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Social and Economic Inequality in Israel - by Stephen Lendman
Notably since the early 1980s, neoliberalism began replacing New Deal/Great Society values to the detriment of millions harmed. It means markets know best so let them, liberating enterprise to move capital, goods and services freely, benefitting the few at the expense of the many.
Britain's Thatcher and America's Reagan were pivotal figures, endorsing elitism, class power, and private enterprise unconstrained by rules, regulations or taxes, producing inequality and social injustice.
It plagues Israel like the West, notably since the mid-1980s when power shifted from various government agencies to the Finance Ministry and central bank (the Bank of Israel), similar to American financialization that empowered Wall Street, the Fed, and US FIRE sector overall (finance, insurance, and real estate).
A race to the bottom followed, especially since the 1990s by mass privatizations, welfare and social benefit cuts, and, like America, shifting wealth to the rich. Predictable results produced social injustice and inequality, harming Jews as well as Arab citizens.
Various studies show it, including annual Latet ones, its latest saying 1.77 million Israelis are poor. About 850,000 children live in poverty. As a result, 75% of those affected miss meals, a 21% increase from 2009. Moreover, 83% of poor children lack proper dental care, most getting none. Some beg for money. Others steal to eat.
On May 31, Israel's Taub Center for Social Policy Studies explained "a marked increase in the share of poor families headed by an employed person," defining poverty as:
Households with "income of less than half the national median household income, adjusted for family size."
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