The Global Political Economy of Israel: From War Profits to Peace Dividends

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Pluto Press, Aug 20, 2002 - History - 407 pages
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Over the past century, Israel has been transformed from an agricultural colony, to a welfare-warfare state, to a globally integrated "market economy" characterised by great income disparities. What lies behind this transformation? In order to understand capitalist development, argue Bichler and Nitzan, we need to break the artificial separation between "economics" and "politics", and think of accumulation itself as "capitalisation of power". Applying this concept to Israel, they reveal the big picture that never makes it to the news. Diverse processes – such as regional conflicts and energy crises, ruling class formation and dominant ideology, militarism and dependency, inflation and recession, the politics of high-technology and the transnationalisation of ownership – are all woven into a single story. The result is a fascinating account of one of the world’s most volatile regions.
 

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Contents

Toward a Global Political Economy of Israel
8
Regimes of Differential Accumulation
14
Accumulation Through Crisis
20
The WeapondollarPetrodollar Coalition
24
From Foreign Investment to Global Accumulation
27
Breaking the Dualism of Economics and Politics
31
Accumulation of What?
36
Regimes of Differential Accumulation
47
Armament and Finance
177
Wage Income and Capital Gains
182
The End of Inflation
192
The WeapondollarPetrodollar Coalition
198
The U S ArmaCore
208
Middle East Oil and the PetroCore
219
The WeapondollarPetrodollar Coalition and Middle East
228
Energy Conflicts
237

Mergers and Acquisitions
53
Amalgamation and Globalisation
60
Stagflation
66
An Historical Outline
72
Data Appendix
82
The History of Israels Power Structure
84
The PreIndependence Sectors
91
The SocioIdeological Basis
105
The Dual Political Economy
117
From Dominant Party to Dominant Capital
133
The Making of Stagflation
137
Money
139
Wages
153
The Emperors New Clothes
160
Inflation and Accumulation
170
ArabIsraeli War
239
Iranian Revolution and the 198088 IranIraq War
250
The 199091 Gulf War
259
The Demise of the WeapondollarPetrodollar Coalition
266
From Foreign Investors to Transnational Ownership
274
From Foreign Investors to Transnational Ownership
291
Toward Transnationalism
294
The Principal Groups
300
High Technology and Domestic Power
309
Transnationalism and Israeli Technology
336
Global Accumulation Domestic Depletion
348
References
358
Index
372
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About the author (2002)

Jonathan Nitzan teaches political economy at York University in Toronto.

Shimshon Bichler teaches political economy at colleges and universities in Israel.

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