Saturday, April 20, 2024

Israel’s Economic Miracle

Israel’s Economic Miracle

Israel’s Economic Miracle is well comprehended in the entire world. If one peeks into the Business world; the multinational corporations or huge ventures belong to Israel. Moving on to the innovation world, we have learned that Israel has mastered the art of innovating new devices from agriculture to medicine from Biotech to aeronautics and everything.

The most important element about the economic miracle of Israel is challenging or questioning. The Israeli people challenge those who are above them. Employees question their Boss, soldiers Question their Generals, laymen question their elected man.

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When the Independence war was fought in 1948, the commission was made on this and guilty soldiers were punished. The same thing was observed after the war of Yom-Kapoor of 1973. At that time the Prime Minister was Golda Meir. She was asked against a commission; that is, to find the loss of 4000 deaths of soldiers. Though the Prime Minister was exonerated, the IDF chief, Israeli Intelligence chief, and other higher security officials were guilty so they resigned from their position. And all of them resigned. Glad Meir was called Iron Lady. Keeping in mind, Yom-Kapoor was won by Israel!

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Entrepreneurial culture

The mother of any Israeli child would be happier if her child would be an entrepreneur rather than a doctor or engineer. This Entrepreneurial culture boosted the Israeli economy. In Israel, any leader or Boss of any huge venture or any large corporation would have consented to a flourishing and healthy leader if he or she allowed the resistance from its employees.
According to Israelis when there would be no intra resistance or questioning the fall of any corporation or any venture will come.
The innovation culture in Israel is key to success for their economic miracle.

They innovated new and new things and devices and then commercialized them. Singapore and South Korea have large businesses in the world but they lack innovation. Similarly, Finland has Nokia, which means they innovate but lack for their commercialization. So Israel has both; the Innovation and the commercialization of the innovation or entrepreneur.

Education leads to victory

It is distinguished that the Israelis are book pals. They like books. That’s how the question arises in one’s mind. Israel’s reason behind its success is Education. During Pre state status the Hebrew University of Jerusalem was founded in 1910. Israel has eight universities and twenty-seven colleges. Four of them are in the top 150 worldwide universities and seven out of eight in the top 100 Asia Pacific Universities. All these have their research centers.

Go far, Stay Long, See Deep

If we look at Israel on the map, it is surrounded by its enemies, so they follow one rule that is: Go far, Stay Long, See Deep. By this logic, they went to South America, India, Southeast Asia, Europe, and China. We can see many companies in these regions. They go far, stay long in these regions, and do detailed research for their homeland.

When they went, they had a responsibility on their shoulders that they should have made a pitch for Israel. It means that the Israelis are devoted to their country. They could not leave the origin and make a way of business between Tao courtiers that is their homeland and the country in which they stayed.

Everybody knows everybody

The most important is that in Israel everybody knows everybody. Every teenager should have served in the Israeli(News) Army for three years. This process makes the teenagers helpful in two ways: first of all in their next career selection process. When these teenagers serve in the IDF they can make any decision. And then this service provides help in future innovation and entrepreneurial processes. They get scattered in every field of life but the base is the same, that’s why everybody knows everybody.

Israel allows immigrants from every part of the world. The Government of Israel had started the program called Yozma. According to this program, the Gov provided the immigrants an amount for the business. So the immigrants stood upon their feet. The Israelis are very committed to their business like they did not Call off their companies during the Gulf War and Lebanon war of 2006. Israel is the hub of multi-scientific technology innovations. They innovate from nose cones to geysers by merging many technologies and making one. Due to this immigration, Israel has about 70 nationalities and many languages. Israel promoted the culture of business, its policy is business and innovation.

Israel and UAE

Many compare Israel and UAE due to the resemblances as in their ventures. UAE is one of the largest business hubs in the world. But it has no comparison with Israel in many factors. UAE has no freedom of speech, there is no democratic process in the state, the entrepreneur has no interest with the state (they are not devoted with UAE as Israeli with their country), king or his close family members have right to serve in major posts in the state or government affairs and the most important is innovation. They have no innovation that they would commercialize.

The economy of the UAE or other Gulf states is largely dependent on oil but in Israel, this is not. In Israel, everyone is questioned against the law from PM to layman and from LDF chief to a soldier. But in the UAE, questioning from the Royal family is prohibited. That is the reason Israel has had too much success and instigated the economic miracles.

Author: Sardar Ghayoor

Ghayoor Rashad is a student of
BS International Relations from NUML. He is doing his 5th semester

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