Issued by England’s King John in 1215, Magna Carta sets a series of constraints on the monarchy that became a fundamental part of the British constitution, and a direct line can be traced from this charter to the traditions of limited government that underpin the American founding. It is also, as Walter Russell Mead, Jonathan Silver, and Catherine Pakaluk explain, a document that places religion front and center. Mead observes that it opens with a “reassertion of the rights of the church,” and takes as axiomatic that “freedom and liberty if not grounded in reverence and faith sooner or later will go badly.” To Mead, the lesson to be learned from Magna Carta is that the cause of liberty and the preservation of tradition go hand in hand. (Video, 77 minutes.)
The Religious Foundations of Magna Carta’s Legacy of Liberty
Will Costco Go to Israel?
Social-media users have mocked this week new Israeli finance minister Bezalel Smotrich for a poorly translated letter. But far more interesting than the finance minister’s use of Google Translate (or some such technology) is what the letter reveals about the Jewish state. In it, Smotrich asks none other than Costco to consider opening stores in Israel.
Israel, reports Sharon Wrobel, has one of the highest costs of living of any country in the 38-member Organization for Economic Co-operation and Development.
has been generally attributed to a lack of competition among local importers and manufacturers. The top three local supermarket chains account for over half of the food retail market, limiting competition and putting upward pressure on prices. Meanwhile, import tariffs, value-added tax costs and kosher restrictions have been keeping out international retail chains.
Is the move likely to happen?
“We do see a recent trend of international retailers entering the Israeli market as some barriers to food imports from abroad have been eased,” Chen Herzog, chief economist at BDO Israel accounting firm, told The Times of Israel. “The purchasing power and technology used by big global retailers for logistics and in the area of online sales where Israel has been lagging behind could lead to a potential shift in the market and more competitive prices.”
Still, the same economist noted that in Israel “the cost of real estate and other costs such as the VAT on fruit and vegetables means that big retailers such as Costco may not be able to offer the same competitive prices than in other places.”