The Economy, Stupid
The economies of Gaza and Israel and the new Chair of the Productivity Commission
Nov 16, 2023
Danielle Wood, Economist and new Chair of the Productivity Commission, discusses the economic impact of the conflict between Gaza and Israel, the blockade's devastating effects on Gaza's economy, and the Commission's role in providing policy advice. The podcast also touches on the challenges of low productivity and the government's commitment to addressing issues and implementing recommendations for a better work environment.
29:01
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Quick takeaways
- Israel has enforced a structure of dependency on the Palestinian economy since 1967, integrating it into its own and using Palestinian workers as cheap labor.
- The blockade imposed on Gaza in 2007, along with multiple military aggressions and the recent war, have severely impacted Gaza's economy, leading to high unemployment rates, poverty, and a grim economic outlook.
Deep dives
Dependency on Israel's Economy
Since 1967, Israel has enforced a structure of dependency on the Palestinian economy. Israel aimed to integrate the Palestinian economy into its own and make the West Bank and Gaza Strip dependent on its economy. This relationship of dependency has only been entrenched over time, with trade diversion and the use of Palestinian workers as cheap labor for Israel. The blockade imposed on Gaza in 2007 further isolated the enclave and denied its economic potential. Import restrictions on vital items such as fertilizers, medical equipment, and telecommunications equipment further hindered economic activity.
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