Column One: Israel’s Premeditated Market Failure, by Caroline Glick
Excerpts;
One of the foundations of the free market is rational choice theory. That theory assumes that private individuals generally make decisions that maximize their profits and utility and do so far better than any collective organization or bureaucracy. Rational choice theory stands or falls on the availability of information. Without the free flow of information, people are unable to make rational choices.
In Israel, as the country’s steady economic growth and high placement on just about every significant global economic index shows, the economic liberalization reforms enacted by former prime minister and finance minister Likud Chairman Binyamin Netanyahu have been a complete success. The Israeli economy is the envy of a Europe that suffers from stagnation and decline.
