The economy of Israel as it exists today really got started in the mid 1980s. The country was struggling with an annual inflation rate of over 350%. Most people resorted to using foreign currencies like US dollars, which came with its own problems. So how did Israel come back from complete economic failure? What is leading their economic development to make them one of the richest countries in the world now? Is it possible to replicate the success in other countries facing similar challenges today? And finally, could this story of economic success be starting to come to an end? Once we have done all of that, we can put Israel on the Economics Explained National Leaderboard.