By Joel Kotkin | | PUBLISHED: June 2, 2018 at 8:30 pm | UPDATED: June 2, 2018 at 9:52 pm Jet fighters, smart bombs, terrorism and ethnic cleansing have not exactly improved the Middle East. Yet the perennial world trouble spot is not without resources — an increasingly educated population, massive energy resources and ample capital — but still suffers economically, with the world’s worst unemployment rates. Perhaps the way out of the region’s dilemma lies in allowing entrepreneurs to lead the region out of its current chaos. What warfare has failed to do, perhaps capitalism could accomplish, turning a violence prone disaster area into a marketplace success story. Wherever they settle, people from the region shine as entrepreneurs. In the United States, Middle Easterners traditionally boast among the highest start-up rates. Go anywhere the Mideast diaspora settles — Atlantic Avenue Brooklyn, Edgware Road in London, the Detroit suburbs, the San Fernando Valley, Anaheim and even parts of Germany — and grassroots capitalism flourishes. The Mideast’s capitalist legacy The Middle East boasts a proud legacy of capitalist innovation, notes author Nima Sanandaji in his important new book, “The Birthplace of Capitalism: The Middle East.” He traces the world’s first capital… Read full this story
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