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Israeli prosperity

Wednesday, 11th June 2008

Harry's Place flags up asuperb piece by Thomas Friedman on Israel's astonishing hi-tech accomplishments, an aspect of the country which does not get covered as much as it should be:

Israel is a country that is hard-wired to compete in a flat world. It has a population drawn from 100 different countries, speaking 100 different languages, with a business culture that strongly encourages individual imagination and adaptation and where being a nonconformist is the norm. While you were sleeping, Israel has gone from oranges to software, or as they say around here, from Jaffa to Java.

...That kind of hunger explains why, in the first quarter of 2008, the top four economies after America in attracting venture capital for start-ups were: Europe $1.53 billion, China $719 million, Israel $572 million and India $99 million, according to Dow Jones VentureSource. Israel, with 7 million people, attracted almost as much as China, with 1.3 billion.

I have very little sympathy in the main for Binyamin Netanyahu, who I think talks a big game but has turned out to be a dreadful PM when in office. But he should be praised from the rafters for one aspect of his career: his time as Finance Minister. Israel was, it is often forgotten, set up on socialist principles, and this has meant the economy was shackled by the worst kind of dirigisme and statism. Netanyahu came in and set the ecomomy free, allowing Israelis to take charge of their own economic prosperity.

In foreign and defence policy he may be severely lacking; domestically, he has been an immense force for good.

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patricia

June 11th, 2008 3:02pm

Israel rocks both as an IT and increasingly as a financial centre.

But you forget to mention the billions of taxpayers dollars, and pounds, ceded to that country from afar, and the awesome military gifts bestowed upon it, that did, to be fair, give it just the teeniest little head start.

Tiberius

June 11th, 2008 4:01pm

Good point, Patricia.

Now, do you know many greenbacks have been donated to Egypt since Camp David? So why no comparable, in relative terms, IT and financial centres there?

David Saffer

June 12th, 2008 12:07am

. . . domestically, he has been an immense force for good.

What! Anyone who lived through Netanyahu's reign as Finance Minister would probably disagree with you there Mr Pollard. His policies did nothing more than increase the wealth of the rich while further damaged those on low incomes.

Lee Jakeman

June 12th, 2008 3:45am

The Jews are a gifted people, whose genius is often denied. Rather that acknowledge their ingenuity, people try to "explain away" their many accomplishments, such as by alluding to all of the US tax dollars that Israel gets in aid. This ignores the fact that most of Israel's achievements have been the work of private companies in Israel - companies which not only do not receive any of the said aid, but are also, due to the high defence spending, operating under a far heavier tax burden than their Western and Eastern competitors.

Elaine

June 12th, 2008 4:29am

Actually, it was the earliest Socialists who gave Israel its head start. They might have outstayed their usefulness, but it's hard to think of a better way to settle a piece of desert than a kibbutz.

THX1138

June 12th, 2008 10:01am

Why post about this? Why is it relevant? Why not a post about the success of the Canadian bio tech industry or the success of any country in any field I wish Israel well but why is her economic success anymore important than any other country?

patricia

June 12th, 2008 10:59am

Because the Zionists have taken over the Schpectator. This is now their in house rag.

szeni

June 12th, 2008 11:35am

Former head of Mossad Ephraim Halevy, who served under many Israeli PMs, writes highly complimentary about Netanyahu in his memoir. Perhaps Mr Pollard can explain what Netanyahu was 'severely lacking' in foreign and defence policy compared to other leading Israeli politicians

patricia

June 13th, 2008 12:09am

I agree that the Jews are tremendously gifted people. Particularly in the arts. In Russia when Jews were not allowed to go to University and ended up taking up instruments. Richter, Gilels and the one who married Scriabin's daughter etc...

Lee Jakeman

June 13th, 2008 12:33am

"Because the Zionists have taken over the Schpectator. This is now their in-house rag." Spoken by a modern day fascist.

sebastian

June 13th, 2008 11:13am

But you would never know from the BBC's Middle-Eastern Business Report which acts ever more like an obsequious advertising agency for Dubai.
Nausiating and wholly one-sided.
This sickening behaviour has, of course, emphatically nothing to do with Dubai's lavish generosity to toadying, global reporters and TV crews.

Adam B.

June 15th, 2008 1:04pm

THwhatever and Patricia, that's fine. I think Israel would like nothing more than to be out of the headlines. Unfortunately, it is the Western liberal/left media that is obsessed with Israel, but only if they can report it in a negative light. Stephen posts something positive to counterbalance this hateful obsession, and you start to complain!

phil

June 16th, 2008 3:18pm

Stephen why are you allowing this daughter of hate to post here-?its not as if she adds anything to the discussion-people with opposing views can be debated with .But please not this kind of stuff-even goebbells would have been embarrassed to say it-
As for Israel it is economic dynamism born out of necessity and truly illustrates the Jewish search for learning and progress which has forever benefited mankind,and long may it continue.

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