In recent years, the achievements of the Israeli education system have been lower than the OECD average, which is certainly a worrying situation, mainly for a country whose growth strategy is based on human capital.
The policy worked in the short term. The full effect, however, was that the U.S. experienced a credit boom with consumers increasing their debt from 80 percent of disposable income to 125 percent. Banks increased their leverage ratios – assets to equity capital – from 15-to-1 to 30-to-1.