I. Self-Interest and Capitalism
The theoretical basis for the economic system of Capitalism is self-interest, another term for greed. Those who devalue greed, who view the accumulation of wealth as a vice, necessarily see Capitalism as a system based on sin. It may currently be the best economic system but it is nevertheless a method for succeeding by strengthening one’s evil inclination. The question remains whether greed is good according to Jewish sources. This past September, I participated in a rabbinic symposium on culture, religion and the marketplace sponsored by the Tikvah Foundation which got me thinking once again whether Capitalism is based on a sinful attitude.
Let us first note that the terms “self-interest” or “greed” often have a negative connotation, implying excessive desire for money. However, that is not what I mean here. When I use the words, I mean a desire that is not necessarily excessive nor unduly selfish. Most of us would consider it a natural desire. If you have a choice between receiving payment of $10 or $15 for the same task, a person influenced by what I am calling greed will choose the higher fee. What is
