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The Economy of Modern Israel
Malaise and Promise
Assaf Razin and Efraim Sadka
University of Chicago Press, 1993
In this up-to-date study of the Israeli economy, Assaf Razin and Efraim Sadka cover the entire economic history of the state, focusing on links between Israel's economic growth, its integration into world markets, its tax and welfare systems, and the political conflicts in the Middle East.

The authors present the first detailed economic analysis of the Palestinian uprising, showing how the unrest has led to a fall in Arab employment in Israel and serious economic loss to the occupied territories with some loss to Israel. They also examine how the uprising has affected Israel's financial standing internationally and the inflow of foreign aid.

Razin and Sadka see promise for Israel's economy in the waves of immigration from the former Soviet Union, despite the current difficulties in absorbing the immigrants; in the coexistence of a flourishing and highly competitive private sector with a relatively large public sector, which is undergoing privatization; and in a tax structure that encourages long-term saving and business growth. By examining the interplay between the exchange rate, interest rates, and monetary and anti-inflation policies, the authors investigate the possibilities for renewed growth and conclude that the future of Israel's economy crucially depends on serious efforts to secure peace in the Middle East.
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Phony Culture
Confidence and Malaise in Contemporary America
James Combs
University of Wisconsin Press, 1994

As the United States nears the twenty-first century, many of its citizens are troubled by the sense that something is wrong. Even though it is argued that our national situation is good, there persists the widespread feeling that somehow we are on the wrong social and historical track. It is the contention of this book that much of this dis-ease stems from our construction of a phony culture, a culture dominated by the value of the confidence man and woman.

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