The Balance between Idealism and Realism in Jewish Financial Law

Abstract

This paper discusses Jewish law as it relates to finance. The article focuses on Biblical commandments and prohibitions related to lending. Normative Jewish law prescribes a capitalistic economic environment with ethical-based commandments primarily on the individual level. As the paper shows, rabbinic leadership during the Mishnaic and Talmudic eras used its quasi-judicial, quasi-legislative capabilities to reconcile the biblical commandments and the socio-economic needs of the Jewish society. Primary Jewish law sources used include biblical references, the Mishnah and Babylonian Talmud, and Maimonides’s codex of Jewish law, the Mishneh Torah.

Keywords: Law, Judaism, Finance, Talmud, Religious Law