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Kibbutz Crisis
The Kibbutz crisis () was an acute economic crisis experienced by many kibbutzim in Israel during the 1980s, with some still facing challenges today. The crisis began in the early 1980s and worsened after the Israeli economic stabilization program of 1985, during which the inflation rate dropped dramatically. It was characterized by the accumulation of large debts and low returns for the kibbutzim. In addition to the economic hardships, many kibbutzim also faced social and demographic crises. In 1989 and 1996, the Israeli government, Israeli banks, and kibbutz movements agreed on two debt arrangements to help resolve the economic crisis. The demographic and social crises were significant catalysts for the changes that many kibbutzim have undergone since the 1990s. While many kibbutzim experienced an economic crisis, a smaller group of kibbutzim managed to avoid it. These kibbutzim largely remained loyal to the traditional values and way of life of the kibbutz. Many of them playe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (for example, the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus and financial crises continue to occur from time to time. It is apparent however that a consistent feature of both economic (and other applied finance disciplines) is the obviou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Guarantee
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt. Private loan guarantees There are two main types: # Guarantor mortgages # Unsecured guarantor loan Guarantor mortgages Popular with young borrowers who do not have a large deposit saved and need to borrow up to 100% of the property value to purchase a property. Generally, their parents will provide a guarantee to the lender to cover any shortfall in the event of default. There are three main types # Guarantor Mortgage: – generally, a parent or close family member will guarantee the mortgage debt and will cover the repayment obligations should the borrower default. # Family offset mortgage: typically, a parent or grandparent will put their savings into an account linked to the borrower’s mortgage. They do not get any intere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Israel
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Haaretz Newspaper
''Haaretz'' (; originally ''Ḥadshot Haaretz'' – , , ) is an Israeli newspaper. It was founded in 1918, making it the longest running newspaper currently in print in Israel. The paper is published in Hebrew and English in the Berliner format, and is also available online. In North America, it is published as a weekly newspaper, combining articles from the Friday edition with a roundup from the rest of the week. ''Haaretz'' is Israel's newspaper of record. It is known for its left-wing and liberal stances on domestic and foreign issues. ''Haaretz'' has the third-largest circulation in Israel. It is widely read by international observers, especially in its English edition, and discussed in the international press. According to the Center for Research Libraries, among Israel's daily newspapers, "''Haaretz'' is considered the most influential and respected for both its news coverage and its commentary." History and ownership ''Haaretz'' was first published in 1918 as a ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miracle Of Chile
The "Miracle of Chile" was a term used by economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the effects of the economic policies applied by a large group of Chilean economists who collectively came to be known as the Chicago Boys, having studied at the University of Chicago where Friedman taught. He said the "Chilean economy did very well, but more importantly, in the end the central government, the military junta, was replaced by a democratic society. So the really important thing about the Chilean business is that free markets did work their way in bringing about a free society." The junta to which Friedman refers was a military government that came to power in a 1973 coup d'état, which came to an end in 1990 after a democratic 1988 plebiscite removed Augusto Pinochet from the presidency. Overview The economic reforms implemented by the Chicago Boys had three main objectives: economic liberalization, privatization of state-o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Decree 21060
Supreme Decree 21060 (, ''DS 21060'', or ''DS Nº 21060''), promulgated by Bolivian President Víctor Paz Estenssoro on 29 August 1985, was a legal instrument that imposed neoliberal economic policies in order to end Bolivia's twin crises of international debt and hyperinflation. In 1985, under the fourth (and final) term of President Paz Estenssoro, the economic situation in Bolivia was undermined with a galloping hyperinflation (inherited from Hernán Siles Zuazo) and the country was unable to pay its debt to the International Monetary Fund (IMF). A plan was drawn by Jeffrey Sachs, Professor at Harvard University, and at that time active as economic adviser to the Bolivian government. Bolivia was the first country where Jeffrey Sachs could test his theories. The IMF approved of the decree's adoption and gave the Bolivian government $57 million in credit. Additionally, the World Bank began lending money to the country again. Measures implemented The main "shock therapy" meas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balcerowicz Plan
The Balcerowicz Plan (), also termed " Shock Therapy", was a method for rapidly transitioning from an economy based on state ownership and central planning, to a capitalist market economy. Named after the Polish minister and economist Leszek Balcerowicz, the free-market economic reforms were adopted in Poland in 1989. A group of experts, which they formed together with Balcerowicz, including Stanisław Gomułka, and , in September 1989 created a reform plan based on an earlier idea of Jeffrey Sachs, and on 6 October, an outline of this plan was presented to the public by Balcerowicz at a press conference broadcast by TVP. There was a 3 year drop in output. Similar reforms were made in a number of countries. The plan has resulted in reduced inflation and budget deficit, while simultaneously increasing unemployment and worsening the financial situation of the poorest members of society. Background The unofficial talks () at Magdalenka and then the Polish Round Table talks o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Consensus
The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for Economic crisis, crisis-wracked developing country, developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.Williamson, John"What Washington Means by Policy Reform", in: Williamson, John (ed.): ''Latin American Readjustment: How Much has Happened'', Washington: Peterson Institute for International Economics 1989. The term was first used in 1989 by English economist John Williamson (economist), John Williamson. The prescriptions encompassed Free market, free-market promoting policies such as trade economic liberalization, liberalization, privatization and finance liberalization. They also entailed fiscal and monetary policies intended to minimize fiscal deficits and minimize inflation. Subsequent to Williamson's use of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shock Therapy (economics)
In economics, shock therapy is a group of policies intended to be implemented simultaneously in order to liberalize an economy, including liberalization of all prices, privatization, trade liberalization, and stabilization via tight monetary policies and fiscal policies. In the case of Post-communism, post-communist states, it was implemented in order to transition from a planned economy to a market economy. More recently, it has been implemented in Argentina by the administration of Javier Milei. Overview Shock therapy is a program intended to economically liberalize a mixed economy or transition a planned economy or developmentalist economy to a free-market economy through sudden and dramatic neoliberal reform. Shock therapy policies generally include ending price controls, stopping government subsidies, privatizing state-owned industries, and tighter fiscal policies, such as higher tax rates and lowered government spending. In essence, shock therapy policies can be distilled t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jewish Agency
The Jewish Agency for Israel (), formerly known as the Jewish Agency for Palestine, is the largest Jewish non-profit organization in the world. It was established in 1929 as the operative branch of the World Zionist Organization (WZO). As an organization, it encourages immigration of Jews in diaspora to the Land of Israel, and oversees their integration with the State of Israel. Since 1948, the Jewish Agency claims to have brought 3 million immigrants to Israel, where it offers them transitional housing in "absorption centers" throughout the country. David Ben-Gurion served as its chairman of the executive committee from 1935, and in this capacity on 14 May 1948, he proclaimed Israel's independence, following which he served as the first Israeli prime minister. In the years preceding the founding of Israel, the Jewish Agency oversaw the establishment of about 1,000 towns and villages in the British Mandate of Palestine. The organization serves as the main link between Isra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concern (business)
A concern ( ) is a type of business group common in Europe, particularly in Germany. It results from the merger of several legally independent companies into a single economic entity under unified management. A concern consists of a controlling enterprise and one or more controlled enterprises.Stock Corporation Act 1965 (Germany), section 17 The relationship between the controlling and controlled enterprises is based on the actual commercial and management relationships, unlike parent and subsidiary companies which are related by share ownership and voting rights.Stock Corporation Act 1965 (Germany), section 16 Outside of professionals, the term ''Group'', also mistakenly ''within the meaning of large companies'' – regardless of its corporate structure – is understood. The Group concept has antitrust relevance: the so-called Group privilege, the privilege of the consolidated Group companies involved, means that in itself, prohibition included practices that do not violate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
