Emission: Nation Impact - Georges Hazan
There comes the point when culture wars and populism impair a country’s institutions, society, and economy.
That moment has arrived in Israel, where the Knesset, or parliament, held the first reading of a legal reform bill.
Israeli liberals are up in arms. Big street protests have erupted. Bosses have spoken out. Tech workers at various firms in a number of towns held their first-ever strike in protest against the proposals. They walked out carrying signs saying “No Democracy—No High-Tech”.
The Israeli high-tech sector has been seen as a role model of professionalism by investors and startups,” says a venture capitalist in Jerusalem. “A professional and independent legal system is a bedrock for this.”
Israel’s economic miracle depends on mobile capital and a liberal, globalized tech workforce that generated 54% of goods and services exports in 2021. Despite wars, political instability and global financial turmoil, Israel’s economy has been a steady success. Bar a blip in 2020, it has grown by almost 4% a year since 1996.
In many ways, this is Israel's moment, its economy is thriving, and it has new friendships in the Arab world through the Abraham Accords..
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