Peretz declares support for free market

"I support the free market and competition, and I look upon the activity of the capital markets as valuable."

By YIGAL GRAYEFF
December 1, 2005 01:28
3 minute read.
amir peretz 298.88

amir peretz 298.88. (photo credit: Ariel Jerozolimski)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Amir Peretz, the leader of the Labor Party and the Histadrut labor federation, portrayed himself as a capitalist on Wednesday but said he would still fight to protect the rights of the ordinary citizen. "I support the free market and competition, and I look upon the activity of the capital markets as valuable activity that creates demand and attracts foreign investors," he said at an insurance and capital markets conference in Tel Aviv. He told the delegates that they had a part to play in fighting for the causes he believes in, such as reducing poverty and guarding the rights of the ordinary citizen. "I see in this building partners for everything, because poverty is not only a lack of bread, but rather it is a wider issue: there is poverty in progress, in education and in culture. Therefore, I look upon members of the capital markets, pensions and finance as full partners in the success of Israeli society and its prosperity," he said. Some investors have been skeptical about Peretz's business-friendly credentials due to the numerous strikes he has called as the head of the Histadrut and his call for an increase in the minimum wage to $1,000 a month. When he was elected the head of the Labor Party, the dollar dropped sharply, causing Excellence Nessuah chief economist Shlomo Maoz to warn that if Peretz were to carry out his economic policies there could be a flight of capital from Israel and further weakness in the shekel. "There is essentially concern that the Labor Party is getting stronger. The market is opposed to the return of Bolshevik [economic] practices," he said at the time. However, he has also received support from investors and economic experts, and Ben-Gurion University president and former World Bank economist Avishay Braverman joined his party. Commstock Financial Consultants chief executive David Zwebner said he accepts Peretz's market-friendly portrayal of himself as truthful. "When Amir Peretz claims that he supports the free market and views Tony Blair as his role model, I believe him," said Zwebner. "The Histadrut is far more capitalistic than was once thought possible," he added.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS