Introduction
Print this article

This column will look at Halachic issues from an economic mindset. This is not the same thing as a column that would look at economic issues from a Halachic mindset. This is not a column on money issues in Halacha. Economics, in practice, is a key to good money management, but behind the pragmatics of economics is the theoretical, the ideological, the scientific process of economics, and it stems from a very unique and focused outlook on society and decision-making. Most significantly, it provides a coherent and effective language for investigation. In this column, economic methodology will be used to analyze topics in Halacha. Read Full Article

Insurance
Print this article

An ox, belonging to Reuven, gores an ox belonging to Shimon. What happens if Reuven had purchased insurance to cover the damage done by his ox? Reuven’s insurance company will compensate Shimon for the damage he has suffered. Is Reuven excused from any further compensation? Read Full Article

Cost/Benefit Analysis: Sin and Mitzvah
Print this article

As can be attested by almost anyone who has tasted stolen chocolate, crime does pay. This is not only a matter of perspective—it is not simply that we, as humans, perceive gain where, in fact, as God knows, there is none. There is gain. To some, this gain is morally unacceptable. Sin should, according to such an opinion, be devoid of benefit. But to an economist, awareness of benefit without awareness of cost is insufficient. Read Full Article

Repentance and Preferences
Print this article

If we act exclusively according to our own best interests, we sin when it appears to be beneficial to sin and stop sinning when it no longer seems beneficial. If a person sins today and no longer sins tomorrow it is either because the (perceived) world changed (external factors were modified) or because his/her preferences were altered (internal factors were modified) or due to a combination of these factors. Read Full Article