Mishpatim - Invested
Collecting interest versus taking an interest: Mutually supportive and committed relationships are essential for a flourishing economy.
I'd like to remind everyone that this Thursday, February 15 is the deadline for purchasing tickets and placing ads for the Mekor gala. This event is our most crucial fundraiser of the year, and it's what allows us to serve the Center City Jewish community as effectively as we do. Let us all show our support for our community by contributing to the success of the gala.
To understand this week’s parsha, I believe it is essential to understand the Torah's teaching and the Talmud's elaboration on the complicated prohibition of ribeet—charging interest on loans. In our economy, which is heavily reliant on interest, this prohibition seems perplexing. Why is taking interest prohibited, and why should borrowing money be free? Is that equitable to the lender? Moreover, why would anyone choose to lend money under these conditions? Such a practice could halt the loan industry, leading to a broader economic downturn.
I believe the explanation of this topic hinges on our comprehension of the concept of interest. The term "taking interest" has a dual meaning: it refers to the act of charging interest on a loan, but it also signifies showing concern or care, as when one develops an interest in a hobby or takes an interest in another person. When interest is charged solely for profit, the lender's concern is not the borrower's success but merely ensuring repayment or securing valuable collateral for ownership transfer. This mindset places financial profit above the welfare or success of the borrower. Conversely, when interest in a business extends beyond financial charges, and genuinely supports a business, it fosters a symbiotic relationship where both lender and borrower benefit from the venture's success.
In Parshat Mishpatim, the Torah defines our role within the wider economic framework, urging us to contribute to the overall economy rather than solely focusing on our financial prosperity. It highlights that although self-interest is an essential component of economic activity, it becomes harmful when it exclusively centers on personal gain at the expense of the welfare of the community.
That could be why in the Gemara, the word used for “blood”, is “damim”, which is also the word for “money;” Because both blood and money have no intrinsic value when they stand alone. Blood is valuable only in the complex environment of a human body, and money is worthless paper unless it has value in the context of a shared economic system where people care about each other and the system as a whole.
Similarly, the commitment of the Jewish People upon accepting the Torah was expressed in a twofold manner. In the preceding week's Parsha, Yitro, their pledge of obedience was straightforward:
וַיַּעֲנוּ כׇל־הָעָם יַחְדָּו וַיֹּאמְרוּ כֹּל אֲשֶׁר־דִּבֶּר יְהֹוָה נַעֲשֶׂה
All those assembled answered as one, saying, “All that God has spoken we will do! [Exodus 19:8]
This declaration, lacking in subtlety, suggests a focus solely on the result - a commitment to action without question. This stance, while obedient, overlooks the depth of the process, the nuances of the relationship, and the emotional engagement involved. In contrast, this week's Parsha reveals a deeper commitment:
וַיִּקַּח סֵפֶר הַבְּרִית וַיִּקְרָא בְּאָזְנֵי הָעָם וַיֹּאמְרוּ כֹּל אֲשֶׁר־דִּבֶּר יְהוָה נַעֲשֶׂה וְנִשְׁמָע
Then he took the record of the covenant and read it aloud to the people. And they said, “All that God has spoken we will do and be attentive! [Exodus 24:7]
This pledge to act and then to listen indicates a proactive engagement in the relationship. It embodies a willingness to not only comply but to understand and consider the broader context of each command, reflecting a thoughtful and comprehensive approach to the relationship. This shift from mere obedience to thoughtful engagement underscores the importance of being fully invested in the relationship, and recognizing the value of each command beyond its literal interpretation.
For instance, imagine you're a cook at a restaurant and your supervisor calls you to a meeting while you have food cooking on the stove. Prioritizing only your immediate obligations and following orders literally, you might rush off to the meeting, risking the meal burning because you're adhering strictly to instructions. However, if you're genuinely concerned about the well-being of the restaurant, you would ensure the kitchen is safe before attending the meeting, demonstrating your commitment to the restaurant's success, its owners, its customers, and your colleagues.
This analogy extends to our participation in the economy, underscoring the recognition that we are part of a larger entity. Money's influence on our relationships is often more significant and enduring than we might acknowledge, partly because we shy away from appearing materialistic. Yet, by reevaluating our engagement with the economic system, we can begin to appreciate how financial decisions reflect on our investment in personal relationships, suggesting that money, in its essence, can teach us valuable lessons about the nature of personal commitment and communal responsibility.
Remember, economic relationships are reciprocal: while the lender must be genuinely invested in the borrower's success, it's just as vital for the borrower to honor their obligations and understand their role within the economy with equal seriousness.
That is why our Parsha begins with the topic of Jewish slavery. It’s ironic that we just completed the Exodus from Egypt which taught the critical lesson that slavery is the root of evil, and the first law we learn about is the legitimacy of slavery! Even if we treat slaves better than the Egyptians did, it’s still quite surprising to see this concept presented so soon afterward.
The context surrounding the case of a Jewish slave is essential to grasp the underlying point here. A Jewish slave typically referred to an individual who, having committed theft and unable to repay the stolen amount, was sold into servitude by the court. The proceeds from this sale were then allocated to the victim of the theft. After presenting this case, Rashi then quotes another verse in Vayikra which states that if you owe money and you can't afford to pay your debt, then you are sold as a slave:
מִיַּד בֵּית דִּין שֶׁמְּכָרוּהוּ בִגְנֵבָתוֹ, כְּמוֹ שֶׁנֶּאֱמַר אִם אֵין לוֹ וְנִמְכַּר בִּגְנֵבָתוֹ
This means a Hebrew servant whom thou hast bought from the hand of the court which sold him for a theft which he had committed…
כשֶׁהוּא אוֹמֵר וְכִי יָמוּךְ אָחִיךָ עִמָּךְ וְנִמְכַּר לָךְ (ויקרא כ"ה), הֲרֵי מוֹכֵר עַצְמוֹ מִפְּנֵי דָּחְקוֹ אָמוּר
When the Torah says: “And if your brother becomes impoverished beside you and is sold to you” (Lev. 25:39), one who sells oneself because of poverty is mentioned [here]. [Rashi, Exodus 21:2]
The Torah does not advocate for slavery; rather, it imparts a lesson, as highlighted in Mishlei/Proverbs:
וְעֶבֶד לֹוֶה לְאִישׁ מַלְוֶה
And the borrower is a slave to the lender. [Proverbs, 22:7]
If you owe someone money because of a debt, whether because you stole the money or you borrowed the money, you become a “slave” to the person you owe. You must realize that placing yourself in someone’s debt has serious consequences, and that is the kind of slavery, so to speak, that is considered legitimate because it is the lifeblood of the economy – it means people are invested in the system. Our Parsha emphasizes that reciprocal, invested relationships are essential elements in a successful, resilient economy.
No country in the world exemplifies this ideal more than Israel, widely known for its incredible technological and biomedical innovation. Since October 7, Israel has grappled with unprecedented changes in every aspect of society. One of the greatest challenges has been the impact on the Israeli economy, although that topic is not often the focus of news reports. The tourist industry has all but disappeared, leaving many without a source of income. Farms and businesses large and small have had to cope with a shortage of staff, many of whom were tragically lost during the Hamas attacks or the war, and many others who were called up for active reserve duty. It has been inspiring to witness the extraordinary efforts by Israeli society and the business community to help the economy stay afloat. People are donating time, money, and resources, and collaborating to find ways to drive the economy.
I recently learned of a tech startup initiated by two ambitious young entrepreneurs. Following the October 7 attacks, they were both called to serve, temporarily leaving their emerging company without its founding leadership. But even in their absence, the business has thrived, despite this tough economic climate. Their formula is an outpouring of customer support and collaborations with Israeli and international investors. These stakeholders have taken to heart the message of our Parsha that a flourishing economy should be about taking an interest in collective success, not exploiting someone else’s financial vulnerability to make a quick buck.
A resilient economy, as envisioned by the Torah, rests on a shared commitment to navigate the challenges and celebrate the victories in both business and life together, aiming for mutual success among investors, business owners, and all individuals involved. This spirit of care and cooperation underpins the Torah’s prohibition against charging interest, underscoring the primary lesson of this week’s parsha: the importance of taking an interest in the success of all participants within the economy.
Shabbat shalom.
Eliezer Hirsch