It is illegal, and punishable by death to practice Judaism in most Arab states. Virtually every Jew was ejected from the Arab nations in 1948 and there are thriving communities of refugees, not called that b/c Israel accepted them, from all of those nations in Israel who yearn to be able to go back, at least for a visit, to their former homes in Yemen, Iraq, Saudi Arabia, etc.
Israel was founded as a socialist state but has not been one in many decades. The kibbutz movement was socialist. During Netanyahu's time as finance minister he made major transformations to the economy, including weakening the national union, Histradut.
Israel has more companies on the Nasdaq than any country but the US and by FAR the most per capita.