Israel’s economic growth proves that "economies can thrive even in times of violent adversity".
Former Federal Reserve Board Chairman Alan Greenspan writes in his new book “The Age of Turbulence: Adventures in a New World” that Israel’s economic growth proves that economies can thrive even in times of violent adversity. He also praises Lebanon and even Iraq.
Greenspan writes that he draws encouragement from the ability of market economies to hold on in the face of violence and the threat of violence. World Bank data indicate that Israel has succeeded in creating per capita income at a level that is almost the level of the US, and the same as in Greece and Portugal. Greenspan notes that despite the war between Hizbullah and the IDF, Lebanon’s GDP fell by only 4% in 2006 and that even Iraq has been able to maintain something resembling economic activity in the midst of all the upheavals undergone in recent years.
Published by Globes [online], Israel business news - www.globes.co.il - on September 18, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007