How Israel Got So Rich While Surrounded By Enemies
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- čas přidán 19. 04. 2023
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Despite geographical challenges, hostile neighbors, and limited resources, Israel has become one of the world's wealthiest and most advanced economies. This video explores how Israel overcame economic failure, what drives its growth, if its success can be replicated, and its future prospects.
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“Let me tell you something that we Israelis have against Moses. He took us 40 years through the desert in order to bring us to the one spot in the Middle East that has no oil.”
😂😂😂
When God asked Moses which land he wanted for his people, Moses intended to say “Canada” but he had a stutter and it came out “Canaan”…
What do you mean it has no oil? It has Lebanese oil, Syrian oil, Egyptian oil, and even Azerbaijani oil
In a way, he dodged a bullet
To make matters worse he didn't think to bring along Volvic water.
As a Venezuelan EE fan, I find it sadly hilarious that my reaction to every problem shown in every video is “oh we have that too” 😅
Jajajajajaj y como uno argentino también!
Sa True
Ya somos dos....viva Bolivia lol
Argentinian here, i have the same thought on every video 😅
Bro yes!
It’s impressive what a culture that values intelligence and a strong work ethic can do for an economy.
We have that culture in Iran but also one of the highest brain drains in the world. Government is the final deciding factor
Yea plus apartheid and literally genociding the native people
@@eljangoolak Our situation is totally different as we have a theocracy and a corrupt government as well as no foreign investments bc of sanctions.
@@ashkanarzani3856 so basically what i said, government is what caused all that pain for us
@@eljangoolak You support radical Islamist
You’re telling me that an ethnicity that comprises 40% of Nobel laureates in science managed to build a rich country? I am shocked!
Same organization that gave Obama a Peace Prize for starting three wars on behalf of Israel.
Israel's wealth has come from looting FSU and America. Israel not only rigs Wall Street but has also collected Trillions from U.S. military industrial complex after endless 9/11 wars. See: Dov Zakheim
Do you not take billions of dollars of aid from my country (usa)/ our paychecks? Do we not provide universal Healthcare for your country while our love ones have to pay thousands a year to keep alive? Honestly sir can your country still thrive without a single dime I'm sorry to say comes out of our work checks?
@@BarkWhoGoesThereThat is actually a muth, Israel pays for its own health care, but the US does sent money for military though
@@niranjanjpillaicalculus I mean no disrespect just searching for truth can you elaborate on how isreal provides universal health care? I've searched for answers and gotten surprisingly no were searching online . In fact how isreal economy thrives other than aid from other countries is hard to find . It's a real mystery to me.
@@BarkWhoGoesThere Technology dude. They have really advanced technologies in irrigation, salt water purification etc. They provide universal health are by taxes I think.
Given what's happening to majority of the oil rich countries in middle east, i'd say the lack of oil is more a blessing than a curse.
UAE is doing pretty good 💯
@@hhkk6155 all fun game until dino juice dry up
It's definitely not a easy beast to tame...
We're struggling with getting over our oil extraction addiction here in Norway.
We'll get there, but it's slow going as there's a lot of money involved...
@@hhkk6155 for now. If they had been smart they would have done what Norway did with its oil money.
@@rodrigojds they did better than Norway. Oil revenue is like 5% or smth in UAE, down from 95%, they have done it in less than 25 years. UAE is now a world leading business and finance hub, and a premium tourist attraction 🧲
Can you guys make the Economics Explained Leaderboard into a website or something? I would love to check it out in more detail without rewatching every video!
I agree!!! Been actually curious if they have a summary video at least of the leaderboard, but a website with deets may be even better. ❤
Good idea
Me too
I agree, that would be interesting
100%
Israel and Taiwan are very similar in a way most people would not understand (or try to ignore). Both countries were established by the very brightest individuals who moved from Russia and Europe (Israel) and the mainland China (Taiwan). Imagine having your top 1% moving away to another land and establishing it from scratch? They don't have to deal with the issue of forcing everyone to be aligned to one goal. They're very likely to be very responsible with their resources since everyone wants the best for their new country.
Both established by the US to have control in the region*
@@cheeseflavoredsoda3262Israel? Sure. Taiwan? Barely. The current Republic of China dates back to 1912, before the US could make that type of splash so far away
@@cheeseflavoredsoda3262no Taiwan already existed as Japanese colony they took Chinese immigrants and settle them there plus Britain created Israel only usa helped them post WW2 with veto
@@osheridan Israel was created by British
Whitout US both would be poor like their neighbours
Great job, brother. Keep up the
good work.
EE videos are one of my favorite parts of the week. Also, my sympathy to whomever is going to be moderating these comments.
Just wish he wouldn't add an extra syllable to final word of his every sentence
so far, not much going on. Pretty chill. There was one idiot trying to deny Moses ever existed and that the Israelites were ever slaves. The best reply so far was: "Oh, first Jesus didn't exists, now Moses? Who's next, Adolf Hitler, Albert Einstien?" It was beautiful.
Feel like he did a good job avoiding anything controversial except calling Hong Kong a country.
@@MrLegendra only Chinese shills care about that
*whoever
😜
A few corrections. What finally got hyperinflation under control in Israel in the '80s was a strictly enforced price and wage freeze. The new currency was more of a psychological fix to get prices into single digits for a loaf of bread that people could relate to instead of the millions it cost before. Almost 40 years later and there are still a few products that are still under strict government price caps. While Israel did absorb around a million people from the former USSR, many of those people were elderly and they were a significant drain on the economy, and very few were actually engineers that could be quickly employed in the yet to emerge hi-tech sector. It's actually the second generation of these immigrants that went to Israeli schools and pursued STEM degrees that makes a big contribution to the current hi-tech scene. Israel's economy was also very lucky in that it didn't take too big a hit in 2008 and during COVID. Israel's lack of a significant local market is actually a blessing. This causes most tech startups to think globally from day-one.
I'm sure the $158 billion in welfare checks and charity aid the US has donated had little to do with it.
@@gregmark1688 US gives more foreign aid to Egypt. Where did that get them? Also, US foreign aid to Israel is basically vouchers to only buy US military equipment, pumping up US industry. But facts aren’t what concern you. You just really really hate that Israel exists.
@@gregmark1688
So what? The US also gave $130 Billion to Afghanistan and $80 Billion to Egypt, and what economic prosperity did that create?
Furthermore, the aid is not actually given in money that goes into the economy but in vouchers for US weapon systems. Thismay affect the military significantly but it does not affect the economy.
In actuality, most US states receive much more *actual spendable* money from the US and still their GDP per capita is lesser than that of Israel😮
@@shaylempert8500 It does affect the economy a little in that Israel doesn't need to spend as much on defence (though it still spends a lot)
@@aviweiner1614 In fairness, Israel necessarily has defence expenses that are reasonably higher than most countries because of its geopolitical situation. So in a way, it evens out.
Have to look at things in perspective, lots of countries who have their backs against the wall scenarios like Israel, Singapore etc, tend to do well in spite of their limited resources because of having an existential crisis.
Shame on large nations with lots of resources as they tend to take them for granted and neglect their most important resource, their people.
Yes. Instead, they blame the other people and things, ranging from colonialism to racism, rather than reflecting on it and/or learning from it. More importantly, they too, also will vote for the same party and/or policies again when they have a chance at it or at other places!?
Yup pretty much explains most of Africa
to stay in business, one has to keep moving, be alert
and if it werent for other nations constantly funneling money to this terrorist group they wouldnt have the money they have
@@tenglim4406Colonialism and racism lead to market inefficiency and poor resource allocation so what you spew is non sense.
Love this vidoes as while they're no substitute for doing your own research, as an student that has an economics module, it does make it easier to understand, and just more enjoyable.
One thing about other countries trying to replicate Israels success is that simplying copying fiscal and monetary policies doesnt always produce the same results. Israel was able to pull it off because it has a lot of human capital as well as strong government institutions. A country like Pakistan with very low human capital and weak institutions would have a much more difficult time make those policies work.
@@elibunches6044 us aid didn't helped Israel economy. Israel was badly managed till 1980s. Otherwise Egypt, Pakistan and many countries will have strong gdp cause of aid given by usa
@@elibunches6044 US foreign aid to Israel is a drop in the bucket, less than 1% of Israel's GDP.
Not to mention the United States paying for their military.
Peace!
\o/
@@Unknown-jt1jo
3 billion a year + loan guarantees.
But if it is a 'drop in the bucket' I guess they no longer need it.
Right?
Peace!
\o/
@@elibunches6044 economic aid to Israel is insignificant. you're speaking about military aid, which isn't given in cash. It's given to US companies. Either way, a lot less than Biden handed over to the Taliban and at least Israel is deserving. You clearly have no perspective.
I wonder where the international space station would be on the economics national leaderboard. Sure there is a lot speaking against the ISS, but it's GDP per capita should be downright astronomic!
Also, for comparison the late russo/soviet Mir would be a nice addition, for reference. Unless the former inhabitants are members of the duma, I bet they at best own a 43m2 apartment in a nasty kruschevka and gdp per capita is at the levels of Ethiopia 🤣
It gets 10 out of 10
Pun intended?
@@howtoappearincompletely9739 of course
10 out of 10 for GDP per capita, but its growth prospects don't look great. There is a private company (I forget which one, as there are many aspiring to build space stations) that has a blueprint to attach their module to the ISS and then disconnect from it before the ISS mission terminates. This would in effect keep the spirit and some of the equipment from the ISS in orbit, however, the invasion of Ukraine has shortened the life of the ISS, and thus I am pessimistic that this concept will launch.
I am super hyped for Gateway and the other potential space stations in the coming years and decades. As a big StarCraft fan, the namesake of Gateway makes me happy.
Great video,informed.gbu🙏
They get annual funding from America and the west...a lot of funding from other countries tax revenue...
One of the other very smart decisions the Israeli govt made was to institute programs in their high schools that allow talented students to do apprenticeships at various companies before they even finish school. This results in graduates with perfectly-tailored job skills and experience for the big value-add sectors, and those companies can just hire many of them straight away and get immediate productivity. I think we could desperately stand to implement this model here in the US instead of throwing everyone at college and plunging those kids into intractable student loan debt.
Maybe if we'd spent $158 billion on our education system, instead of donating it Israel, maybe we could have afforded that kind of system, too.
@@gregmark1688 Uhmmm, probably not. Not only does public education spending in the U.S amount to $666.9 billion ANNUALLY, but of the $158 billion in aid you mentioned; only $34.4b has been economic aid(actual money) spread out over a period of 74 years…
I’m not going to break it down mathematically because it would be unfair not to adjust for inflation, but even if we’re being generous, it only amounts to a fraction of a percent difference in “lost education spending”.
None of this even matters because spending actually stops short of what the U.S(fed, state and local governments) budgets for.
@@yossi1491 fair point
Not going to work because "muh child labour" and "muh privilege" folks will get involved. Does the US citizenry have the mindset required?
Germany has been doing that for years too, just not only for talented students but basically everybody.
Israeli Economics MA student here, most of the stuff said in the video is great and spot on! Israel's strength is its top-of-the-line fiscal and monetary policy. Despite this, there is a huge issue in Israel that has been growing in the recent years and it needs to be addressed - the ever growing disparity in labor productivity in the country. The burden on productivity is actually growing on a smaller percentage of the population - because a fair amount of the economic growth is due to population growth in less productive demographics (specifically Haredi populations who do mostly do not take part in highly industrialized sectors and do not partake in investments in human capital).
So these very productive sectors, who are mostly characterized by high export rates do not see the economic benefits of the population growth. For more information I would highly recommend to read works by Prof. Moshe Hazan and Prof. Joseph Zeira
Yep, pretty surprised they did not mention that at all
It also glosses over the massive foreign aid in the past does it not? Or did I miss it?
@@dylanwebb2 that's foreign aid was pre new sheckel anyway
Just do new haredi.
@@dylanwebb2 the "aid" is military loans. It actually makes a lot of interest for the US, which is meaningless because Israel is a fraction of the US.
Fantastic video, really enlightening, thank you!
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
Great info thanks
I would also like to hear about Brazil's hyperinflation recovery, at some point. Just suggesting a topic.
O plano real foi inspirado justamente neste plano israelense. Infelizmente, o FHC não conseguiu completar todo o plano.
The problem is that it was a solved problem, but it Just got back a few years ago. And right now it's actually an argument against this video, because even with The inflation controlled The country Still has one of The biggest real interest rates in the world, showing that an independent central Bank it's not always good.
@@renatofernandes7939 What do you mean? Hyperinflation in the 80s was solved? Or are you suggesting that the more recent inflation (c. 2013) hikes were hyperinflation-which they weren't by any textbook definition I know.
Regarding the independence of the central bank, I'm not sure there's a clear cut answer. I'm assuming you already know the cons, so let me argue the other side: It can be positively terrible for a country to have the entire monetary policy decided by whoever wins an election, regardless of how temporary or mistaken a given political "trend" is, especially given they will already be in control of fiscal policy. Turkey is a prime example of what happens when the central bank is not independent: the president lets inflation eat away at the economy and fires any economy minister who says he must hike interest rates.
@@dr.victorvsthe pros are always hard to see. It's almost like one needs hindsight to realize what was good in certain ways.
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
I was waiting for this for so long!!
It's called American dollars.
Great video!!
Man as an Israeli who watches your videos regularly, I've been waiting for this video for a very long time. Now I get it just in time for Israel's independence day. I'm glad to say the video didn't disappoint. Great job!
Israel's colonization day
Same here (-:
Same
אתה לא היחיד שרואה את הסרטונים שלו באופן קבוע.
And i hope the current govt won't muck it up too much because of their hardcore populism
@@tomertzaig2627 I am a big supporter of the elected government and I wish the personal vendetta against Netanyahu would cease.
Amazing video, keep em coming
Always interesting, thank you.
Brilliant, informative interview! Always good to listen to the veterans of the field, Thanks
It would be interesting to also see a Gdp chart for every one of these countries split for agriculture, services, industry, ...
Wikipedia still exists as of today...
The IMF estimated Israel's GDP at US$564 billion and its GDP per capita at US$58,270 in 2023 (13th highest in the world), a figure comparable to other highly developed countries.
Yea U.S. money is liquid gold.
@@amitsunoko7270 0.5% of their GDP is from the US.
@@amitsunoko7270 3.5 billion dollars are given to Israel in arms credit. Nothing of that is calculated in Israel's GDP. Stop the bulshit.
$250b of that 500b is US aid oger 70 years
@@TrystanTyrell-dd1px israel's gdp is 500b per year
us gave less than 200b in 75 years
thats around 2.5b per year
that's 0.5%
Theft.
Been waiting 2 years for this
Interesting video but where is chapter 4? 2:15 of the video they say they will discuss if the economic success story of Israel could be coming to an end, but then this question never comes up again!
I think it was kind of made unnecessary by the entire remaining part of the video being how they're growing very well and building up very stable and sustainable industry. Probably just added in for viewer retention lol
My guess is that they cut the part on the demographic shifts: While Israel has a sector of wealthy, well educated population, there are other sectors who are less wealth and even poor like the ultra-orthodox or Arabs, and nobody has any idea what to do about that, so it's not certain the success story will continue. The political situation which was bad in the 80's but looked to be getting better is about the same but looking to get worse, so confidence is an issue. It reminds me of a lot of the problems in California: The economy is much better in numbers than in person, and there's no real solution to any of the long-standing problems.
The current government is a big threat to Israel's economic future
yup... 🥳
Forgot to mention the $260 billion dollars given by the American taxpayer.
Reading through the comments section for someone to mention handouts from Americans taxpayers, Yours was the first I found. He also forgot to mention the rate of unemployment among the citizens of Israel.
israel actually developed its jewelry industry due to its deep alliance with apartheid south africa which was the world's largest producer of gold and diamonds
This is not about oil or no oil. This is about culture. If books and reading was part of arabic countries dna (not just a privelege) - we all would already be happily living in a worldwide khalifat
Quite opposite, oil gives you illusion of wealth and power, and more huge reasons for corruption and wars as you sea now in Israel around gas.
Amazing content as always! Would be very cool to see an update on Germany and see it placed on a leader board 😅
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
Small but fascinating ❤
🇺🇸 🇮🇱 🇮🇳
Very good video. The hyperinflation was related olso to the big banking froud in those years.
Your videos are always great, but I would like to be able to visualize the leaders board for a little longer
One more little but significant thing not mentioned in this video: Israel has been labelled the "Start-Up Nation" due to its technological and military expertise.
US tax dollars
Not related to this, but I would love to see a video on Non-Market housing
Thanks a lot for answering my request and reviewing Israel economy. The timing could not be more interesting as i am currently in Australia
Very sentimental Video
God bless Israel
Very interesting video
Hey mate, I would love to see you re-rank Switzerland on the leaderboard after the Credit Suisse crisis.
(Implying a single bank failing can affect the economy of an entire nation...)
The wealthiest company on earth is poorer than the poorest developed country, and that's with assets spread on all continent.
The failure of CS will probably not even reflect in a percentage change of GDP growth for switzerland....
@@AnimatedStoriesWorldwide thanks for your reply. However, take a moment to remember Lehman Brothers and how its debacle triggered the GFC? Now, the combined UBS is twice the size of the Swiss economy and hence too big to bail. The glorious Switzerland isn't rich enough to bail UBS and it's hypothetical failure will reek havoc across the global financial system.
@@mdkddkkdkdkd4692 Other countries might step in. Then again they might not.
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
1:45 Todaaaaaaaaayeee🤣🤣🤣🤣
Aussie accent😅
Very impressive
"Not too many people are buying missile defense system" this says a lot about society.
WE live in a society 😮
Smart to not show the map in the beginning
Would have been greatly controversial
This channel leans to PC. That's why it's left-leaning biases.
I wouldn't even be sure Israel is doing so good DESPITE it's political situation.
It could just as well be BECAUSE they have to be careful at every step, stay alert, can't afford to doze off in a corrupt swamp and have to maintain an amazing discipline to maintain their stand.
It's not like being unsuccessful or even mediocre is an option. It's be successful or get overrun by your neighbours.
Israel wasn't actually invincible in the 6 day war. The Syrian Army was giving them a good whooping. Only for the UN to negotiate a ceasefire. Syrians troops learned of the order to stand down from radio broadcasts. Guess who was the defense minister of Syria at that time?
I really liked how you recognized Hong Kong. Good job
Is EE going to do a video on the new RBA policy reform that prevents the board of the RBA from setting interest rates? That will be a very interesting change. Seems like a big backwards step.
the new board is composed of the governer of the RBA. So the governor and the RBA still set rates. Its just that the old board was full of 'business' people who had no ecenomics experience. The new board will be composed of economics and finance experts
@@michaeljamescollins6800 To say business people don't have economics experience is clearly wrong. They are often the best and most connected people to the real economy. Doing everything from theory often causes problems with unintended consequences. They should simply have admitted they had the wrong composition of the board and made some changes. The headlines came across poorly and were quite misleading.
I’ve been waiting for this video for years, thank you so much!
A few things that are worth to mention:
Israel has a very impressive agriculture industry, leaning on innovative farming techniques and water purification methods that were locally developed. The produce, wine, olive oil, and other products here are considered to be top tier, however Bering that labour is expensive in Israel the products are not extremely competitive in the global, or even local markets.
The export of many high tech companies, and military equipment is also a main source of foreign reserves, and that has been a huge help for not only stabilising the shekel, but making it into a strong currency that allows for easy imports, and gives our population the opportunity to travel the world cheaply.
Do you suppose the success of their agriculture relative to their neighbors has anything to do with the fact that they illegally invaded and annexed the primary water sources in the region with their US-supplied tanks and guns? Nah, probably just a coincidence.
@@thotslayer9914 אכן. כתבה שטחית. עד לפני חמש עשרה-עשרים שנה היה יותר זול כאן ורוב האזרחים היו יכולים לקנות דירה בשכונה טובה או לשכור דירה באזור ת"א-רמת גן
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
רק מראה שgdp per capita הוא נתון שאמנם יכול להצביע על דברים מסויימים אבל מעלים עין מדברים אחרים. יוקר המחיה בישראל משוגע והכסף מתחלק בחוסר שיוויון משווע. אני עזבתי את הארץ, בן 31 ועם שני דירות. יכלתי רק לחלום על זה בארץ.
you have forgotten to mention USA. WIthout USA , nothing would have been achieved in israel.
USA is the sole reason why israel has achieved all the advanced technology and for israeli poeple can travel the world cheaply.
Good explained
Interesting historical perspective. I believe the effect of gas production has been very modest. The economy has been very succesful for quite some time even before gas started flowing. What is significant is the substantial scope to further increase gdp given the population growth rates and the growing numbers of women, ultra orthodox and arabs into the economy
I waited for this so long
Can you make a video about Chile? You're the only guy in youtube who can do a reliable analysis of its economy without getting political about it.
Chile should be an interesting one, and I look forward to it. Curious to see how it compares/contrast with Argentina
@@Dorlan2001 He already made a video about argentina but i think its the best example to compare in the region, specially in recent times.
LOVE AND RESPECT TO ISRAELI BROTHERS AND SISTERS FROM INDIA 🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡🧡
A very clever population. I love that.
Because they are smart and are not lazy
The two Opposites of what Anti Semites tend to be:Lazy and Stupid.Just like the SJWs.
This is really informative. I really appreciate the amount of effort that's been put toward these videos.
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
Where can I find the national leaderboard? Is there a website or anything?
It’s his own made up personal list on this CZcams page not on a website
“Not many people are buying missile defense systems”
WHY AM I LAUGHING AT THIS SO HARD 😂😂
You are laughing because of the deception of the video.
@@alfapaul5593 yeah fair enough
Now they are !
Billions from US taxpayers
Great video again, I really enjoy your analysis of countries and would love to see more countries but especially I’d enjoy a new video about Germany since the last one was made before Covid and the Russian Invasion and didn’t yet include your ranking. Also it was more of a historical analysis of Germany and I’d love to hear your analysis on the current state of the economy with high energy prices due to a previous dependency on Russian gas, the fall away of nuclear energy and the general green transition goal of climate neutrality in 2045. Germany is heavily reliant on fossil fuels for its car manufacturing and heavy industry but is adapting by electrifying processes and starting to use hydrogen. I’d guess this would be a very interesting topic. Thanks and keep up the great work 👍🏼
Hi EE,
Been huge fan of your videos for years now. There is a little problem in this video.....where is Chapter 4 stated @2:14 of the video?
Also for Chapter 3 question, I wasn't able to get any direct answers from the video.
While watching, I was thinking maybe Turkey could replicate as it does have foundations needed like educated ppl etc....that's when I also realized there was no direct answer for Question 3 given either.
Maybe make this 2 part video to address those.
American taxes
They make whatever is given to them better.
This video looks fantastic! Better than earlier videos. Well done, editor!
Agreed, it looks a lot better.
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
Hi economics explained! I have been watching your channel for a while now. You consistently make undoubtedly the best economics videos on CZcams. I greatly admire your style of explaining a country's economy. Can you please make a video about the economy of Bangladesh? The country has grown magnanimously in the past 30 years. I think it would be a great video
ohh yeah that would be interesting to see
The way this guy says todaaaay 😂😂😂
Lol 😂
I was hoping this would be a video about succeeding personally myself, but I guess the world is still against me.
Hey am one of those 9.4 million 🎉
Make a video on Brazil hyperinflation in 1990s
Why is Israel the number recipient in foriegn aid from the U.S. ? Let’s not forget that
it’s expensive maintaining a defence system as large as the iron dome, go figure. when you have people launching thousands of rockets into your country, that generally costs a lot to maintain
Israel would go bankrupt if left to pay for military expenses alone.
Iaraelis r hella smart and its do or die in MENA.
Do Egypt next please!
First, I want to thank you for your videos, I Watching them every week.
As one who lives in Israel I Waited so long to watch your video about as, and it was worth it.
Thank you so much.
"Turkey, formerly Turkey" I laughed out loud.
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with COURTNEY HEATH WILLIAMS, a financial consultant regulated by the SEC, and started small, but eventually accumulated almost $1 million.
@@christianaemilio1Please if you don’t mind, could you please share the contact information of your financial advisor, because I’m seeking for a more effective investment approach on my saving.
His available on telegam with the username information below.
@@christianaemilio1I appreciate you for sharing. Finding his handler was simple; he appears to be knowledgeable and adaptable. I drop him a message hoping he responds.
I would be curious for your opinion on the book "Startup Nation", which about Israel's economic transformation from essentially a socialist state to a tech hub.
The only way to being a tech hub is through a socialist state, especially for new nations (I don't say this as a socialist, I don't lean left). The first generation arrives, mostly poor and uneducated so it needs free public services to guarantee the second gen can focus on studying manufacturing so that the third gen can shift to a service/STEM economy.
Nobody ever arrived in a quasi blank place, and had kids that became engineers, while struggling to get running water.
@@AnimatedStoriesWorldwide I agree. But the fact is that plenty of countries start of socialist and are not able to transform themselves into economically powerful tech hubs the way israel has. Israel isn't the only country that has been able to do this, but the list is relatively small and israel has done very well even in comparison to other countries that have successfully transitioned from socialist to market economies. The book I mentioned provides one explanation for why israel has transitioned so spectacularly. I would be curious what EE thinks about that explanation.
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
@@AnimatedStoriesWorldwide Really? Because that is, roughly, the history of the settling of the American west. Pioneers and settlers staking out homesteads in the hills, forests, prairies, mountains, and deserts of the expansive west, without power, running water, paved roads, or even governance. But they were literate, set up schools, and advanced themselves. No socialism in sight.
@@dawnfire82actually the US had a history of socialism policies when you look back at it. for example giving land ownership to settlers in the west. also, the support given to children and students of the baby boomer generation after WW2.
while USA isn't nor wasn't a socialist country, you can see several socialist policies in it that were an important boom in the economy.
also, there is a difference because the USA took more then a century to become a major eorld player (with a huge territory and lots of citizens) compared to israel's 50 years to become a major high-tech competitor in the world, without the same amount of lands, people and recources that the USA had.
Good video but does skip the recent political upsets and demographic shifts in the country
True. But as an Israeli anything that will be said will be a big guess.
We cannot really predict what's gonna happen with the demographics.
The judicial reform the government is trying to pass is actually predictable..
They(the government) will fail. Even if they manage to pass some of it without a consensus the Supreme Court will simply cancel it..
They are also down by a lot in every single poll
Because saying Israel is an apartheid genocidal regime is kinds bad for yt monetizationn
@@Proletariat-intifada God bless Israel 🇮🇱 " Genocidal she says 😂"
why last syllable always gets stretched and goes up? 😂😂
If they are so rich why do they still take American and European aid ?
That's like saying "if Elon Musk is so rich why does he still accept government subsidies?". Because extra money is always useful?
Those countries give that money essentially for military operations like running the iron dome, because Israel is a useful outpost to them and they don't want it getting wiped out or attritioned by missiles coming from hostile neighbours.
It's not just about the money, giving and receiving financial\ medical or any other kind of help, is a diplomatic way of strengthening ties between countries.
Israel is wealthy but not wealthy enough to afford substantial heaps of debt. Considering the circumstances of being in a volatile and hostile region, military spending is a necessity for Israel. Military spending is usually the highest expense for a nation that doesn’t have its own arms industry.
Israel would go bankrupt with US military aid
I love how much I can learn from your videos... especially when you have little snippets like "turkey, formerly turkey"..... which at first made no sense, until a bit of research led me to discover that the name was officially changed from Turkey to Türkiye last year.
I am going to have the metaphorical comment fire extinguisher ready
Harel is an insurance company, and Bank Hapoalim is, well, a bank. not exactly industries, let alone high tech
I'm surprised there still so little free air comments
God Bless Israel and God Bless Jerusalem.
I think small nations like Israel are in a much better position to manage their economies better than larger ones. Other than china their's hardly any other country of its size that could change it's economic trajectory by such margins.
India might
why other than china ...japan is over 120m
@@emmanuelezele7281 but it's declining power
@@shithalshetty9762 funny west propaganda
@@emmanuelezele7281Wait, why would that be West propaganda? Japan is one of the US' strongest allies. And it is declining.
A well crafted and entertaining video that was quite interesting and it didn’t pummel me with woke leftwing politics….I’m hooked on EE!
4:29 "...Turkey, formally Turkey..."
😂😂😂😂 I get it, but still...
Human Capital matters very much. And for Human Capital, you need a culture that promotes hard work and smart work…
Thanks for featuring israel EE!! Love your videos, and glad to see your analysis of us 😊
Points you conveyed accurately:
- the highly educated population, skilled migration and tech boom are spot on
- the recovery from near economic collapse was spot on, and truly remarkable compared to other countries facing such issues
Some minor pointers:
- the discovery of natural resources happened around 2007, so the skilled migration boom and tourism were big way beforehand since the early 1990s
- although we're good at semiconductors and other manufacturing, software has become huge in recent years.
- israel does struggle with very very high cost of living
- arguably, the reason tech boomed is because of very complicated bureaucracy in every other sector. The government didn't help that much, it mostly did not interrupt!
I’ve noticed that Israel seemingly has a lot of health/medtech companies. Curious to hear what you think is driving that
@@michaelali4488 One of the reasons is that Israel has a hybrid healthcare system, where it's mostly public, but private enough that doctors are encouraged to do/publish their own research. Moreover, a huge percentage of Israeli doctors studied abroad, so the local med schools have absolutely insane requirements, i.e. locally trained doctors are only the cream of he crop. Finally, the government invests quite a bit in medical research, and has removed many regulations, so Israel has relatively relaxed medical trial and data collection/sharing regulations. This drives medical research automatically, because health data analysis is much easier than, say, drug development.
You forgot to mention that people who join the military to learn about cybersecurity will often times land a job after done serving
@@michaelali4488
@Ynhockey summarized it well, I'll emphasize the issue of data availability
The Israeli healthcare system is based on "vouchers" - different healthcare providers convince citizens to join them, but instead of being paid by the citizens they get paid by the government
This creates incentives for providers to give the best possible service at the lowest cost, so they get as many citizens / revenue as possible. In order to make it easy for citizens to switch providers, there is a centralized and anonymized database with all the medical records of all citizens.
This makes medical research and development incredibly easy - it's so much easier to track the efficacy of existing treatments and to suggest new ones when companies can see the real world health status of millions of people. It's also one of the reasons we got Pfizer vaccines early - we helped Pfizer prove the vaccine's effectiveness on an entire country rather than a relatively small control group.
The voucher system is a great way to allocate government resources in a way that incentivizes the common good - let's hope we see more examples of this in all countries
As someone who lives in Israel, I completely agree with you.
I've been making the same arguments as you for a long time: the only way to make money in Israel is in high tech, which benefits from massive tax breaks and subsidies.
While I am pleased that the technology sector is thriving, I believe the government should work to extend these tax breaks to all businesses by lowering corporate tax rates, simplifying taxes, and reducing bureaucracy.
A very well explained video about Isreal and how it shaped it's economy!!
Palestine for the Palestinians. Israelis are illegal immigrants who must return to Europe
Thank you , I asked it under the south Korea video....