Cover

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Title Page, Copyright

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Contents

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p. vii

Tables

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pp. ix-x

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Preface

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pp. xi-xv

MY ORIGINAL intention in undertaking the research on which this book is based was to produce a study of the social backgrounds and political behavior of Egypt's public sector elite. Having visited Egypt in 1970 and again in 1971, I discovered that the political climate at the time made such a study unfeasible. In several interviews with managers of public sector firms and Egyptian...

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CHAPTER ONE Introduction

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pp. 3-11

ALTHOUGH there are notable exceptions, most attempts at industrialization in non-Western countries have not had a significant impact on problems of underdevelopment. The debate over the causes underlying the failure of industrialization to bring about modernization has been characterized by writings which are either...

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CHAPTER TWO Egypt's Integration into the World Market, 1760-1882

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pp. 12-41

THE FOUNDING of the Bank Misr in 1920 was the culmination of social and political forces that crystallized during the nineteenth century. An understanding of these forces requires an understanding of the nature of Egypt's integration into the world market as the result of the spread of long-staple cotton cultivation. This integration...

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CHAPTER THREE The Contradictions of Dependent Development, 1882-1920

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pp. 42-79

THE PERIOD between 1882 and 1920 was one of profound social change in Egypt. Egypt's integration into the world market was accelerated by the British occupation of the country. Most importantly, this period saw the development of certain contradictions within Egyptian society and the maturation of the...

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CHAPTER FOUR Muhammad Tal'at Harb and the Nationalist Movement

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pp. 80-107

No ASSESSMENT of the establishment and growth of the Bank Misr can avoid the impact of its founder Muhammad Tarat Harb. Egyptian popular mythology places great emphasis on the role TaFat Harb played in the founding and growth of the bank and its companies. Indeed, to believe the folklore surrounding the Bank Misr would lead to the conclusion that a study of the activities...

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CHAPTER FIVE Colonialism Renegotiated, 1920-1930

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pp. 108-133

THE ESTABLISHMENT of the Bank Misr in April 1920, with a share capital of £E 80,000 and its subsequent growth during the next two decades into an extensive holding company with a share capital of over four million Egyptian pounds represented a remarkable achievement. The collapse of the Misr Group at the outbreak of the second world war, which brought its dynamic expansion...

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CHAPTER SIX Bank Misr and Neocolonialism,1930-1941

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pp. 134-168

THE PERIOD between 1930 and 1936 marks the third and most dynamic period of expansion of the Misr Group. During this period, the Bank Misr's largest company, the Misr Spinning and Weaving Co., began production and grew to become the largest spinning and weaving firm in Egypt and the Middle East. In addition, the bank founded a number of important companies, many of which became extremely profitable. Unfortunately, it...

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CHAPTER SEVEN Bank Misr and Arab Economic Development

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pp. 169-191

ALTHOUGH little has been written about the Bank Misr's impact on Egyptian politics and socio-economic development, even less is known about its impact on the Arab world. Within a few years after its founding, the Bank Misr began to explore the possibility of opening branches in neighboring Arab countries and engaging...

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CHAPTER EIGHT The Political Economy of Dependent Industrialization

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pp. 192-212

PREVIOUS chapters have sought to explain the factors that led to the founding of the Bank Misr, its development after 1920 and the financial crisis it encountered in 1939. As should be clear, the rise and decline of the Bank Misr as a central force in Egypt's industrial development was a complex phenomenon which requires an understanding of political, social and cultural as well as narrowly...

Selected Bibliography

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pp. 213-222

Glossary of Arabic Words

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pp. 223-224

Index

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pp. 225-233

[Image Plates]

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pp. 234-237