The People Win: Egypt

The People Win: Egypt

The Market Ticker ® - Commentary on The Capital Markets

Posted 2011-02-11 11:30
by Karl Denninger
in Editorial

The People Win: Egypt

 

Mubarak is reported to have "waived" his right to the Presidency.  That would be a resignation, I presume.
There is a lesson in here for all individuals and nations.  All governments exist only with the consent of the governed.  That consent does not have to be "withdrawn" via unlawful force at-arms or even via the ballot box.
Indeed, it is most-effectively withdrawn when the citizens refuse to go to work!