The tragic events of September 11, 2001, in the United States renewed fears of an Islamist wave destabilizing the countries of the Muslim world. Yet the alarm raised over a previous wave of Islamism in the early 1990s, which threatened to overwhelm Egypt and Algeria and spill into the Balkans and Central Asia, proved to be unfounded. Takeyh and Gvosdev assert that while Islamism has been successful as an oppositional ideology of wrath, it has failed...