Michael Roberts on the Political Economy of Israel

The 75 year history of Israel is a West Asian slice of the history of capitalism around the world since the end of World War II.

The period between 1958-1972 was the golden age of capitalism for Israel with GNP rates of 10% per year. Then between 1973-1985 its GNP growth slipped to 2% per year. While Western Europe (with the exception of Germany) slid deeply, Israel neoliberalism was kept afloat by huge foreign aid packages coming from Mordor. Now it is in a worse economic crisis and help from Yankees is more problematic, given Mordor’s own economic problems.

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