After the independence, Mohammed V (and after that Hassan II) appropriated all the Moroccan assets established during Morocco’s status as a French protectorate. Whereas, in most countries these assets were either nationalized or privatized. In Morocco on the other hand they become the personal property of the Sultan and his family. (Does the word ONA ring a bell?)

After this period, Morocco entered the so called period of “Globalization” ( or the era of “The king of the poor”). Where in effect, all state owned services and utilities were privatized. Morocco moved from a state monopoly to a regime monopoly.
The truth is, the present situation is the reason why the Moroccan economy suffers from poor competitiveness, which is in return a major factor of Morocco’s trade deficit and underdevelopment.
Al ikhwan al maghrib dialhoum

After independence, Mohammed V (and after that Hassan II) appropriated all the Moroccan assets established during Morocco’s status as a French protectorate. Whereas, in most countries these assets were either nationalized or privatized. In Morocco on the other hand they become the personal property of the Sultan and his family. (Does the word ONA ring a bell?)

After this period, Morocco entered the so called period of “Globalization” ( or the era of “The king of the poor”). Where in effect, all state owned services and utilities were privatized. Morocco moved from a state monopoly to a regime monopoly.
The truth is, the present situation is the reason why the Moroccan economy suffers from poor competitiveness, which is in return a major factor of Morocco’s trade deficit and underdevelopment.
Al ikhwan al maghrib dialhoum

Jillian didn’t say that at all. I only pointed out his wealth from business as compared to the Queen of England’s. Regardless, I do not take issue with money M6 makes from being a businessman, I take issue with how much he is purported to spend on a daily basis, and the fact that his spending creates a negative image for the Moroccan public and for Morocco.

But a bit of analysis. There is no question the Alaoui dynastic family has a great deal of wealth, held privately, and further the Royal Court gets massive subsidy from the State Budget for its operations.

Those are two separate questions, although legitimately interrelated. While some good degree of Palace Expenditure is doubtless justifiable on a transparent basis for reasons of State – diplo receptions, functioning of the Executive, etc. – I am sure some could and should be justifiably imputed on the Alouie dynasty’s personal fortune.

On the side of the King “owning” Marjane and other companies (via the lovely opacity of the ONA holding compnay), that is inexact. The King and immediate family indirectly have controlling interests in ONA, which holds a number of companies (Marjane, etc). However, the Royals are not the majority owners of ONA. Lots of others have a share of that pie. But, as noted, the Royals have both a legal (de jure via shareholding structure) and a de facto control of the company.

Nothing wrong with that per se, private enterprise is a good thing.

However, when the King as Head of State & Executive allows the Makhzen to put the machinery of State to work to favour contra law, regulation and National (versus personal) economic interest by trying to crush or thwart ONA competitors to preserve effective monopoly and thus earn extra profits (not just for the Royals, for the total shareholders of course, who are by extension free riding on the Makhzen exploitation of the situation), that’s bad for the economy. It’s bad for the average Moroccan who ends up paying higher prices for goods in ONA “fiefdoms” and its bad in that Moroccan (and foreign, I speak from experience) entrepreneurs and investors actively avoid trying to build businesses (and thus jobs) where they think ONA wants exclusivity or to be the Big Boy.

Ergo, the Makhzen spoils the free market game, which should be creating wealth, because the flunkies want to extract rents and play little games. You end up then with the average rate-payer and average Moroccan losing out, at the expense of some toadies for no particularly good reason.

Bad for the economy, really against the long term interests of the Monarchy, but does serve the short term interests of some toadies.

Suffice to say, this isn’t an argument over what’s going on, rather, it’s an argument about what is or isn’t right – and neither Bush or M6 are right in this, in my humble opinion.