Judaism and the Profit Motive: How Compatible are They?

By the JABE Team

This year Britain was rocked by a scandal which led to the closure of Britain's largest newspaper, brought a media empire to its knees, resulted in the resignation of the Commissioner of the Metropolitan Police and one of his deputies, and reverberated into the highest echelons of government and politics. The News of the World hacking scandal epitomised business at its worst, with the desire for profit and the mindless pursuit of money overriding all sense of ethics and integrity.

As the repercussions from the scandal continue to mount, what lessons can we as Jews learn from it?

The Rabbis understood that the desire for money and profit is so strong that it can dominate us unless controls are put into place. However, Judaism also recognises that there are positive aspects to the pursuit of wealth and financial success. In fact, when the High Priest came out of the Holy of Holies on Yom Kippur, nearly half of his prayer on behalf of the Jewish people dealt with financial wealth and material well-being. Among other things, he asked for God's "treasury to be opened for us" and he prayed for "a year of abundance; a year of expansiveness and success; a year of affordable prices; a year of commerce and a year of prosperity." (Talmud Bavli Yoma 53b and Yerushalmi Yoma 5:1 as quoted in the Yom Kippur prayers).

So although Judaism does not condemn financial success and material wealth, it does stress the need to cultivate a healthy relationship with money; namely that halacha and values define its use rather than being defined by it. Rabbi Yechiel Ben Yekutiel, in his Book of Virtues and Values, lists 24 positive values, one of which is honestly-obtained wealth. The Babylonian Talmud asks what one should do to become wealthy, and the answer given is to "engage in much business and to deal honestly".

While Judaism encourages us to work hard and to succeed, certain principles must be adhered to, including:

Respecting the rights of others – The hacking scandal was caused by the interception of people's telephone conversations, text messages and emails. According to Jewish law everyone has a right to privacy, and this right applies even to seemingly trivial matters. When information is shared between two parties there is an assumption that the information is not to be repeated or passed on to others. This was codified in the 10th Century by Rabbi Gershom ben Judah of Mainz, who declared a ban on reading other people's mail or correspondence.
Going beyond what the law requires – From an English legal perspective one is not required to report wrongdoing by a fellow employee, while from a Jewish perspective standing aside and doing nothing to prevent wrongdoing may make one an accessory (Shulchan Aruch). Senior directors, therefore, cannot turn a blind eye to the ethical infractions of others, no matter how profitable they may be for the company.
Taking responsibility – Judaism teaches that we all have free will to choose between right and wrong, and we are therefore ultimately responsible for our actions.
Acting with honesty and integrity at all times – Maimonides, in Hilchot De'ot, emphasises that the ethical imperative for honesty and truthfulness applies not just to one's business transactions but to all one's dealings and in all situations.

The desire for profit at all cost caused many in the media and the government to loose sight of higher principles and ultimately led to a scandal that rocked the nation. Jewish law recognises the pursuit of profit, financial success and material wealth to be valid. This pursuit, however, is only honourable if it is conducted ethically and with a sense of honesty, integrity and social responsibility.