The new Minister of Industry, Trade and Labor, Naftali Bennett, is changing the name of the Ministry to the Ministry of Economy and Trade. It is not clear why Bennet is making this change but dropping the word “industry” runs contrary to current trends in the advanced western countries. In the past, it was thought that national economies can be based on financial and other services, technological innovation and internet, but the 2008 crisis proved that such economies are on shaky grounds and a strong industrial manufacturing component is essential to solidify the economy. Hence Bennet’s semantic change symbolically runs contrary to current trends and thinking.
/ Latest Insights /
