Wednesday, July 8, 2015

Israel and Greece. Why capitalism works and socialism fails

. On paper, there is no fundamental reason Israel's economy should be growing at a healthy pace while Greece's is not. It was certainly *not* the case, historically. So why the dramatic change in the last 10 years? Read here.
"We hope that Greece will find ways to rescue itself from this chronic crisis," Netanyahu said.
"GDP per capita in 2003 was higher in Greece than it was in Israel. We enacted a series of reforms to control expenditures and open markets to competition. As a result of this, our gross national product per capita has risen by 50% while Greece's, to my regret, has remained the same," the prime minister said.

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