26 May ’04
A long-time ICSEP supporter, the American real estate mogul was the guest at a recent luncheon, where he decried Israel’s economically invasive government.
Sam Zell, the American real estate mogul (assets under control: $350b) was ICSEP’s guest at a recent luncheon meeting. Zell, who has been a long-time supporter of ICSEP, was presented with ICSEP’s work by those who direct its various activities, namely policy work, economic education (through high school and university seminars) and the dissemination of classical liberal ideas (through its new Kivunim web site).
Zell said that the fact that the Israeli government accounts for some 55% of gross domestic product makes the local market less attractive. “The more the government spends the less for the private sector,” he said. “In the US, business comes first and government follows,” Zell said. “Here the government comes first and the business community comes afterwards. Israel has great human resources but besides the venture capital industry there is nobody that will fund traditional industries.”