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NORTH AFRICA

Making the Sahara Bloom: The Blue Revolution

March 2011

From North Africa to the United States, people are rising up and demanding their freedom, dignity, and bread! They are demonstrating everywhere around the world against the corrupt leadership of an already failed system: from the Maghreb all the way to Dresden and even Madison, Wisconsin.  It is understandable that the demonstrators in North Africa do not trust the Western world. After all, those  whom the Western press has suddenly proclaimed to be dictators, were just recently our close allies in the fight against terrorism, and had the full support of the IMF.

Within the last 12 months, the IMF has positively rated Egypt, Libya, Tunisia, Bahrain, and Yemen,  saying that they had “good macroeconomic management,” “prudent macroeconomic policies,” “positive  short-term prospects,” and “healthy economic policies.” Libya was even positively singled out for praise. Praise for a decades-long policy of liberalization and deindustrialization; praise for massive unemployment; praise for 30 years in which not a single ambitious infrastructure project inspired the youth generation. Praise and a Judas kiss for the destruction of their own economy.

Courageous and large development projects must replace IMF policy. There are ambitious designs, such as the Roudaire Plan to desalinate water using the fourth generation of nuclear power reactors, the construction of the Tunis-Berlin transport corridor, and the greening of the Sahara with the help of advanced technologies at

our disposal and those still to be developed.  Although small to medium-sized companies in Europe will play an important role, important decisions must first be made elsewhere. Sovereign states and their governments must overturn the old paradigm and halt encroaching chaos.

An international Glass-Steagall standard  must be implemented to separate  speculative from commercial banking.  Speculative debts will no longer be paid, thus freeing up the massive amounts of credit needed to begin international development projects. The failed global system based on  the free-market economy will have to make room for an international credit  system with the cooperation of sovereign states. Globalization will disappear into the grave it has dug for itself for the past 40 years.

For a transcript of this video, please email schiller@schillerinstitute.org

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