ISRAEL: A Push Toward Capitalism

Begin seeks to join "the family of well-run nations"

First Israeli: "It's simple. We let the Israeli pound fall in value, allow free exchange of dollars, Israeli exports become dirt cheap, and in the long run the economy is strengthened."

Second Israeli: "And in the short run?"

First Israeli: "We starve."

Like those two characters in a Jerusalem Post cartoon, most Israelis last week seemed to be exploring a new economic landscape with little joy, a dash of mordant wit and a surprising lack of panic. It hardly seemed possible, but after nearly 30 years of semisocialism—and all the government controls and subsidies...

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