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The Arab Socialist Union (Arabic ???????? ????????? ???????, al-Itti?ad al-Ištiraki 'l-?Arabi; French L'Union Socialiste Arabe) is one of a number of loosely related political parties based on the principles of Nasserist Arab socialism in a number of countries.[1] The Arab Socialist Union was founded in Egypt in December 1962 by Gamal Abdel Nasser as the country's sole political party. The ASU grew out of his Free Officers Movement. The party's formation was just one part in Nasser's National Charter. The Charter set out an agenda of nationalisation, agrarian reform and constitutional reform, which formed the basis of ASU policy. The programme of nationalisation under Nasser saw seven billion Egyptian pounds of private assets transferred into the public sector. Banks, insurance companies, many large shipping companies, major heavy industries and major basic industries were converted to public control. Land reforms saw the maximum area of private land ownership successively reduced from 200 to 100 feddans. A 90% top rate of income tax was levied on income over ten thousand Egyptian pounds. Boards of directors were required to have a minimum number of workers, and workers and peasants were guaranteed at least half of the seats in the People's Assembly. The Charter also saw a shift in emphasis away from Egyptian nationalism towards Arab unity.[1] After Nasser's death in 1970, Anwar Sadat quickly moved away from his radical socialist position. The first seat change occurred in 1974, with Sadat's Infitah, or Open Door, economic policy, which allowed the emergence of a modern entrepreneurial and consumerist society. Then, in 1976, the beginning of political pluralism allowed three political platforms — left, centre and right — to form within the Arab Socialist Union. In 1978, the platforms were allowed to become fully independent political parties, and the ASU was disbanded. Many of today's political parties in Egypt have their origin in the breakup of the ASU. The Arab Socialist Union reflected goals of this stage as the following
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