The Rise Of The Islamist Capitalist

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Fawaz Gerges senses a shift among Islamist parties away from theological ranting and towards the bottom line:

Islamist parties are increasingly becoming "service" parties: an acknowledgment that political legitimacy and the likelihood of re-election rests on the ability to deliver jobs, economic growth, and to demonstrate transparency. This factor introduces a huge degree of pragmatism in their policies. The example of Turkey, especially its economic success, has had a major impact on Arab Islamists, many of whom would like to emulate the Turkish model. The Arab Islamists have, in other words, understood the truth of the slogan, "It is the economy, stupid!" The Turkish model, with the religiously observant provincial bourgeoisie as its kingpin, also acts as a reminder that Islam and capitalism are mutually reinforcing and compatible.

(Photo: Cars drive under a billboard in Cairo advertising Muslim Brotherhood presidential candidate Mohammed Mursi on May 8, 2012. The upcoming presidential election is scheduled for May 23 and 24 and a run off for June 16 and 17 if there is no outright winner in the first round. AFP PHOTO/GIANLUIGI GUERCIA By Gianluigi Guercia/AFP/GettyImages.)