This paper presents a survey of political developments in Libya since the fall of Muamar Gaddafi. The author argues that, today, social and economic tensions have driven Libya to the edge of a precipice. It has become abundantly clear that a plan for transitional government, first envisioned by the National Transitional Council in 2014, has evaporated. To this has been added institutional stalemate, accompanied by violence, instability and direct confrontations between various Libyan factions. In this setting, a group associated with the Islamic State of Iraq and the Levant has been able to expand its power in the country. Finally, the author suggests that the 2012 national elections in Libya were not in reality, as widely perceived, a competition between Islamists and liberals, but, in fact, a contest for power and influence between representatives of various tribal groups and local leaders.