The Spanish Flu Didn’t Wreck the Global Economy
What Is Different About the Coronavirus Pandemic?
In 1996, Ehud Barak, who was then Israel’s foreign minister and would later serve as prime minister, characterized Israel as “a modern and prosperous villa in the middle of the jungle.” Twenty years later, as political turmoil and violence engulf the Middle East, that harsh metaphor captures better than ever the way most Israelis see their country and its place in the region. Their standard of living has never been higher. Their country’s economy is robust, and Israel’s entrepreneurial spirit remains the envy of the world. In 2015, Israel ranked as the planet’s fifth-happiest country on the Organization for Economic Cooperation and Development’s Better Life Index, topped only by Denmark, Finland, Iceland, and Switzerland. In its first half century of existence, Israeli soldiers fought a war virtually every decade against well-armed conventional Arab armies. Today, the threat of such a war has vastly diminished, and