The Political Economy of Israel: From Ideology to Stagnation

Hardcover (Print)
Used and New from Other Sellers
Used and New from Other Sellers
from $29.95
Usually ships in 1-2 business days
(Save 50%)
Other sellers (Hardcover)
  • All (3) from $29.95   
  • Used (3) from $29.95   
Sort by
Page 1 of 1
Showing All
Note: Marketplace items are not eligible for any coupons and promotions
Seller since 2005

Feedback rating:



New — never opened or used in original packaging.

Like New — packaging may have been opened. A "Like New" item is suitable to give as a gift.

Very Good — may have minor signs of wear on packaging but item works perfectly and has no damage.

Good — item is in good condition but packaging may have signs of shelf wear/aging or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Acceptable — item is in working order but may show signs of wear such as scratches or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Used — An item that has been opened and may show signs of wear. All specific defects should be noted in the Comments section associated with each item.

Refurbished — A used item that has been renewed or updated and verified to be in proper working condition. Not necessarily completed by the original manufacturer.

Like New
1994 Hardcover Fine Still Sealed in Plastic. Never used! As New Condition-Over 500, 000 Internet Orders Shipped.

Ships from: Simi Valley, CA

Usually ships in 1-2 business days

  • Canadian
  • International
  • Standard, 48 States
  • Standard (AK, HI)
  • Express, 48 States
  • Express (AK, HI)
Seller since 2008

Feedback rating:


Condition: Like New
Still Sealed in Plastic. Never used!

Ships from: Simi Valley, CA

Usually ships in 1-2 business days

  • Canadian
  • International
  • Standard, 48 States
  • Standard (AK, HI)
  • Express, 48 States
  • Express (AK, HI)
Seller since 2009

Feedback rating:


Condition: Good
Book shows a small amount of wear to cover and binding. Some pages show signs of use. Sail the Seas of Value

Ships from: Windsor Locks, CT

Usually ships in 1-2 business days

  • Canadian
  • International
  • Standard, 48 States
  • Standard (AK, HI)
  • Express, 48 States
  • Express (AK, HI)
Page 1 of 1
Showing All
Sort by


This book constitutes the first attempt at a comprehensive description, history, and analysis of Israel's economy. Plessner examines events of the past two decades and advances the hypothesis that problems within the Israeli economy can be explained by the extent of its departure from the institutions and rules that govern predominantly market economies. He argues that Israel is unusual in that it affords an opportunity to analyze a socialized ecomony embedded in a democratic society. The book describes Israel's economic growth and stagnation, the government's domination of capital and credit markets, and the absence of a truly independent private sector. In addition, it evaluates the stabilization program of the 1980s and its aftermath and provides a prognosis for the future.
Read More Show Less

Editorial Reviews

From the Publisher
“The book tells an interesting story about the workings of the Israeli economy. The author presents and interprets a rich array of historical material. At the same time, he shows a solid knowledge of economic theory as well as economic practice. Unlike other books about Israel, this volume captures the interplay between social, economic, and historical factors that permit one to have a broad understanding of Israel’s economy.” — Robert Lerman, The American University
Read More Show Less

Product Details

  • ISBN-13: 9780791417416
  • Publisher: State University of New York Press
  • Publication date: 12/28/1993
  • Series: SUNY series in Israeli Studies Series
  • Pages: 328
  • Product dimensions: 6.22 (w) x 9.18 (h) x 0.82 (d)

Meet the Author

Yakir Plessner is Senior Lecturer in Economics at The Hebrew University of Jerusalem and Fellow at The Jerusalem Center for Public Affairs. He was formerly Deputy Governor of the Bank of Israel and economic advisor to the Minister of Finance.

Read More Show Less

Table of Contents

Introduction 1
1 The Roar That Became a Whisper 7
The Bumpy Road of Political Economy 8
Early Growth in Israel 12
Growth Does Not Mean Efficiency 23
Other Factors 28
Appendix 32
2 Obstacles to Growth: The Abducted Capital Market 37
The Absence of a Free Capital Market 37
The Basic Features of the Financial System 38
The Background 39
The Interest Rate Law 42
The Process of Domination 42
3 The Capital Market: The Origins 61
First Steps 61
The Foundation Fund Keren Hayesod 63
Land Ownership 66
The Private Sector Flourishes 70
Rhetoric vs. Facts 75
Early Statehood 77
Appendix 78
4 Obstacles to Growth: The Economic Culture 79
The Economic Culture 79
The Wedge Between Effort and Reward 80
The Government as the Economy's Creator 89
The Relief from Responsibilities 90
5 The Economic Culture: The Origins 95
The Basic Ideology 95
The Origins of the Contrived Economy 97
Farm Primacy 100
The Housing Sector 102
The Advent of Rent Control 104
Unions and Wages 107
6 Obstacles to Growth: The Would-Be Business Sector 115
The Business Sector - A Tour 115
The Wedge 127
The Moral Hazard 133
A Market in Chains 141
7 The Would-Be Private Sector: The Origins 149
Early Farming Days 149
The Ideological Background 150
The Conquest of Labor 154
The First Failures of the Histadrut Economy 157
The Class Struggle - Unions and Wages 160
The Credit Crunch 161
The Adaptation of the Private Sector 166
Early Statehood 172
Appendix 174
8 Obstacles to Growth: The Almighty Weakling 177
A Summary of Government Activities 177
The Illusion of Strong Government 183
The Emasculation of Israel's Government 186
9 The Inflationary Prescription: Institutions and Policies 193
The Cost-of-Living Allowance 193
The Impossibility of Monetary Policy 199
The Oil Crisis and the New Economic Policy 206
The 1977 Mahapach - Economic Reform 219
Appendix 224
10 Inflation! The Obstacles Gang Up 227
Phase 1: The Early Stages 228
Phase 2: 1978 232
What Caused Israel's Inflation? 234
The Cost of Inflation 245
The First Attempts to Stem Inflation 253
The Manipulation of Bank Shares 256
A New Approach to Inflation - "Dollarization" 258
The Bank Shares Debacle 261
Old Habits Die Hard 264
Appendix 267
11 Stabilization and Missed Opportunities 269
Stabilization: The Program and Its Impact 269
The Road Ahead 278
Appendix 283
Notes 285
Index 319
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)