Comments on: Israel’s Roaring Economy

By: Rowan Berkeley

Rowan Berkeley — Thu, 28 Jun 2007 08:13:18 +0000

I think in the “mysteriously ‘delinked’” remark, B & N are reflecting the standard marxian view of the popular ‘knowledge’ of the press, which is frequently expressed via sarcasm, traditionally by borrowing some term from bourgeois pastoral theology.

I still find it odd, though, that their favoured source for the Differential Accumulation theory should be Veblen, whose primary concern seems to have been that US industry should be rendered more efficient in the pursuit of the racial aims of his beloved ‘dolicho-blonds’.

By: Max Shields

Max Shields — Wed, 27 Jun 2007 20:06:00 +0000

geraldo, I think the term, in the context used, provides information. The delink – not unique to Israel – is between what drive capitalism and its beneficiaries, and the rest of society.

But more importantly, I really don’t see how that one reference could possible undermine the thousand or more words and trend analysis. Maybe it’s a “hot button” for you(?)

By: Max Shields

Max Shields — Wed, 27 Jun 2007 15:58:48 +0000

Great analysis.
I particularly appreciate your wise caveat:
“Before turning to the data, we should note that these conventional measurements of ‘productivity’ and the ‘standard of living’ are highly problematic, both conceptually and empirically. And the same is true for the common emphasis on ‘aggregates’ and ‘averages’ — emphasis that serves to ignore and conceal distribution and the underlying structure of the political economy. We nonetheless stick here to standard practices so that we can question the conventional creed on its own terms.”

As you indicate it is important for assessment purposes to keep this an apples to apples analysis, but the GDP/GNP and consumer index are so rife with meaninglessness in terms of peoples lives as to be just that “meansingless”. But again, even when you make the comparison using standard economic metrics, we are back to the global casino (aka invisible hand) that leaves the shores of Israel. And in that Israel parallels the same outcomes as the US (regardless the “real” GDP differences).
But please resize the graphs.

By: gerald spezio

gerald spezio — Wed, 27 Jun 2007 15:27:59 +0000

Your critical phrase “mysteriously ‘delinked’ ” adds no information to an understanding of any economy – Israel included. Delinking is a handy buzzword for the rampant linguistic obfuscation seen everywhere in the age of rhetoric. Decoupling is another scam word routinely used to “explain away” so-called adaptation to global heating.
Some researchers are looking for the links, not the delinks.