An Initiative: The National Economic Council Legislation Proposal

Against the backdrop of the proposed National Economic Council Legislation, the Reut Institute claims that the National Economic Council will need to develop 'soft power' through its values and professionalism in order to become a more influential player.
Gilad Erdan, chairman of the Knesset Economic Affairs committee, is currently promoting legislation to codify the status of the National Economic Council.

The council's establishment dates to a government decision in 2006; however, it still lacks statutory status. Erdan argues that legislation is necessary in order to secure its independence from the government.

The Reut Institute argues that the ability of the National Economic Council to become an influential player within the public sphere stems not only from legislation. An exemplary reputation will also be a source of authority and legitimacy. This is similar to what is known as "soft power"- power that is driven by inspiration of value and professionalism which is not dependent on authority given by the law.

National Economic Councils in Europe derive their strength from their structure and operations and not just from the powers entrusted to them through legislation.

  • Mandate from the decision maker - Full support from and access to the Prime Minister.

  • Professional Authority - Reports and publications based on the highest professional standards.

  • Framing Crisis as Opportunities - Instigate processes in response to capital, social, and economic challenges.

  • Ability to bring together representatives of different social sectors as leaders - Representatives of major social and economic organizations participate in the council's discussions as leaders.

  • Relevance in the face of changing Reality - A body that knows how to analyze needs and to organize itself properly in order to provide the adequate solution.

For further details see also:

Op-Ed: The Soft Power of the National Economic Council

Source:

Assaf Amsterdamski, כלכליסט, 03/20/08.