He makes a compelling point that the comparison fails.
Egypt’s economic performance has been stable and much better than, say, South Africa’s for example. Krugman suggests:
Egypt had decent growth — but the gains weren’t trickling down, and youth unemployment was and is a huge problem.
Which sounds rather more like South Africa. Except with recent data showing unemployment at 9.7% (massively lower than South Africa’s 23.7%) and economic growth above 5% (higher than 3%) and income inequality measured by the Gini Coefficient of 34.4 (compared to South Africa’s 65, which is just about the highest in the world, as in most unequal) Figures from CIA World Factbook
|Real GDP growth||Unemployment||Gini Coefficient|
So if you were to back Egypt vs South Africa as most likely to experience violent political upheaval?