1. In 1948, conventional wisdom considered the newly-reestablished Jewish State insolvent economically, indefensible militarily, a basket case, totally dependent upon handouts.
2. In 2018, Forbes Magazine quoted Warren Buffett (February 26, 2018): “I’m not Jewish, but Israel reminds me of the USA after its birth. The determination, motivation, intelligence and initiative of its people are remarkable and extraordinary. I’m a big believer in Israel’s economy.” According to Forbes, “Buffett just purchased a $358MN stake in Teva Pharmaceutical, 1.8% of Teva’s outstanding shares…. In 2006, Buffett’s Berkshire Hathaway purchased an 80% stake in Israel’s Iscar for $4BN, its first international acquisition…. In 2013, Berkshire bought out the remaining 20% for $2BN…. Other Israeli companies purchased by Berkshire include eVolution Networks, creators of wireless network energy savings software, Ray-Q Interconnect, a distributor of electronic components and AgroLogic, a designer of electronic control units for agriculture….”
3. Amazon’s Israel – Island of Success by Adam Reuter and Noga Kainan provides critical data on Israel’s surging economy:
From 1987 to 2017, Israel’s population upsurged from 4.4MN to 8.75MN; GDP – from $35BN to $358BN; GDP per capita – from $8,000 to $41,000; tax burden – from 45% to 30%; foreign exchange reserves – from $4BN to $112BN; national debt to GDP ratio – from 155% to 59%; defense expenditures- from 17% to 4.5% of GDP; US foreign aid (actually, US investment in Israel) – from 7% to 1% of GDP; exports – from $10BN to $102BN; independent energy resources – from 4% to 65% (66% of electricity consumption); desalinated water – from 3% to 50%; annual inflation – from 16% (450% in 1985) to 0.30%; life expectancy – from 75 to 82 years; women’s participation in the job market – from 36% to 58%.
Since the year 2000, Israel’s economy has grown 65% – 2nd best among the OECD countries.