Sermon: Masters of the Universe or just Loadsamoney?

Written by Writings & Sermons by others — 25 February 2009

Jews have been amongst the most prominent communists as well as the most prominent capitalists. Karl Marx and Friedrich Engels, Milton Friedman and Nathan Mayer Rothschild – all Jews. So where, asks Rabbi Mark Goldsmith, is Judaism in the struggles of the economy today? And what is an appropriate response to capitalism run riot?

From the Torah is seems pretty clear – the right kind of economy is all about balance. Yes you can own land – but every fifty years the land is re-allocated in the jubilee system back to the tribal allocations so that no-one can buy up everyone else’s (Leviticus 25). Yes, earn as much money as you can but if your poor and needy fellow comes to you and asks you to lend to him so that he can survive then you must be prepared to provide him or her with an interest free loan (Leviticus 25 and Deuteronomy 23). Yes you can employ others in order to increase your productivity but you must pay them promptly.  Yes you can trade and make a profit but you must not even own weights and measures which are not calibrated properly let alone use them.  Yes you can own a field and enjoy the profit from it but you must leave the corners for the poor and needy to be able to feed themselves (Leviticus 19).

In the Mishnah and Talmud, where Torah principles are developed for the trading conditions of the day, the search for an appropriate balance in the economy continue with extreme positions always rejected. Rabbi Judah says that there should be no price competition and no promotional giveaways but the majority of rabbis reject his view saying that all traders can participate in a competitive market for the good of the buyer (Mishnah Bava Metziah 4:12). The Rabbis permit hoarding of luxury items in order to make a good profit in a future market but not of essentials such as basic household goods and foodstuffs (B. Talmud Bava Batra 90b).  A healthy net profit of one sixth is allowed but profits above that level are subject to prior agreement between buyer and seller (Mishnah Bava Metziah 4:3). When the payback conditions on free lending from the Torah, that all debts were cancelled by a seven year cycle, became a bar to people’s preparedness to lend, Hillel introduced collection of debts by the Beth Din so that money still had to be repayed, and a first century credit crunch was thus averted (B. Talmud Gittin 36a-b). Above all, everyone who benefits from the economy is expected to contribute to the relief of poverty through Tzedakah, including the person whose income comes largely through Tzedakah itself (B. Talmud Gittin 7b).

The insights of this system are still studied and practiced by Jews worldwide through such organisations as the Jewish Association for Business Ethics in London, the Center for Business Ethics in Jerusalem and through numerous synagogue programmes, such as Alyth’s Study in the City.  It needs to be because often what Jewish business ethics require of us is counter intuitive.  Judaism sees making a good living as a person’s right to wring fruitfulness from the earth but always alongside this right is the duty to recognise the source of the Earth’s fruitfulness and to do God’s will in ensuring that the set up of the economy gives a good level of support those who do not share in your good fortune. There is only one Master of the Universe – the rest of us prosper by God’s good grace.