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Profiting From Peace

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Posted on May 2, 2010
Flickr / International Monetary Fund

Stanley Fischer speaks at an International Monetary Fund meeting in 2009.

Who would have thought that peace could be good for the economy? Ask Stanley Fischer, Israel’s central bank chief, who delivered that startling pronouncement in a speech this weekend, arguing that a peace deal between his country and the Palestinians would actually help Israel achieve “one of the most advanced economies in the world.” —JCL

Reuters:

Bank of Israel Governor Stanley Fischer said on Sunday Israel could become a leading economy globally if a Middle East peace deal is reached but that the key challenges for now were to accelerate growth and cut poverty.

The Zambian-born, U.S. and British educated Fischer, in a speech after he was sworn in for a second five-year term as central bank chief, said economic success hinged on maintaining a strong military.

“This economy, with its dynamism and creativity, could grow much faster if we were to achieve peace with our neighbors,” said Fischer, 66, who is credited with helping to keep Israel’s economy and financial markets afloat during the global downturn.

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By diman, May 3, 2010 at 8:09 am Link to this comment

What a poor attemt to clear the conscience, after knowing that you have been a significant part of the murderous and opressive regime.

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Leefeller's avatar

By Leefeller, May 3, 2010 at 12:22 am Link to this comment

Peace would work, except Israelis neighbors would become
jealous if they are not already. This would create a
different problem for Palestine if they agreed to
peace.

Maybe this peace idea would work for the USA? Then the
USA could fix its socialist pot holes, (things for
society but not capitalist in nature, like roads,
transportation, schools, etc.) even a socialist
universal medical care or socialist anything that needs
fixing, how about spending money on education, instead
of our socialist military and its war subsidized
complex?

Actually Peace would be a bad idea, what is one to do
with all those weapons in a world of peace?

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By rollzone, May 2, 2010 at 3:33 pm Link to this comment

hello. well, i just read it like here is a positive example of what you can make of yourself. i pity the poor guy, putting a bulls-eye on his chest, proclaiming, “Give Peace a Chance”. Imagine. (RIP John)

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By gerard, May 2, 2010 at 1:57 pm Link to this comment

Postscript:  Note the subtle discriminatory implications of this identificatioin of Mr. Fischer:
“The Zambian-born, U.S. and British educated Fischer,—As if:  We hasten to explain that Mr. Fischer, although he was born in Zambia, is reliably credentialed by the fact that he was educated in US and Britain, thereby freed of all “indigenous” taints of second-class upbringing due to having been born in a Third World country, etc. etc. 

Or am I wrong?  We “white vunderkind” do this kind of thing all the time and don’t even notice it.

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By gerard, May 2, 2010 at 10:50 am Link to this comment

Oh, that even one of our famour economists would dare to say such a thing in the U.S.!

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