Catherine Rampell’s readers provide her with examples of anticapitalist passages in the Jewish Bible.
As described in Leviticus 25, every 50th year is a jubilee year, during which slaves are freed and property is returned to its original owner.
Debts are forgiven even more frequently. Just as God rested on the seventh day, I.O.U.’s get wiped out every seventh year. From Deuteronomy 15:
At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the Lord’s time for canceling debts has been proclaimed.
I can think of a few American homeowners who might support reviving this rule. Maybe a few countries, too. Oh, but wait — the biblical passage continues:
You may require payment from a foreigner, but you must cancel any debt your brother owes you.
Sorry, Greece.
Catherine Rampell, “Reader Response: Bible-nomics“, Economix, 3 February 2012.
Catherine Rampell is an economics reporter for The New York Times. This, and her earlier post, is in response to a recent op-ed column by Rabbi Aryeh Spero:
The mechanism of capitalism, as manifest through investment and reasoned speculation, helps facilitate our partnership with God by bringing to the surface that which the Almighty embedded in nature for our eventual extraction and activation. ….
Many on the religious left criticize capitalism because all do not end up monetarily equal—or, as Churchill quipped, “all equally miserable.” But the Bible’s prescription of equality means equality under the law, as in Deuteronomy’s saying that “Judges and officers . . . shall judge the people with a just judgment: Do not . . . favor one over the other.” Nowhere does the Bible refer to a utopian equality that is contrary to human nature and has never been achieved.
Aryeh Spero, “What the Bible Teaches About Capitalism“, The Wall Street Journal, 30 January 2012.