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What Judaism Has to Say about Capitalism

Dec. 11 2019

Of late, critiques of capitalism have proliferated on both left and right, so that it is commonplace to write and speak of its failure as a foregone conclusion. Jeremy Rosen, skeptical of such assumptions, turns to traditional Jewish texts, among them a passage from the talmudic tractate Avot that contrasts four attitudes to private property:

“What’s mine is mine and what’s yours is yours” is a balanced attitude. But some say that was the attitude of the men of Sodom.
“What’s mine is yours and what’s yours is mine” is that of a simpleton.
“What’s mine is yours and what’s yours is yours” is that of a saint.
“What’s mine is mine and what’s yours is mine” is that of a wicked person.

Rosen comments:

The first line asserts an individual’s freedom to accumulate wealth. But this could also imply selfishness and disregard for the others. When used that way it was regarded as morally corrupt, like the city of Sodom. The second one illustrates stupidity. If we are going to approve of material possessions, and the right to accumulate, then it stands to reason that each person should be able to choose how, and how much, they want to accumulate. To have people decide for each other is just silly. That is what gangsters, dictators, and ideologues do.

The third proposition says that a rejection of materialism is saintly. But it does not necessarily disapprove of those who cannot adopt such a selfless attitude. And finally, accumulating for oneself by taking what belongs to others is obviously the worst ethical position. One might argue that socialist dictatorships do this as much as capitalist governments: they decide how much you can keep.

In this passage, as in many others, the [Jewish tradition] implies that there is no perfect political solution. In the Bible, there are different models of leadership, governance, and economic systems. Each state—each community—needs to adapt to survive and thrive. A solution that works at one moment in time, or in one situation, may not be the right one forever. Flexibility is essential. Otherwise, systems atrophy. The beauty of democracy, despite its limitations, is that it allows for change.

Read more at Algemeiner

More about: Capitalism, Democracy, Judaism, Socialism, Talmud

The Summary: 10/7/20

Two extraordinary events demonstrate something important about Israel’s most fervent adversaries. One was a speech given at something called The People’s Forum (funded generously by Goldman Sachs), which stated, “When the state of Israel is finally destroyed and erased from history, that will be the single most important blow we can give to destroying capitalism and imperialism.”

The suggestion that this tiny state is the linchpin of a global, centuries-old phenomenon like capitalism goes well beyond anything resembling rational criticism. Even if Israel were guilty of genocide, apartheid, and oppression—which of course it is not—it would not follow that its destruction would help end capitalism or imperialism.

The other was an anti-Israel protest that took place in front of New York City’s Memorial Sloan Kettering Cancer Center, deemed “complicit” in Israel’s evils. At organizers’ urging, participants shouted their slogans at kids in the cancer ward, who were watching from the windows. Given Hamas’s indifference toward the lives of Gazan children, such callousness toward non-Palestinian children from Hamas’s Western allies shouldn’t be surprising. The protest—like the abovementioned speech—deliberately conveyed the message that Israel is the ultimate evil and its destruction the ultimate good, cancer patients be damned.

The fact that Israel’s adversaries are almost comically perverse does not mean that they can be dismissed. If its allies fail to understand the obsessive and irrational hatred that it faces, they cannot effectively help it defend itself.

Read more at Mosaic