You're thinking Empirically, not economically. Yes, Europe screwed around in Africa and the Middle East, yes, in some cases we made a complete disaster of it, but the current situation stays as it is because of the trading and employment practices in a lot of countries Europe and America included (as well as, it should be noted, their own government in many cases).
The UK established the Nation of Israel in the Middle East, this much is certainly true, but the problems in the Middle East continue on such a large scale not because of the existence of Israel, but in the fact that the majority of Palestinians are poor, oppressed and living in constant fear. When you're desperate, you'll jump on any cause that comes along, no matter how radical, especially when not only are you being told that Israel are recieving 'better treatment', but see it with your own eyes. Of course, you aren't told the whole story, they don't mention the Embargos and Sanctions that their own parties' Terrorism has caused any more than American politicians would voluntarily discuss Gitmo Bay.
The 'hatred of Israel' is a requirement to be part of one of the few organisations that can provide food and clothing, if being fundamental will get you that, most Palestinians would pay that price just to survive, and once you're in, the Dogma WILL brainwash you.
The weight for that situation, I feel is something we all have to carry.