Shimon Peres: If Economists Are So Good, How Did They Let the Economy Fail?

Economists warned, labor unions threatened and party members gave him the cold shoulder. But then-PM Shimon Peres stood firm and pressed ahead with his 1985 stability program, which burst Israel's 450% hyperinflation.

Nehemia Shtrasler
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Then-Prime Minister Shimon Peres (center) during negotiations in 1985. Deputy prime minister Yitzhak Shamir is seated on the left.
Then-Prime Minister Shimon Peres (center) during negotiations in 1985. Deputy prime minister Yitzhak Shamir is seated on the left.Credit: Saar Yaacov / GPO

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