60 years of economic prosperity
Very few countries have managed to grow and prosper so quickly in 60 years, from a standard of living of $3,100 per person in 1948 to today's $25,000; from a country of 600,000 residents to 7.3 million; and from an orange exporter to an international high-tech power.
By TheMarker StaffVery few countries have managed to grow and prosper so quickly in 60 years, from a standard of living of $3,100 per person in 1948 to today's $25,000; from a country of 600,000 residents to 7.3 million; and from an orange exporter to an international high-tech power.
Over the past six decades, Israel's economy has completely changed: from socialist, state controlled to a modern, Western free market economy.
Since 2004, economic growth has topped 5% a year, and 440,000 people have joined the workforce in that period, while the unemployment rate dropped from 11.2% to a low of 6.5%, the lowest level in 15 years.
Along with the news, we are bringing you in today's and Friday's newspapers a number of perspectives on Israel's economy and history, and in particular its successes and failures over the past 60 years - as well as our views and hopes for the country's future.
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