First published in 1960, The Economy of Israel presents a critical account of the first ten years of Israeli economy. The book starts with a short description of the physical nature of the country and an examination of the Zionist ideas which played a decisive role in the formation of Israel. Part I of the book surveys the economy of Israel and traces the significant features of its development between 1948 and 1958. Part II is not a photograph of Israel’s exchange regulations at one particular date, but an eclectic account of the variable features of a flexible system that had but one constant factor, namely, the absence at any time of an effective unitary exchange rate. Part III of the book contains some general observations that are largely speculative. The book concludes with an examination of the prospects of Israel’s economy with special reference to the charitable aid which has provided it with its life blood during the first decade.
This is an important historical account for scholars and researchers of economics, Middle East economics, and history of Israel.