College Economics Current Events

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College Economics Current Events

New York Times; Israel and evangelical; New US Embassy signals a growing alliance.

(May 19, 2018- New York Edition)

Israeli Prime Minister, Benjamin Netanyahu convened Americans evangelicals a night after the

dedication of the new United States Embassy in Jerusalem to plan the next steps. He thanked the

small circle of prominent pastors and activist for pressing President Donald Trump to open the

embassy. Israel has depended mostly on the support from the Jewish Diasporas, but the

Netanyahu government has made a historic and strategic shift by relying on the much broader

base of evangelical Christians even at the risk of turning off American Jews who may be

troubled by some evangelicals denigration of their faith ("Israel and Evangelicals: New U.S.

Embassy Signals a Growing Alliance). Most Liberal Israelis have warned that the increasingly

close ties between the Israeli right and the Christian right are accelerating a polarization that is

turning support for Israel into a partisan question. Liberal Jews are also complaining of a double

standard, noting that Mr Netanyahu’s right-wing government is far more vigilant about

allegations of bigotry on the political left than among its conservative backers.“There is a heck of

a lot more evangelical voters than there are Jews,” noted Rabbi David Sandmel, director of

interreligious Engagement for anti-defamation league. David M. Friedman, the American

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ambassador to Israel who presided over the embassy dedication, said that evangelical Christians

“support Israel with much greater favour and devotion than many in the Jewish community.” He

added that to run a country you need friends, alliances and to protect the citizens.

Economic concept; Opportunity cost

This article connects to an economic concept of ‘opportunity cost’ which we learned in class.

Opportunity cost refers to the value of an economic decision or choice of best alternative cost

while making a decision. The notion of opportunity cost plays a crucial part in attempts to ensure

that scarce resources are used efficiently. This article is relevant to the concept since Israel has

always benefitted from pro –Israeli religious community with a strong grassroots political

organization and strong fundraising ability. The evangelical groups have shown prowess which

is visible as they organize annual Washington summit where attendees raise their concern and

commitment about their relationship to Israel. Hence the Israel government can only find the

American evangelicals as the best alternative in fostering the Israel –Americans relations and

maintain the support they have always received from the evangelicals.

Washington post; Tensions rise as Gaza militants fire more than 70 mortars, rockets into

Israel. (May 29, 2018)

The Israeli military stated that Palestine militants in the Gaza Strip fired more missiles and

mortar shells into Israel on Tuesday, May 29, as tensions escalated amid weeks of protest and

retaliatory border attacks. Israel reported that the incoming fire injured seven people, three of

them being soldiers. One of the mortars struck the yard of a kindergarten, drawing angry

responses from Israeli leaders, although no casualties were reported. Within hours Israel’s

military responded with airstrikes on sites across Gaza. Israel said they targeted military training

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bases belonging to Hamas, the militant Islamic group that rules the Gaza strip and Palestinian

Islamic Jihad responsible for the Tuesday attack. The Israel Prime Minister Benjamin Netanyahu

stated that the army will respond with great force to those attacks.

The Hamas and the Islamic Jihad later issued a joint statement taking full responsibility

for the rocket attacks and suggesting they had no intention of calming down the situation. The

residents of southern Israeli communities, who were ushered in and out of bomb shelters also

told local media that the latest round of fire was the biggest they had seen since the 2014 summer

war between Israel and Hamas in Gaza. Tensions have been soaring between Israel and Gaza for

the past few months, and residents of the coastal enclave have been holding weekly

demonstrations at the Israeli border fence. They are demanding a right to return to the land that

now sits inside Israel and expressing frustration over a growing humanitarian crisis in what they

term as an open-air prison.

Economic concept; Scarcity

I find the economic concept of scarcity we learnt in class relevant to this article. Scarcity refers

to on how to satisfy unlimited wants with limited resources. Scarcity is the central economic

problem facing everyone including individuals, firms and the government. This article is related

to the concept of constant war and tension has experienced in Gaza between the Israeli and

Palestine has adversely affected the financial capabilities of the area. Frequent violence and

deaths have scared investors away leading to financial loophole and scarcity in the area. It has

also caused an influx of refugees in neighbouring countries which results in the scramble for

limited resources and suffering to many people.

The wall street journal; Iranian forces fire rockets Israeli targets in Golan (May 9, 2018)

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Iranian forces in Syria fired about 20 rockets at Israeli soldiers along the border in the Golan

Heights the Israeli military said and what appeared to be the first instance of a direct attack by

Iran against Israel from Syria. The attacked occurred on late Wednesday night caused no injuries

and the only damage to properties as the army reported. The attacks were reported after

suspected Israeli missiles targeted an Iran linked army base south of Syria’s capital, Damascus,

shortly after President Donald Trump said the US would withdraw from the international nuclear

deal with Iran. Israeli spokesman Jonathan Cornelius said in a phone briefing to the journalist

that Israel had carried retaliatory strikes in Syria. Syrian air defences had confronted Israeli

missiles and reported Israeli shelling in the Syrian city of Baath, located near Israel’s northern

border, according to the Syrian state news agency.

Economic concept; Productivity

The concept of productivity in economics connects to this article in various ways. Productivity

refers to the ability to produce a vast amount of economic goods in an efficient manner. The

article is relevant to the concept that Israeli government produces sufficient amount of missiles to

counter the Iranian soldiers. With this reliable economic productivity of arms, the government is

able to perform counter retaliatory attacks among the warring nations. Our decision to withdraw

from nuclear deal with Iran is economically viable in the long run.

Washington Post; UN envoy: Gaza escalation a warning that ‘brink of war’ near

(May 30, 2018)

The United Nations envoy in the Mideast reported to an emergency Security Council meeting

about the latest escalation of war between the Palestinian protesters and Israeli soldiers in Gaza,

They warned of “how close to the brink of war we are every day”. The Casablanca

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demonstrations were called by a coalition of four parties including the Islamic opposition group

“AL Adl Wal Ihsane”, or justice and charity, which is considered Morocco’s most powerful

opposition group regarding rallying supporters on the streets. Mr Trump formally recognized

Jerusalem as the capital of Israel in December even though most of the international community

is against the move.

Economic concept; the Bottom Line

I find the economic t of The Bottom Line we learnt in class relevant to this article. It relates to

the final aggregate of balance sheet or account. It is the central economic challenge facing

everyone including individuals. The theory of bottom line in economics connects to this article

on Moroccan protest as learned in economic class. It relates to the ability of companies and

business people to make profits and balance their books at the end of the financial period. The

Protesters decided to stand with the opposition group by constantly engaging in activities that

may not foster business or economic development.

The Washington Post; After 24-hour flare up, uneasy calm returns to Gaza and southern

Israel (May 30, 2018)

An unofficial cease-fire took hold on Wednesday in Gaza strip and southern Israel after the worst

outbreak of war between Israel and Hamas, the militant Islamic group that rules the beleaguered

Palestine enclave. During a 24 hour flare up, militant functions in Gaza, including Hamas, fired

more than 100 rockets and mortar shells into Israel. Israel jets pounded more than 50 military

targets belonging to Hamas and Islamic Jihad in response. Israeli officials believed that Hamas

under pressure from outside players decided to restraint and reign in some of the more extreme

factions that operate in the Gaza strip. Israel unilaterally withdrew from Gaza in 2005 but after

Hamas took control of the strip more than a decade ago, Israel imposed a land and sea blockade

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on the enclave. A growing Humanitarian crisis in Gaza has pushed its residents to start

protesting. In late March, thousands began weekly protests demanding both a right to return to a

land that is now inside Israel and a solution to the crisis facing more than 2 million residents.

Economic concept; Supply and Demand

Supply and Demand in economics refer to the number of goods or service available and the

buyers’ desire for the same, considered as a way of controlling its price. It is relevant to the

Israeli War in Gaza and the concept is derived from basic economic concepts learned in class.

The Israeli and Palestine governments Supply and have the demand for advanced arms in their

economic wars and both sides seemed to have accomplished some short-term goals. But the

underlying issues that helped fuel the fighting remains in place. Hamas weakened by a decade-

long blockade of Gaza, remains defiant and in distress. Palestine militants still have an arsenal of

rockets and could potentially inflict damage or casualties in Israel. Gaza's economy has been

battered by an Israeli- Egyptian blockade, imposed to prevent the group from arming. Three wars

with Israel brought widespread economic destruction and the Islamic militant group has no close

international allies to bail it out and Mahmoud Abbas the Palestinian President frustration and

inability to regain control of Gaza has made him step up economic pressure on Hamas by cutting

the less supplied but yet highly demanded electricity supply and salaries to tens of thousands of

former civil servants in Gaza.

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Works Cited

"ISRAEL AND EVANGELICALS: NEW U.S. EMBASSY SIGNALS A GROWING

ALLIANCE." THE NEW YORK TIMES - BREAKING NEWS, WORLD NEWS &

MULTIMEDIA, 20 MAY 2018,

www.nytimes.com/2018/05/19/world/middleeast/netanyahu-evangelicals-embassy.html.

"TENSIONS RISE AS GAZA MILITANTS FIRE MORE THAN 70 MORTARS, ROCKETS

INTO ISRAEL." WASHINGTON POST,

www.washingtonpost.com/world/middle_east/tensions-rise-as-gaza-militants-fire-more-

than-30-mortars-into-israel/2018/05/29/72672ff6-6335-11e8-99d2-

0d678ec08c2f_story.html?utm_term=.f1917859891a.

LIEBER, DOV. "IRANIAN FORCES FIRE ROCKETS AT ISRAELI TARGETS IN

GOLAN." MARKETWATCH, 9 May 2018, www.marketwatch.com/story/iranian-forces-

fire-rockets-at-israeli-targets-in-golan-2018-05-09-22103517.

"AFTER 24-HOUR FLARE-UP, UNEASY CALM RETURNS TO GAZA AND SOUTHERN

ISRAEL." WASHINGTON POST, www.washingtonpost.com/world/middle_east/israel-

and-palestinian-trade-fire-on-gaza-border-amid-cease-fire-talk/2018/05/30/6be5a5de-

637d-11e8-81ca-bb14593acaa6_story.html?utm_term=.837f9e486750.

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