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Despite efforts to finalize the peace agreement, the conflict continues to play a major role in Israeli and international political, social and economic life.The economy of Israel was initially primarily socialist and the country dominated by social democratic parties until the 1970s.The first use of grapheme-based writing originated in the area, probably among Canaanite peoples resident in Egypt.This evolved into the Phoenician alphabet from which all modern alphabetical writing systems are descended.



In 1993, Israel signed Oslo I Accord with the Palestine Liberation Organization, followed by establishment of the Palestinian National Authority and in 1994 Israel–Jordan peace treaty was signed.

The oldest evidence of early humans in the territory of modern Israel, dating to 1.5 million years ago, was found in Ubeidiya near the Sea of Galilee.