Monday, September 24, 2007

Keeping High Tech in Israel

The New York Sun ran an excellent article about the problem facing the Israel hi-tech industry. Basically, it has one major problem - the Israeli government.

Many of Israels best and brightest prefer to study abroad and/or work abroad in the high tech sector because the Israeli education system is in decline, the high costs for higher education and the bureaucratic controls on the high tech industry - all dependent upon the decision making of the Israeli government.

As the NY Sun article summarizes so succinctly:

"To help high-tech thrive, Israel must continue with radical reforms like the immensely successful financial market reforms that reduced costs and enhanced competitiveness and that were implemented by the former minister of finance, Benjamin Netanyahu. Markets can create prosperity in Israel, as they have done elsewhere, provided that the government will be cut from involvement in high-tech as well as elsewhere in the economy."

I hope some influential Israeli politicians read the New York Sun.

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