September 24, 2011
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1 comment:
The Israeli economy has provided a laboratory case that demonstrates the superiority of a free-enterprise economy to a socialist one. When the Labor party had a lock on political power and economic policy, Israel was something of a charity case, literally, depending to a large extent on the largesse of successful diaspora Jews, most notably Americans, to subsidize its economy. With the rise of free-enterprise economics under Likud governments, the intelligence and entrepreneurship of Israelis had the opportunity to flower . . . though the Burkean pessimist in me tells me that, just as with the U. S., Israel is only one or two elections away from undoing all it has gained under the free-enterprise system.
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