Word: israel
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Dates: during 1960-1969
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...catheter is threaded through it. Earlier catheters were often stopped by friction and could not always be guided into the desired path at a junction or around sharp curves. The new model, developed in research at Manhattan's Columbia-Presbyterian Medical Center and at the Weizmann Institute in Israel, has a magnetic tip. This can be made to oscillate in different directions under the control of an external magnet on alternating current. As the tip vibrates, it pulls clear of the artery's walls, leaving them undamaged, and "swims" forward. When the magnet is powered by direct current...
...ordinary economic rules, Israel ought to be in receivership. After more than a decade of living beyond its means, the country skidded into a deep recession in 1965 when Premier Levi Eshkol's anti-inflationary slowdown proved too abrupt. Unemployment jumped to 10%, and the government for the first time in its history was forced to put the jobless on the dole...
Then came the Six-Day War. It cost the nation of 2,669,000 people more than $1 billion, and Israel is still paying the price of victory. Since the war, the military budget has more than doubled, to $800 million - equal to 18% of the gross national product - partly because of the burden of defending conquered Arab lands. Just to administer the "new territories" costs $40 million a year. The bills are so big that Israel recently had to cut $100 million from public-works projects in order to meet the government's payrolls...
Help from Rothschilds. The output of goods and services is running 14% ahead of last year's $4.1 billion pace, much better than the remarkable 10% annual growth that Israel recorded during the late 1950s and early '60s. Industrial production is up by about 30% from last year's $1.8 billion rate, and just about every other indicator is rising. Inflation, in the meantime, has been held to a manageable...
There are several reasons for the recovery. For all its drawbacks, Eshkol's policy of restraint has forced Israel's powerful labor unions to hold the wage line. In the months between the June war and the end of 1967, worldwide sales of Israel bonds and United Jewish Appeal contributions pumped some $550 million into the economy. Though those sources are thinning out-they are expected to yield only $230 million for all of 1968-such overseas friends as the Rothschilds and Sir Isaac Wolfson, the British retailing magnate, are currently spurring a drive for new investment capital...