In this episode of the FREE (Forum for Real Economic Emancipation) podcast, hosts Claire and Professor Ibrahim Shikaki, an associate professor of economics at Trinity College and an expert on the political economy of Palestine, delve into the economic dimensions of the crisis in the region. They discuss Professor Shikaki's paper, "Weaponizing Economics Against Palestine," and explore how economics as a discipline can mystify the true nature of events. The conversation uses dependency theory as a framework to explain how the Global North's wealth is built on the systemic extraction of resources from the Global South.
Key topics include:
Historical Context: The discussion traces the origins of economic dependency back to the British Mandate, where policies encouraged Jewish emigration and shifted the weight of industrial production through concessions to Zionist organizations, changes in tax collection, and manipulation of tariffs.
Post-1967 Occupation: The hosts and guest examine how the Israeli occupation after 1967 implemented military orders to restrict Palestinian industry, confiscate land, and create a dependent economy. This led to a significant portion of the Palestinian labor force working in the Israeli construction sector. The hosts discuss how Israel benefits from this arrangement by exploiting cheap labor and using the Palestinian territories as a supplementary market and a resource for factors of production.
Resource Control and Austerity: The episode highlights the commodification of resources like land and water. Israel's state-owned company, Mekorot, controls the water supply, with 80% of Palestinian water having to be purchased from them. The discussion also covers the Paris Protocol of 1994, which formalized economic dependency and gave Israel the power to use clearance revenues as a tool for economic blackmail against the Palestinian Authority (PA). This fiscal dependency has left the PA unable to pay its public employees their full salaries and has contributed to high unemployment rates.
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