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1. Whither the Arabs: The end of the welfare state and the start of a journey into the unknown

Author:
Hani K. Findakly and Kevin A. Findakly
Publication Date:
08-2021
Content Type:
Special Report
Institution:
Atlantic Council
Abstract:
Arab countries, rich and poor, large and small, are rapidly approaching a moment of reckoning. A confluence of anachronistic governance, economic mismanagement, and disruptive technology, which has changed the dynamics of both the supply and demand for hydrocarbon fuels and raw materials, is pushing the region to a tipping point. Together, these factors spell an end of the welfare state and an irreversible break in the social compact that has been in place for the past five decades. The COVID-19 pandemic is merely the canary in the coal mine that serves to expose the region’s problems and inject further uncertainty into its economic future. Neither future instability nor secular stagnation are foreordained for the region. In a new Scowcroft Middle East Security Initiative report, “Whither the Arabs: The End of the Welfare State and the Start of a Journey into the Unknown,” Dr. Hani K. Findakly and Mr. Kevin A. Findakly argue that a positive outcome is predicated on adopting a cogent new social compact with a strategy for an inclusive political, social, and economic system. The authors go on to outline three possible scenarios for the future of the region.
Topic:
Economy, Business, COVID-19, and Welfare State
Political Geography:
Middle East and Gulf Nations

2. Generational Dynamics of Economic Crisis and Recovery: Prospects for Younger and Older Persons

Author:
Nicole Goldin
Publication Date:
11-2021
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
Economic shocks affect young and older age groups disproportionately and highlight the insecurity of the youth labor market and volatility of older people’s savings. The COVID-19 pandemic exacerbated youth labor market challenges and caused young people to either lose jobs or work fewer hours. It also undermined the financial security of older people who tend to own small businesses given that half of the small businesses either closed down or lost significant revenue during lockdowns. Furthermore, COVID-19 exacerbated the digital divide between generations. While younger people are more likely to be technologically savvy, older generations often lack digital literacy to adapt to online work or virtual communications platforms. Dr. Goldin argues that to alleviate the disproportionate suffering experienced by young and elderly age groups during the pandemic, policymakers should increase targeting of social-protection measures, facilitate private-sector investment in education and training, invest in improving digital services and infrastructure, ensure access to financial services, and collect age-disaggregated data on economic and COVID-related indicators.
Topic:
Women, Internet, Economic Growth, Youth, Resilience, COVID-19, Digital Policy, and Inclusion
Political Geography:
Africa, South Asia, Middle East, East Asia, and Latin America