt

Egyptian economic problems are challenges that necessitate mobilising the maximum response forces of Egyptian society at large. The situation makes it imperative that positive cultural values, key factors in economic development, be encouraged. These cultural values could markedly change the country’s economic prospects.

At different periods of history the Egyptian economy proved to be resilient, encountering a gamut of challenges and managing to overcome them. In the current situation, Egyptians are aware of challenges. Between the economic challenges and society’s response, there should be official measures to direct all efforts to strengthen the future of the country and its people.

It is crystal clear that culture and economic performance are linked. Any change in one will affect the other. In achieving development, not only are the ingredients of an economic nature important, such as the rule of law and an investor friendly-environment, technological innovation, investment in physical and human capital and the productivity thereof, but also intangible ingredients, such as cultural values. Development does not stand separate from culture.

Sociologist Max Weber was among the first to discuss the relation between culture and development when he concluded that capitalism is a cultural phenomenon the roots of which are found in religion. Weber argued that Protestantism supported the emergence of capitalism by spreading a moral principle governing daily behaviour and encouraging economic activity.
As we speak about culture and its required role in development in Egypt, it is necessary to define what is meant by culture. The United Nations Educational, Scientific, and Cultural Organisation (UNESCO) defines culture as “the whole complex of distinctive spiritual, material, intellectual, and emotional features that characterise a society or a social group. It includes not only the arts and literature, but also modes of life, the fundamental rights of human being, value systems, traditions and beliefs.”