jewish business guide

H. H. Friedman: The Talmud as a Business Guide MJAE, Vol. 1, No. 1, pp. 38-48

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UDC: 296.8:174 174:296.8

Conceptual paper Received: 10-01-12 Accepted: 28-01-12

The Talmud as a Business Guide

Hershey H. Friedman, Ph.D. Brooklyn College of the City University of New York, School of Business

[email protected] Abstract. Purpose: There is a great deal of interest in discovering the secrets of business success according to the Talmud. This interest is satisfied in the present paper by listing and explaining some principles, stories, and cases from the Talmud. Approach: The topic is approached in the manner of analysis of the Talmud as a business guide and as a set of stories and cases (part seven). Findings: Some of the Talmudic sages were indeed quite wealthy (introduction). This paper demonstrates that the Talmudic approach to becoming wealthy (part two) involves respecting hard work, leading an ethical life, being charitable, treating employees well, going beyond the strict requirements of the law, and caring for others (parts three to six). Implications: There are some indirect (conceptual) and some direct (in terms of principles and cases) implications of the Talmud as a business guide (as shown in part seven). Methodology: Conceptual approach with addition of some Talmud stories as case studies. Keywords: business ethics, Talmud, how to become wealthy, flaunting wealth, employer-employee relations.

1. Introduction 1.1. The Talmud as a source of business ethics An article in Newsweek noted that several books purporting to reveal the Talmud secrets of business success have recently been published in China. Know All of the Money-Making Stories of the Talmud and Crack the Talmud: 101 Jewish Business Rules were just two of the titles mentioned (Fish, 2010). Apparently, many Chinese believe the Talmud, Judaism’s Oral Law, is a how-to manual responsible for Jewish success in business. While primarily a collection of rabbinical discussions and commentaries on the Torah’s written text, the Talmud also contains halachic and aggadic references to business matters and ethics. The written law is contained in the Pentateuch (the Five Books of Moses, i.e., the Torah).

The Talmud, assembled separately at Israeli and Babylonian academies, expounds the Hebrew Bible in two components: the Mishna and Gemara. The Mishna was originally an old oral tradition Rabbi Yehuda HaNasi, or Rebbi, chronicled and redacted near 189 C.E. The canon of the Gemara, constructed from commentaries and discussions on the Mishna, was first recorded in written form about 1500 years ago. In addition to halacha (Jewish law), the Talmud details the beliefs of the Jewish people, their philosophy, traditions, culture, and folklore, i.e., the aggadah (homiletics). It is also replete with legal, ethical, and moral questions. The Midrash, a separate scripture, records the views of Talmudic sages and is mainly devoted to the exposition of Biblical verses. 1.2. Literature review, relevance of the topic, and interdisciplinary nature of research


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The Talmud includes extensive discussions of business ethics. This is not surprising given that more than a 100 of the 613 precepts in the Torah itself deal with the subject. Numerous books and papers examine Talmudic business ethics (for example, Friedman and Adler, 2011; Friedman and Klein, 2010; Friedman, 2000; Friedman, 1985; Friedman, 1984; Friedman, 1980; Gellis, Giladi, and Friedman, 2002; Kahaner, 2003; Levine, 2005; Levine, 1987; Tamari, 1995; Tamari, 1991; Tamari, 1987).

Talmudic ethics are extremely relevant even in today’s modern society. In fact, Friedman and Friedman argue that 2008’s Great Recession, responsible for destroying millions of jobs and trillions in assets, could have been avoided had the financial industry heeded the Talmud’s lessons (2009). This paper will reveal the secrets of business success as described in the Talmud.

The interdisciplinary nature of the present research is twofold. The basic aspect is known relation of religious texts as sources of business ethics principles and cases, while the additional aspect is the relation between principles and cases in the very religious text. 2. How to Become Wealthy Unlike the Christian Bible, which largely dismisses wealth, the Hebrew Bible and the Talmud’s attitude towards financial success are quite positive. From this viewpoint, wealth enables one to help others. God blesses those who use their wealth to help the poor (Deuteronomy 15:10; Isaiah 1:17-19; Proverbs 19:17). Wealth, peace, and/or long life are rewards from God for obeying His laws (Leviticus 26: 3-13; Deuteronomy 11: 13-16; Deuteronomy 25:15; Proverbs 22:4). According to the Talmud, when the High Priest left the Holy of Holies in the Temple on the Day of Atonement, the holiest day of the year, he prayed for a great deal of rain (Babylonian Talmud, Yuma 53b). In an agrarian society where rain is necessary for the fields, this prayer is tantamount to a prayer for the community’s financial success (Amsel, 1994: 188).

The Talmud (Babylonian Talmud, Taanis 9a) describes wealth as a reward from God. In wordplay on the verse (Deuteronomy 14: 22): “You shall surely tithe,” the Talmud advises that one should tithe in order to become rich (the Hebrew word “to tithe” is very similar to “to become rich”). The verse (Proverbs 11:24), “There is one who scatters and yet is given more” is interpreted as referring to one who spends his money on the needy. Wealth is seen as “comely to the righteous and comely to the world” (Babylonian Talmud, Avos 6:8), and affluent people who used their possessions to help others were respected by the Talmudic sages (Babylonian Talmud, Eruvin 86a).

The rabbis of the Talmud made it very clear that the punishment for refusing to help the poor or pay their due tithes was poverty (Babylonian Talmud, Temurah 16a; Midrash Tanchuma, Vayishlach 10; Sifri Deuteronomy 134). This is not surprising, as the Admonition describes horrific punishments for disobeying the laws of the Bible, which include drought, pestilence, famine, and loss of crops to the enemy (Leviticus 26; Deuteronomy 28: 15-69). Proverbs clearly states, “Honor the Lord with your wealth and with the first of all your produce; then your storehouses will be filled with plenty, and your vats will be bursting with wine” (3: 9-10).

In a story from the Talmud, Rabbi Yochanan ben Zakkai was once riding his donkey when he spotted a young impoverished girl so hungry she was reduced to


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picking barely grains from cattle dung (Babylonian Talmud, Kethuboth 66b). While conversing, it became clear she was Nakdimon ben Gorion’s daughter, one of the wealthiest people in Jerusalem. The girl reminded Rabbi Yohanan that he attended her wedding and signed her kethubah, a marriage contract specifying the amount of money a wife receives in case the husband dies or the marriage ends in divorce. Her kethubah was worth one million gold dinari from her father’s house even before the amount specified from her father-in-law’s house. Rabbi Yochanan asked what became of her family’s great wealth. She responded and that it was lost when the family had not been sufficiently charitable. The girl quoted a proverb popular in Jerusalem, “Salt (i.e., preserve) money by diminishing it”; in other words, “The more you give, the more you will have to give.” The Talmud goes on to say Nakdimon gave quite a bit to charity but since he was so wealthy, he should have given more. The words of the Talmud declare, “accordance with the camel, is the burden” (Babylonian Talmud, Kethuboth 67a). Thus, the secret of preserving wealth, according to the Talmud, is to be charitable.

The Talmud states rain falls for the sake of those honest in business dealings (Babylonian Talmud, Taanis 8a). Therefore, one can conclude, the punishment for dishonesty is drought. The Talmud derives this from a verse in Psalms, “Truth shall sprout out of the earth and righteousness shall look down from heaven” (85:12).

A story (Babylonian Talmud, Taanis 9b) that supports this view is the following. Ulla was from Israel but quite frequently traveled to Babylonia. Once, while in Babylonia, Ulla saw dark clouds gathered in the heavens. Certain it would rain, he asked some people to help bring his belongings inside. When the rain did not come, he said, “Just as the Babylonians lie, so too do their rains lie.” Ulla’s statement again connects dishonesty in everyday affairs with a lack of rain. In Ulla’s agrarian society a drought would devastate the economy. The Talmudic solution to economic security is honesty in all dealings.

In the Book of Ruth (Ruth 2:2-9), Boaz, a wealthy landowner, scrupulously observed the laws dealing with gleanings, one of several entitlements the Hebrew Bible allows the poor. Another, peah, was when a corner of a field was not harvested and left for the poor (Leviticus 19:9). Also, an owner was not permitted to return for a forgotten bundle of grain left in the field. This sheaf had to be left behind for the poor, “It shall be for the stranger, the orphan, and the widow” (Deuteronomy 24:19). Ruth was one of many poor people who followed the harvesters to collect the gleanings from Boaz’s fields.

The Book of Ruth begins with Elimelech, a wealthy landowner, who left his homeland, Israel, for Moab because of a famine. According to the Midrash, Elimelech realized the famine in Israel would result in an increased number of impoverished people and he did not want to have to provide them with assistance. The punishment for his indifference, according to the Talmudic sages, was financial ruin and death. In contrast, his kinsman Boaz stayed behind and prospered (Midrash Ruth Rabbah 1).

The Talmud states the key to becoming wealthy is honesty in business (Babylonian Talmud, Niddah 70b). This belief is noted in another tractate, “Heaven rewards people living in Israel who are strict about giving their tithes with great wealth” (Babylonian Talmud, Shabbos 119a). The Talmud also asserts people who properly honor the Sabbath are rewarded with great wealth (Babylonian Talmud, Shabbos 119a). The Talmud exhorts the public to “Let your fellow’s money be as precious to you as your own” (Babylonian Talmud, Avos 2:12). This is another way of stressing the importance of integrity in business and other matters. The Talmud


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also believes a leader or administrator only engaging in honest and dependable service within the community is divinely rewarded with wealth (Babylonian Talmud, Yuma 22b).

The Talmud also offers some practical advice on how to become wealthy, “Whoever inspects his property every day will find an istira (an ancient coin)” (Babylonian Talmud, Chullin 105a). An individual diligent in inspecting one’s property not only saves money but discovers problems that need to be corrected. This is similar to the proverb, “A stitch in time saves nine.” The Talmud notes Rav’s business advice to his son Aibu, which included the idea to "sell your wares while the sand is still on your feet" (Babylonian Talmud, Pesachim 113a) ― do not procrastinate. The idea of diversification ― dividing one’s assets into thirds: 1/3 in land, 1/3 in business, and 1/3 kept liquid ― is mentioned in the Talmud (Babylonian Talmud, Baba Metzia 42a). The Talmudists believed one who obtains wisdom will also become wealthy (Babylonian Talmud, Baba Bathra 25b). They understood the importance of education and knowledge in becoming wealthy, deriving this principle from the verse, “Long life is in her [i.e., wisdom’s] right hand; in her left hand are riches and honor” (Proverbs 3:16).

The Talmud also advises individuals and organizations to avoid extravagance (Babylonian Talmud, Pesachim 114a): “He who eats alitha (the fat tail) must hide in the alitha (attic); but he who eats kakule (cress/vegetables) may lie by the kikle (town circle).” The proverb involves wordplays but the lesson is quite simple. Lead a simple life and you do not have to hide from creditors. You can even lie by the town circle where everyone congregates. Some executives and businesspeople insist on having the most ostentatious offices, only traveling first class, and staying in the most expensive five-star hotels.

The Talmud stresses the importance of honest work. Rab once told Rabbi Kahana: Flay a carcass in the street and earn a wage and do not say, ‘I am a great person and this job is degrading to me’ (Babylonian Talmud, Baba Bathra, 110a). They suggested, “There is no occupation which can disappear from the world [i.e., all are useful and important] …The world requires both perfumers and tanners; fortunate is he whose occupation is that of a perfumer, and woe to him who works as a tanner” (Babylonian Talmud, Kiddushin 82b).

The Talmud recommends various occupations as a means to becoming successful. Rabbi Papa claimed he became wealthy by working as a beer brewer. He recommended the occupation because it allowed one to become affluent and charitable (Babylonian Talmud, Pesachim 113a). Rabbi Yochanan suggested raising small cattle would make one wealthy (Babylonian Talmud, Chullin 84a-b). Rabbi Meir said: “one should always teach his son a clean and easy occupation and pray to Him to whom all wealth and possessions belong” (Babylonian Talmud, Kiddushin 82a). Friedman (2001) summarizes the Talmudic view of the ideal occupation. He concludes that, according to the Talmud, the ideal occupation has the following characteristics:

(1) It provides an individual with time to pursue spiritual pursuits. (2) It does not tempt one to become dishonest or sexually immoral. (3) It allows one to help people and society. (4) It is profitable and enables one to become wealthy. (5) It is clean, pleasant, and dignified work. (6) It is not overly strenuous. The Talmud warned that occupations that cause one to become haughty,

sexually immoral, dishonest, and/or constantly engaged in strife should be avoided


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(Friedman, 2001). One can safely conclude companies should also avoid businesses that can lead to dishonesty, sexual immorality, strife, and arrogance. Desirable businesses help people and society, make a profit, and allow workers to engage in clean, pleasant, and dignified work. This may be why the Talmud states, “the best of doctors are destined for hell” (Babylonian Talmud, Kiddushin 82a). Though not against the profession, the Talmudists wanted to alert physicians to how easily they could cause harm, which could occur if a physician became interested in profit over the needs of the poor, or charging too high a fee.

It should be noted that the Talmudic sages worked at diverse occupations. They spoke not as theoreticians, but as people who understood what it meant to work for a living. For instance, Hillel was a woodchopper before he became the Nasi (President of the Sanhedrin) and Shammai the Elder was a builder. Abba Chilkiyah was a field laborer; Rabbi Yochanan b. Zakkai was a businessman for forty years; Abba Shaul a gravedigger; Abba Chilkiyah was a field worker; Abba Oshiya was a launderer; Rabbi Shimon P’kuli was a cotton dealer; Rabbi Shmuel b. Shilas a school teacher, Rabbi Meir and Rabi Chananel were scribes; Rabbi Yosi b. Chalafta was a tanner; Rabbi Yochanan HaSandlar a shoemaker; Rabbi Yehoshua b. Chananiah a blacksmith; Rabbi Safra and Rabbi Dimi of Nehardea were merchants; Rabbi Abba b. Zavina was a tailor; Rabbi Yosef b. Chiya and Rabbi Yannai owned vineyards; Rabbi Huna was a farmer who raised cattle; Rabbi Chisda and Rabbi Papa were beer brewers; Karna was a wine smeller (he determined which wine could be stored and which had to be sold immediately); Rabbi Chiya b. Yosef worked the salt business; Abba Bar Abba, (father of Mar Shmuel) was a silk merchant; and (Mar) Shmuel was a doctor.

Ahead of their time, the Talmudic sages recognized that wealth did not bring happiness. They asserted, “Who is wealthy? He who is happy with his lot” Babylonian Talmud, Avos 4:1). These sages knew expectations were a component to happiness. This is consistent with the findings of researchers working in the area of happiness (Stutzer, 2004; Senik, 2008). 3. Importance of Honesty in Business The following Talmudic statements demonstrate the importance of honesty: "Whoever conducts his business dealings honestly is liked by humankind and it is considered as though he observed the entire Torah." (Mechilta, Exodus 15:26) "The world endures on three principles: truth, justice, and peace." (Rabbi Shimon b. Gamliel, Babylonian Talmud, Avos 1:18) "One who wishes to become pious must be scrupulous in observing the laws dealing with damages and torts." (Rabbi Yehuda, Babylonian Talmud, Baba Kama 30a) "The first question an individual is asked in the afterlife at the final judgment is: 'Were you honest in your business dealings?'" (Babylonian Talmud, Shabbos 31a)

Obeying the strict letter of the law is not enough. Jerusalem was destroyed, according to the Talmud, for not doing more than the law required (Babylonian Talmud, Baba Metzia 30b). The Talmud uses the term “the way of the pious” to describe the highest form of ethical behavior. A businessperson who leads his or her life according to this standard would rather sacrifice time and money before exploiting another’s misfortune (Friedman, 1985). This is not dissimilar from old English law known as “equity.” Courts of equity, as compared to courts of common-law, dealt with the possible injustices that arose with strict application of traditional law.


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The Talmud frequently cites ethical principles to improve upon the law. The Biblical pronouncement (Deuteronomy 6:18), "Thou shalt do that which is right and good in the sight of the Lord,” is where the Talmud derives its tenet to strive for ethics beyond the requirements of the law. An example would be the right of pre emption where adjoining landowners are given the first right to buy a neighbor’s plot for sale. Similarly, one who acquired an abandoned estate by paying the land taxes could be forcibly removed if an adjoining neighbor intended to purchase it (Babylonian Talmud, Baba Metzia 108a).

A well-known principle in the Talmud states one may be legally compelled to not act "in the manner of Sodom." Sodom symbolizes an evil place that had to be destroyed by God. A person refusing to do a favor for another, even if it would cost him or her absolutely nothing, is considered as wicked as an ancient Sodomite. The Talmud would legally force a plaintiff into ethical action in any case where a benefit from an action costs them nothing. For example, upon dividing an estate between two heirs, two pieces of property become available. The first heir views both to be equal in value, while the other sees a definite advantage to owning a specific property (e.g., he may own an adjoining property). Since the first heir is indifferent to the property he receives, he can be forced to accede to the second party (Babylonian Talmud, Baba Bathra 12b). 4. Not Flaunting Wealth The Talmud frowns on the conspicuous display of excessive wealth as it can lead one to arrogance. A successful individual may come to believe “the might of [their] hand made them wealthy” (Deuteronomy 8: 11-18). The Bible states (Deuteronomy 32: 15) what can happen when the Jewish people overindulge in the pleasures of this world: "Jeshurun [Israel] became fat and kicked … And he forsook God who made him." Instead, one should remember that God gives wealth to individuals in order that they may do His will.

The Bible even states a king is not permitted to "greatly increase for himself silver and gold" (Deuteronomy 17:17). The reason is, "So that his heart does not become lifted above his brethren" (Deuteronomy 17:20). Ramban, a prominent medieval commentator, observes that if a king is expected to shun haughtiness, it should be shunned all the more by ordinary people. The king, however, is permitted to increase his wealth to help others (Sefer Hachinuch).

King Hezekiah was punished for flaunting his wealth in his treasuries to Merodakh-Baladan, son of Baladan, the King of Babylonia. Isaiah said to Hezekiah, "Behold, a time is coming when everything in your palace and what your forefathers have accumulated to this day will be carried off to Babylonia; nothing shall remain, says the Lord" (Isaiah 39:6). Hezekiah's sin was his pride and boastfulness in worldly possessions.

The prophet Micah (6:8) condensed the Bible into three major principles the Lord required of you- “only to do justice, to love acts of kindness, and to walk discreetly before your God" (Babylonian Talmud, Maakos 24a). “Walking discreetly” before God refers to funerals and weddings. The Talmud states, "If in matters that are generally not done in private the Bible says that one should 'walk discreetly,' how much more so in matters that usually call for modesty should certainly be done so." Clearly, moderation is important not only when making funerals and weddings, but in all situations. The Talmud urges all people, including businesspeople, to live frugally. God despises ostentation and living a showy life. This is also true of corporations.


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Executives should be humble; Gaudy, extravagant corporate headquarters are unnecessary. 5. Balancing the Needs of Society with the Need to Make a Profit The prophet Jeremiah asserted, "Woe to him who builds his house with unrighteousness and his upper stories with injustice ... But your eyes and your heart are only on your profit" (Jeremiah 22: 13, 17).

The Talmudic sages reacted strongly to those who took advantage of the public. Price stability was a grave concern then, just as it is today. In contrast to the modern conception of a shrewd businessman ― one who buys cheap, hoards his merchandise, and then sells it at the highest possible price ― the Talmud excoriated those who hoarded food in order to resell it at a higher price, tampered with weights and measures, practiced usury, and unjustly raised prices (Babylonian Talmud, Baba Bathra 90b). The Talmud praised Samuel’s father, an eminent and wealthy Talmudic sage, who insisted on selling his produce at low prices (the prices prevailing immediately after the harvest) and thereby kept the market price stable all year long (Babylonian Talmud, Baba Bathra 90b). Talmudic law concerning price markups for necessities was not permitted to exceed one-sixth of the total cost (Babylonian Talmud, Baba Bathra 90a).

When the price for a pair of doves, a necessity for certain sacrifices, reached a golden dinar, Rabbi Simeon ben Gamliel swore he would not rest until the price dropped to a silver dinar. He even went so far as to revise the law concerning sacrifices in order to reduce demand for these doves. The prices ultimately sank to one quarter of a silver dinar (Babylonian Talmud, Krithos 8a). 6. Employer-Employee Relations The Talmudic sages encouraged people to be conscientious workers. They taught four things that have to be industriously completed: Torah study, performance of good deeds, prayer, and performance of one’s occupation (Babylonian Talmud, Berachoth 32b). Whenever he went to the academy, Rabbi Yehudah would carry a pitcher on his shoulders and say, “Great is labor for it honors the worker” (Babylonian Talmud, Nedarim 49b). The Psalmist declares, “When you eat the labor of your hands, you shall be happy, and it shall be well with you” (128:2).

The Talmud exempted laborers from the Biblical obligation of standing up for elderly individuals and scholars while working (Babylonian Talmud, Kiddushin 33a). The following law, discussed in the Talmud (Babylonian Talmud, Berachos 16a), further demonstrates the importance of not wasting time that belongs to one’s employer. Laborers were permitted to recite various prayers while on top of a tree or on the top of a scaffold. The worker was not permitted to climb down the tree since it would waste time that belonged to the employer. The employer, on the other hand, was obligated to climb down the tree in order to recite the prayers with more feeling. One is obligated to perform religious obligations at one’s own expense, not at the expense of the employer.

The Talmud does not explicitly state how to encourage employees to work hard. However, Shulchan Aruch, the Talmudic-based code of Jewish law codified by Rabbi Joseph Karo (1488–1575), does provide some insights. Rabbi Karo explicitly states employees must work to the best of their abilities and should not waste time. They are not permitted to afflict themselves, starve themselves, or moonlight on a


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second job if it will affect their performance (Shulchan Aruch, Choshen Mishpat 337: 19-20).

The Bible requires employers treat slaves, the lowliest employees, humanely. “You shall not rule over him through rigorous labor,” the Bible states regarding slaves (Leviticus 25:43). Furthermore, the master was not permitted to make him perform debasing tasks (Leviticus 25:39), and he had to provide for the slave’s family (Leviticus 25:41). The Midrash provides examples of demeaning work which would be prohibited. In ancient times, a slave often followed his master with a chair, carried his master’s clothing to the bath house, and even put shoes on his master’s feet. These humiliating types of tasks were forbidden. One was also prohibited from asking his servant to perform unnecessary labor simply to assert one’s authority. In addition, work given to a slave depended on a defined limit. Thus, one was not permitted to order his servant to hoe underneath a grapevine for an indefinite time period. Degrading work, labor without purpose, or jobs with no definite time limit could demoralize a human being. Therefore these were prohibited for servants and certainly for employees (Sifra, Leviticus 25:39; Midrash Hagadol, Leviticus 25:39).

The Talmud (Babylonian Talmud, Kiddushin 22a) interprets the verse (Deuteronomy 15:16), “because he fares well with you” to mean the servant must have the same living standard as the master, “[the servant] must be equal to you in food and drink; you should not eat refined bread and he eat coarse bread, you [should not] drink old wine and he drink new wine, you [should not] sleep on a mattress and he on straw.” The Talmud concludes that one who procures a servant acquires a new master for himself! Many scholars have noted the rules applying to slaves would certainly apply to employees. Thus, treating employees poorly would be prohibited. 7. Stories and cases in the Talmud As noted above, the Talmud is considerably more than a code of Jewish law. It contains stories and cases that provide insights into proper ethical behavior. Three stories and three cases will be presented. 7.1. Story I In the first story, 400 barrels of Rabbi Huna’s wine mysteriously turned vinegary. Several sages told him to examine his deeds to see if there was a reason for this loss. Rabbi Huna was taken aback and said, “Do you suspect me of wrongdoing?” The sages did not think God would punish someone without cause. Accepting the sages’ view, he asked about any rumors of his wrongdoing. They said Rabbi Huna cheated his sharecropper’s due of grape vines. In Talmudic times, the sharecropper had a right to a portion of the grapes and also the vines. Rabbi Huna stated he believed the sharecropper actually cheated him by taking more than his due. The sages did not accept this explanation and told him this was an example of the popular saying, ‘Steal from a thief and you also feel the taste of stealing.’ In other words, Rabbi Huna’s wrongdoing was taking the law into his own hands by “stealing” the vines. It was irrelevant that he had a legitimate claim against the dishonest sharecropper. Rabbi Huna agreed to pay the sharecropper his due. Then, according to the Talmud, a miracle turned the vinegary wine sweet again. In another version, the price of vinegar rose to the equivalent of wine. Either ending demonstrates that one who acts ethically is successful, while those who commit injustice ― even one


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that can be rationalized ― may be punished by God (Babylonian Talmud, Berachos 5b). 7.2. Story II In the next story, Rabbi Chiya b. Ashi was visiting the home of a resident in the town of Laodicea. Servants brought a table of pure gold, so heavy it took 16 people to carry it. 16 silver chains were fastened to the table (possibly handles to carry it). It was filled with all kinds of delicacies and spices. When the servants set the table down, they recited the following verse, “The earth and its fullness belong to the Lord” (Psalms 24). Rabbi Chiya asked his host what he did to merit such great wealth. The host said he knew Rabbi Chiya to be a butcher who always set aside a very beautiful animal for the Sabbath meal. The story supports the opinion that people who honor the Sabbath merit great wealth (Babylonian Talmud, Shabbos 119a). It might also hint at another trait of this butcher. Psalm 24 also describes a person much like Rabbi Chiya, who leads a life of great integrity. It proclaims, “Who shall ascend the Lord’s mountain? And who shall stand in his holy place? He who has clean hands and a pure heart; he who has not lifted up his soul after vanity and has not sworn deceitfully.” 7.3. Story III In the last story, some negligent porters broke a barrel of wine belonging to Rabbah, the son of Rab Huna. Rabbah seized some of their garments as restitution. They lodged a complaint with his father who instructed Rabbah to return the clothes. Rabbah inquired, "Is that the law?" Somewhat cryptically, Rab answered, "that thou mayest walk in the way of good men," a quotation from Proverbs (2:20). When Rabbah promptly returned their clothes, the porters said, "We are poor men, have worked all day, and are in need. Are we to get nothing for our labors?" Rab did indeed tell Rabbah to pay the porters. Rabbah again inquired if the law demanded that he do so. Rab responded with the conclusion of the previous quotation from Proverbs. He told his son to "keep the path of the righteous." On purely legal grounds, the workers, being negligent, should not have been paid. The law even demanded they compensate Rabbah for his losses. However, Rab felt a good and righteous person must exceed the absolute boundaries of the law into the realm of ethics, even when dealing with an employee. The story is a good example of how the Talmudic sages urged their peers to go beyond the requirements of the law (Babylonian Talmud, Baba Metzia 83a). This is a good lesson for all organizations. Sometimes one has to go beyond the requirements of the law and take a loss if the victim is poor or in financial trouble. Hiring lawyers to protect the interests of the firm may not be appropriate in all situations.

Another Talmudic story illustrates the honesty of a day laborer. This individual was no ordinary person. He possessed the preternatural power to pray for rain during droughts and have these petitions immediately answered by God. What did he do to merit such a unique gift? Abba Chelkiya was known as a righteous man. During a serious drought, a committee sent to implore the use of his unique gift found the man hoeing in a field. Yet when they greeted him, Abba Chelkiya did not even turn to face them. Later in the evening, the committee questioned him about his strange behavior. He explained he had been hired for a day's work and did not want to waste time that was not his own (Babylonian Talmud, Taanis 23a).


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7.4. Case I: Rabbi Safra The case of Rabbi Safra's negotiation illustrates extremely ethical business behavior. Rabbi Safra is cited in Psalms (15:2) as one who "speaketh truth in his heart.” One day, while Rabbi Safra was in the midst of prayer, a man offered to buy some merchandise from him. Rabbi Safra was praying and could not respond. The prospective buyer mistakenly believed Rabbi Safra was holding out for more, and kept increasing his bid. When Rabbi Safra finished his prayer, he told the buyer he would sell the item at the original price. He "agreed in his heart" to this price and his silence was misconstrued (Babylonian Talmud, Maakos 24a). Rabbi Safra went well beyond the requirements of the law, holding himself to a very high standard of ethics. While ordinary people may not be able to abide by this standard, keeping one’s word might be a reasonable expectation. 7.5. Case II: Rabbi Simeon ben Shetah Another Talmudic figure, Rabbi Simeon ben Shetah, was an exemplar of someone who went beyond the requirements of the law. Rabbi Simeon ben Shetah purchased a donkey from an Arab. The rabbi’s disciples discovered a valuable jewel hanging from the donkey's neck, hidden from view. When they happily informed their teacher of this discovery, Rabbi Simeon ran back to the marketplace, found the Arab, and returned the jewel to him. The Arab thereupon blessed the Lord of Rabbi Simeon ben Shetah (Jerusalem Talmud, Baba Mezia 2:5). 7.6. Case III: Abba Abba was a bloodletter and surgeon held in great esteem by the Talmud for his exemplary business practices. His patients only paid what they could afford. They left the money in a box in an outside room so he could not see who paid and who had not. He did not want to embarrass the poor. His ability to maintain this system of payment indicated his patients, for the most part, must have been quite ethical as well. When a patient was clearly impoverished, Abba refused payment and, in addition, gave the patient money for food. He felt everyone should eat a very substantial meal after surgery (Babylonian Talmud, Taanis 21b). 8. Conclusion Hillel’s two most famous sayings are quintessential Talmudic views on how to live a life and conduct business:

"If I am not for myself, who will be for me? And if I only care for myself, what am I?" (Hillel, Babylonian Talmud, Avos 1:14)

"'What is hateful to you, do not do to your fellow human,' that is the whole Torah, the rest is commentary." (Hillel, Babylonian Talmud, Shabbos 31a) There is nothing wrong with making a profit. Indeed, a company should strive for

efficiency and reward stakeholders. However, it’s essential for the organization to conduct business in a way that does not harm others. A firm has a duty to be socially responsible. The Talmud cites the following verse as an ethical guide in conducting one’s life and business. The Psalm declares: God, Who may sojourn in Your tent? Who may dwell upon Your holy mountain? One who walks in total integrity, does


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what is right, and speaks truth from his heart. One who has no slander on his tongue, who has done his fellow human no evil nor cast disgrace upon his close one... Whoever does these things shall never falter. (Psalm 15) It is important for both individuals and businesses to walk in “total integrity” and remain blameless to their fellow humans. Ultimately, organizations wishing to truly thrive must be honest and committed to the well-being of society. References Amsel N. 1994 The Jewish encyclopedia of moral and ethical issues, Northvale, NJ: Jason Aronson Inc. Fish I. S. 2010, December 29 Selling the Talmud as a business guide, Newsweek, Retrieved from http://www.newsweek.com/2010/12/29/in-china-pushing-the-talmud-asa-business-guide.html Friedman H. H. and Adler W. D. 2011 Moral capitalism: A biblical perspective. American Journal of Economics and Sociology, 1014-1028. Friedman H.H. and Klein Y. 2010 Respect for God's world: The biblical and rabbinic foundations of Environmentalism, International Journal of Business and Globalisation 4(2) pp. 129-200. Friedman H. H. and Friedman, L. W. 2009 The financial meltdown of 2008: The perspective of Jewish Law, Jewish Law, Retrieved from http://jlaw.com/Commentary/FinancialMeltdownTORAHVIEW_Jun17.pdf. Friedman H. H. 2001 Ideal occupations: The Talmudic perspective, Jewish Law, Retrieved from http://www.jlaw.com/Articles/idealoccupa.html. Friedman H. H. 2000 Biblical foundations of business ethics, Journal of Markets & orality, 3(1), pp. 43-57. Friedman H. H. 1985 Ethical behavior in business: A hierarchical approach from the Talmud, Journal of Business Ethics, 4, pp. 117-129. Friedman H. H. 1984 Ancient marketing practices: The view from Talmudic times, Journal of Public Policy and Marketing, Vol. 3, 1984, pp. 194-204. Friedman H. H. 1980 Talmudic business ethics: An historical perspective, Akron Business and Economic Review, 11, pp. 45-49. Gellis H., Giladi K. and Friedman H. H. 2002 Biblical and Talmudic basis of accounting ethics, CPA Journal, September, pp. 11-13. Kahaner L. 2003 Values, prosperity, and the Talmud, Hoboken, NJ: John Wiley & Sons. Levine A. 2005 Moral issues in the marketplace in Jewish law, New York, Yashar Books. Levine A. 1987 Economics & Jewish law, New York, Ktav Publishing. Senik C. 2008 Is man doomed to progress? Journal of Economic Behavior and Organization, 68, pp. 140-152. Stutzer A. 2004 The role of income aspirations in individual happiness, Journal of Economic Behavior and Organization, 54(1), pp. 89-109. Tamari M. 1995 The challenge of wealth, Northvale, NJ: Jason Aronson Inc. Tamari M. 1991 In the marketplace: Jewish business ethics, Southfield, MI: Targum Press. Tamari M. 1987 With all your possessions: Jewish ethics and economic life, New York, The Free Press.

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