The Dispossession of the Peasantry (ص 48)

غرض

عنوان

The Dispossession of the Peasantry (ص 48)

المحتوى

32
remaining 11 percent for the government.” The substantial increase in the share
of the Jewish economy reflected the “extremely high investment to GNP [gross
national product] ratio: an average of 31.3 percent for 1922-47 . . . and 39.3
percent in 1922-39.” Most of this investment was generated externally and
“followed the combined pattern of immigration and capital imports.”°° According
to Metzer, 75 percent of total investment was private and the rest were transfers by
the World Zionist Organization, its affiliates, and other donations. “This influx of
capital, which was closely associated with that of immigration, enabled the Jewish
community to undertake massive investments before WWII without having to resort
to foreign borrowing or to domestic savings.”°’ It is my contention that the
growth of the Jewish economy, to the extent it did, was primarily determined by
this massive inflow of capital imports without which all the other demographic and
socioeconomic traits of the settlers would have come to naught.
Then there were the differences between the “organized financial markets”
in the Jewish economy and the “unorganized” ones in the Arab economy, where
the former consists of mainly commercial and credit banks and so on, and the
latter involves mainly money lenders, relatives, and cooperatives. These
differences meant that borrowers in the unorganized financial markets paid much
higher interest rates than that in the organized financial markets. The differences
Tbid., 105.
“Thid., 106.
Ibid.
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.

هو جزء من

The Dispossession of the Peasantry

تاريخ

٢٠٠٦

المنشئ

Riyad Mousa

مجموعات العناصر

Generated Pages Set

Theses رسائل ماجستير ودكتوراه