| Israel's Meteoric Rise in the Economic Ranks Per capita, Israel is far leading the world in innovation, startups, and new technologies. It is way ahead of the Europeans. And unlike other politicians claiming credit for their economies, Netanyahu actually deserves the credit for Israel's success after some three decades of dauntless efforts to emancipate Israel's economy from socialism. As I said in my speech earlier in the evening, "In the mid-1980s, Israel was the Venezuela of the Middle East. It had come to the end of the line, with 400% inflation on track to 1,000%. "It had the government owning four large banks and 200 major corporations. The private sector was largely under the control of Histadrut, a big socialist labor union." In this Venezuela of the Mid East, tax rates were as high as 56%, nearly leading the world. As I wrote in The Israel Test, Jewish socialists had created a country nearly as inhospitable to Jewish geniuses and entrepreneurs as the European anti-Semite regimes they had fled. After a unity government was elected in 1985, Netanyahu returned from the United States where he had been ambassador. As prime minister in the mid-1990s and as Finance Minister between 2003 and 2005 under Ariel Sharon, Netanyahu acted boldly and tenaciously. He used his supply side ideas from the Boston Consulting Group and his friend Jack Kemp to remove the "heavy man of government from the shoulders of Israel's then diminutive private sector." The results are history. In the late 1980s and early 1990s, Israel absorbed a million Soviet refugees and launched a technological miracle. With Netanyahu's reforms between 1991 and 2000, Israel's venture capital outlays rose some 60-fold; VC companies launched soared from 100 to 800; and Israel ranked first in the world in the share of growth attributable to high-tech ventures. All the left has to offer, said Jonathan, is to return the country to its previous socialist solidarity of equally distributed poverty. Many Israelis on the left, like many Americans, would like that. But as Medved said, "I don't care about Gini coefficients [measures of inequality]. I'm a proud capitalist." And so is Bibi Netanyahu. But he will win the election not so much for the economy as for keeping the Israeli's safe for almost 30 years as one of the world's leading experts on how to suppress terrorism. Bibi wrote the book – three books, actually – and heavily influenced American as well as Israeli politicians on how to suppress suicide bombers and the intifada. John Bolton was one of his more devout students and Bolton may deserve much credit if the Iranian mullahs fall as Jonathan Medved predicts. But my view is that for all his successes in the United Nations and elsewhere, Bolton was too much a universal hawk. Especially with the US at last withdrawing support from the UNRWA (the United Nations Relief and Works Agency for Palestinian Refugees). "The Courage to Continue" The U.S. has to choose its battles carefully. Trump has chosen to take on China – in my view the wrong battle to choose. Bolton wants to take on everybody. This is a failure of his "Israel Test" as much as Obama's refusal to take on anyone except Libya. For Netanyahu's success, he is hated by much of the world. But he is revered by people who know him as the Churchill of the modern era. As Churchill himself once said, "Success is not final; failure is not fatal; it is the courage to continue that counts." Regards, 
George Gilder
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