May 24, 2008

Israel, el estado IPO:

Israel punches way above its weight class in initial public offerings, patents, and technology in general. It should - the nation is itself, after all, an IPO. In 1948, the country was an act of entrepreneurship - an idea, an implementation plan, setbacks and then success. In this way, it's a lot like its closest ally, America: utopian vision, harsh reality, painful lessons, improved performance. Like America, it had its failed experiments with central planning and inflationist policies in the 70s. Like the US it lurched towards markets in the 80s, and again in the 90s. Like America, it has staked much of its future on commerce with other nations.

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