Eeo-niiinics Student Explains
Need for Israel Investment
I
(Editor's note: The author,
Mordechai Kreinin, is an Is-
raeli and possesses a degree in
economics from an Israel col-
lege. He is currently enrolled
at the University of Michigan
where he is taking post-grad-
uate courses.)
men from expanding their
businesses and investing their
money. Investors usually make
their calculation and compute
their margin of profit to derive
the sum initially invested in a
All the private and govern-
mental loans and grants
are imperatively needed, but
they are not enough. There is
also a dire need for private
investment.
American
Most outstanding
-)usinessmen believe in the po-
• ential capacity embodied in
srael, and have placed their
•onfidence in it by investing
noney in various projects (e. g..
wiser - Frazer). According to ;
heir incomes, this confidence
ias already been 'justified.
There seem to be two main
conomic arguments very often
951 W. Seven Mile Rood
:srael enables a relatively even
listribution of income and a
iigher standard of living in
spite of the scarcity the
country fac es . It thus con-
tributes to the stability of
srael's democracy, and gives
vomplete confidence in the
future of private property
It.gainst waves of nationaliza-
on. Hence, the existence of
organized economy is a tempo-
ary necessity, which does not
Lnd should not curb inflow of
!Private investment.
;Looking at the problem from
;sh ort range point of view +the
nsition period, until mass im-
gration is stopped and the
emigrants absorbed, estimated
Americans at, from 15 to 20
ars), the inflow
inflow of capital in-
stment is imperative since the
'entry is dependent upon it.
ite "socialistic" I Israeli govern-
`ant today is doing its utmost
make Israel Ian investment
Ater. But. no matter what
rty is in power (be it even the
,creme socialist Mapam) , no
tnmitments toward nationali-
lion can or will be made
tcause every government
derstands the extent of its
pendency on foreign investors.
Prom the long-range view *the
nation after the transition
hod) not even the Prime Min-
er can say anything. Israel is
tree democratic country, and
one can ascertain the sent-
git of the majority 20 years
I nce. If we want to see democ-
y flourishing in our new state,
e re is no place to speak about
economic and social pattern
ich will prevail 20 years later.
erhe prospect of changes In
)irty denomination, therefore,
;t•id not prevent business-
t
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will mean a decline in prices,
igher specialization and stand-
td of living. but in a period of
mrcity—which is now the case
1 Israel, due to the mass immi-
tation—it will mean a rise in
Fices. an uneven distribution of
hcome.
organized economy in
i An
53
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laimed that a free competitive
!economy is an imperative pre-
lequisite for investment in Israel.
1.1c1 trade should be removed
Ind private investors will come.
It may be true that business-
len do not like government con-
f•ols. but what does free corn-
'etitive economy mean? In a
eriod of plenty and abundance
412 Maccabees Building
HAMBURGERS OUR SPECIALTY
'he need for a free competitive
conomy; and 2). The threat of
iocialism and nationalization.
Under the first point it is
ael. Price control, rationing,
kintrols on foreign exchange
INSURANCE
FOOD CRAFT SYSTEM
ieard by this writer against pri-
. ate investment in Israel : 1).
Inless such a pattern is estab-
,shed, no potential investor will
-e attracted by the state of Is-
-
ARTHUR F. DEVINE
Best Wishes on Passover
A lot has been said and writ-
ten about the need .of capital in-
:
THE JEWISH NEWS
Friday, April 11, 1952
Passover Greetings
Best Wishes on the Holiday
By MORDECHAI KREININ
flow to the state of Israel. The
mass immigration of Jews from
all parts of the world to the
new state creates urgent need
for sufficient amounts of capital
to absorb all these displaced
persons.
According to American experts,
the capital needed for the eco-
Inomic absorption of one man is
about $2,500. The dilemma is
7 Enuch more serious in Israel,
where problems of cultivation
-'and irrigation of desert lands
limits the potential capacity of
4.he country.
very shortperiod—mach
shorter than 20 years.
There are various angles from
which this problem can be
approached, but in conclusion it
should be said that the urgent
needs of Israel and the potential
capacity embodied in it,. calls for
private investors from this
country—and mainly from Jews.
Greetings on Passover
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