| Summary/Abstract |
For nearly a century, the absence of ethical norms within Lebanese political circles encouraged the practice of corruption that transformed the praxis into an unparalleled art form, one that generated clout-wielding elites. Sophisticated public power mechanisms created for the benefit of the country's eighteen religious denominations, transformed them into partners-in-corruption, secured greater quotas of power, and exclusive hold on all public resources. What this translated into was a “neo-patrimonial” dynamic, which the October 2019 revolutionaries challenged, with calls to reconsider the political management of the country as well as the existing system of government. The 2020 impact of the Coronavirus (COVID-19) disease aggravated conditions, as Beirut displayed amateurish attention to serious health challenges, which added insults to ongoing economic injuries. This paper evaluates what political elites actually did, even at the height of enduring crises, focusing on the banking sector to highlight the rise of a new mafiocracy. It closes with an assessment of future challenges that Beirut will confront.
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