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People vs. Dinosaurs

[New York Times ] Thomas L. Friedman - From outside, Israel looks as if it's in turmoil, but Israel has a strong civil society. The economy is exploding from the bottom up. Israel's currency, the shekel, has appreciated nearly 30% against the dollar since the start of 2007. The reason? Israel is hard-wired to compete in a flat world. It has a business culture that strongly encourages individual imagination and adaptation, where being a nonconformist is the norm. While you were sleeping, Israel has gone from oranges to software. In the first quarter of 2008, the top four economies after America in attracting venture capital for start-ups were: Europe $1.53 billion, China $719 million, Israel $572 million and India $99 million, according to Dow Jones VentureSource. Israel, with 7 million people, attracted almost as much as China, with 1.3 billion. Because oil prices have gone up to nearly $140 a barrel, Ahmadinejad feels relaxed predicting that Israel will disappear. But Iran's economic and military clout today is largely dependent on extracting oil from the ground. Israel's economic and military power today is entirely dependent on extracting intelligence from its people. Israel's economic power is endlessly renewable. Iran's is a dwindling resource based on fossil fuels made from dead dinosaurs. So who will be here in 20 years? I'll bet on the people who bet on their people - not the people who bet on dead dinosaurs.
2008-06-10 01:00:00
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