With poor relations among our leaders and turmoil in many countries and their universities, the October 7 atrocities seem to be forgotten by some. Maybe it’s time for an additional message: How about an economic and Torah message? Here is a plan we call the Joseph Accords.
History teaches us how the war between Israel and Hamas may end – with an economic alternative to war. In World War II, Germany and Japan were very hostile, but once beaten, the Marshall Plan revived Europe, and Gen. Douglas MacArthur brought American cash and laws to Japan. The Irish troubles finally ended after 800 years with the 1998 Good Friday Agreement and a peace dividend.
The Torah presents an excellent economic precedent regarding Joseph in Genesis 41. Here are some highlights: Joseph told the Pharaoh of Egypt that seven years of great abundance are coming throughout Egypt, but seven years of famine will follow. So Pharaoh said to Joseph: “I hereby put you in charge of the whole land of Egypt.”
The seven years of abundance came to an end, and the seven years of famine began, just as Joseph had said. When the famine had spread over the whole country, Joseph opened storehouses and sold grain to the Egyptians, for the famine was severe throughout Egypt. All the countries came to Egypt to buy grain from Joseph because the famine was severe all over the world.
The war has lasted more than seven bad months. When it ends, everyone wants at least seven prosperous years for everyone in this part of the world – Gazans, modern-day Egyptians, other Arab countries, and Israel. How? Our plan is called the Joseph Accords for biblical reasons. The aim is to use the Torah and economics for the benefit of all and to generate hope. The plan is self-financing. And the Five Books of Moses (Torah), including Genesis, are generally respected by Judaism, Islam, and Christianity.
Economic opportunity
Gaza Marine is a natural-gas field off the coast of the Gaza Strip. It is located about 36 kilometers offshore at a depth of 2,000 feet (610 meters). The field was discovered in 2000 by BG (British Gas) Group, and it is estimated to contain more than one trillion cubic feet of natural gas.
For many years after the discovery, security and economic negotiations delayed its development. Clearly, gas exploitation would be a huge bonus for the Gazan economy.
As recently as June 18, 2023, the Israeli government gave preliminary approval for Gaza gas development, making the October 7 massacre even more deplorable. At the time, the Prime Minister’s Office announced: “In the framework of the existing efforts between the State of Israel, Egypt, and the Palestinian Authority, with emphasis on Palestinian economic development and maintaining security stability in the region, it has been decided to develop the Gaza Marine gas field off the coast of Gaza. Israel seeks to maintain the security and diplomatic interests of the State of Israel on the matter.”
Who would administer it all? We propose that gas and business/financial managerial experts (i.e., technocrats) be appointed as trustees to help all concerned – the peoples of the region and the financial backers – perhaps the US, UK, Qatar, Saudi Arabia, Egypt, and others. The trustees would be tasked with overseeing the development and exploitation of the Gaza gas and applying its proceeds via escrow bank accounts to the welfare of the Gazan people (food, education, housing – not terrorist tunnels). They would produce detailed audited financial statements confirming this.
A trust is a common law concept dating back hundreds of years that is used across English- (and Hebrew-) speaking countries. Europeans have a roughly similar concept of a foundation. In a trust, there are three parties: (1) the settlor (or grantor) who sets up the trust (in this case interested countries); (2) the beneficiaries (Gazans mainly); and (3) carefully selected trustees (technocrats) who administer it all.
The terms of the trust should be recorded in a trust deed (agreement). In this case, the technocrats as trustees would be obligated under the trust deed to apply the gas, equipment, and proceeds for the welfare of Gazans, not terrorism. Hamas would have zero signatory powers. Many details would need to be decided, but the above is a macro view of a plausible direction to consider after the war.
There would be plenty. The main pro is a potentially enduring peace after a terrible war, using an economic solution, based on history and Joseph in Genesis – at little or no cost to taxpayers.
leon@hcat.coLeon Harris is an accountant at Harris Consulting & Tax Ltd. With special thanks to Dr. Reuven Gal and Rabbi Elisha Wolfin.