Predator Neoliberalism

Abstract

Lebanon, a multi-confessional state, is undergoing a deep socioeconomic change that could trigger a review of its constitutional arrangement. The tiny republic on the Mediterranean was born in 1920 as a liberal democracy with a market economy, where the Christians had the upper hand in politics and the economy. In 1975, Lebanon witnessed a major war that lasted for fifteen years, and a new political system emerged in 1989, dubbed the Ta’ef Accord. The new constitutional arrangement, also known as the “second republic,” transferred major powers to the Muslims. Under the new republic, illiberal policies were adopted in reconstruction, public finance, and monetary policy, coupled with unprecedented corruption at the highest levels. On 17 October 2019, the country exploded in a social revolution which could precipitate the death of the second republic or the demise of the country as another victim of predator neoliberalism.