The Economic Fallout from Curtailing Judicial Independence
The attempt to emasculate Israel's Supreme Court has drawn widespread criticism and protest, both at home and abroad. An intriguing aspect of the situation has been the opposition expressed by business interests and economic experts, who are often and perhaps wrongly believed to attach an overwhelmingly high value to efficiency, commonly achieved in an institutional environment characterized by the absence of competing centers of political power. Perhaps the most visible manifestation of the concerns and fears emanating from this source has been the open letter to Prime Minister Benjamin Netanyahu signed by fifty-six prominent international economists, including eleven Nobel laureates, stating that judicial reform along the lines contemplated would set Israel on a course akin to that of Hungary and Poland.
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