The Jewish Ethicist: Speculation

The Jewish Ethicist: Speculation

from aish.com

By: Rabbi Dr. Asher Meir, Business Ethics Center of Jerusalem

Q. Some people make a lot of money on speculation. Is it really ethical to make money without producing anything, just by guessing which way prices are going to move?

A. Fundamentally, speculating is an economically productive activity. But there is no question that it does present some ethical challenges.

The economic importance of speculation is that it encourages the efficient allocation of resources. When speculators hoard a commodity anticipating a future shortage, the result is that when there is indeed a future shortfall in supply, adequate stockpiles will exist. In the framework of modern competitive markets, speculation contributes to effective exploitation of scarce resources.

Continue reading

The Talmudic Formula for Success

The Talmudic Formula for Success

from aish.com

by Bob Diener

After practicing corporate and securities law for a couple of years at one of the largest law firms in the world, I decided to pursue my entrepreneurial passions and start a travel business. I worked hard and had a passion to succeed. My dream was to have enough annual profits to sell the company and have enough funds from the sale to retire and do whatever I wanted to do for the rest of my life. Buy a nice condo, fancy sports car, travel and more. When we exceeded that annual profit goal, I sold the company and moved back to Florida where I grew up to enjoy life. I thought I reached a level of great success, but six months later I was so bored. I didn’t feel successful. I felt a lot was missing.

Continue reading

The Jewish Ethicist – Pollution

The Jewish Ethicist – Pollution

From aish.com By: Rabbi Dr. Asher Meir, Business Ethics Center of Jerusalem

Q. Does Jewish law forbid pollution? Does the polluter have to pay damages, like anyone else who causes harm?

A.Among the very first commandments given in the Torah are those providing for payments for damages. In chapter 20 of the book of Exodus we have the revelation on Mount Sinai and the Ten Commandments, and in the very next chapter we find the nuts and bolts of damages for battery, damages caused by animals, and so on.

Continue reading

Holy Money

Holy Money
from aish.com by Rabbi Yitzchok Breitowitz

Many have a mistaken idea of what is within the scope of Jewish tradition. People know that lighting Chanukah candles, observance of Shabbat, laws of Kashrut, etc., are the purview of rabbis. But many have an attitude that “If I don’t tell the rabbi how to run his business, the rabbi shouldn’t tell me how to run mine.” Very often, we live fragmented, dichotomized lives where what we do in the office from 9-to-5 (or if you’re a workaholic, from 8-to-7) is our own private affair, and then at home we observe the holidays and rituals of Judaism.

The Talmud discusses the questions people are asked by God after their deaths. The very first question we are held accountable for — even before issues of religious practice — is “Nasata V’netata Be’emunah,” which means “did you conduct your business affairs ethically?”

Ritual behavior and social behavior are all part of the same religious structure.

Throughout the Torah, there is constant juxtaposition between ritual commands and the ethical obligations of one human being to another. One verse may say, “Don’t worship idols,” followed by, “Do not cheat, do not misrepresent, do not engage in fraud” (Leviticus 19). Dichotomy between ritual behavior and social behavior is foreign to Judaism, because they are all part of the same God-given morality, the same religious structure.

Business ethics is the arena where the ethereal transcendent teachings of holiness and spirituality most directly confront the often grubby business of making money, of being engaged in the rat race that often comprises the marketplace. It is the acid test of whether religion is truly relevant, or religion is simply relegated to an isolated sphere of human activity. It is business ethics, one could posit, above all, that shows how God co-exists in the world, rather than God and godliness being separate and apart.

Continue reading