First Trust Deputy Chief Economist Robert Stein spoke to Fox News Digital about the anti-Israel protesters calling to divest, calling their demands 'almost impossible' to enact.
An economist is warning U.S. students calling for their universities to "divest from Israel" that such a move would be "almost impossible" to implement. In an interview with Fox News Digital, First Trust Deputy Chief Economist Robert Stein explained that Boycott, Divestment, Sanctions supporters are mistaken about what it would mean to divest from Israel-affiliated companies.
So trying to divest from Israel, and companies that do business with Israel, presupposes that there's some sort of similar broadly indexed fund, or ETF out there in which universities can invest," the economist continued. "And offhand, I can't think of any." "Basically, it would be almost impossible for BDS to be implemented... logistically, a market would have to be created for funds dedicated to not investing in Israel.
don't think if BDS were to be imposed, that it would raise tuition," Stein explained. "Because I don't think endowments are used to cut tuition. They're used to hire more administrators. They're used to increase pay for academics… academic institutions use endowments to enrich themselves, selfishly." Stein, who formerly worked for the Department of Treasury and the Senate Budget Committee, stressed that the idea of divesting against Israel is unrealistic.
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