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A study co-authored by MIT professor Daron Acemoglu shows that demonstrations in Cairo’s Tahrir Square lowered the stock market valuations of politically connected firms — indicating how much people thought a full democratic revolution was possible.

Street signs

Study shows how seriously investors took the possibility of a democratic revolution during Egypt’s Arab Spring.

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Prominent Egyptian pro-democracy activist Wael Ghonim addresses an audience at MIT on Monday, May 23.

Facing the future

Wael Ghonim, the Google executive and lauded online activist behind Egypt’s democracy movement, urges ‘action’ during a time of uncertainty.

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