The Common Insights of Economics and Judaism

April 2 2018

In his 1974 lecture upon receiving the Nobel Prize, the Austrian economist and political philosopher Friedrich Hayek expounded on the problem posed by what he termed “the pretense of knowledge.” To Hayek, economists and policymakers often go astray when they presume to have far more knowledge than they do, or even than they could possibly have. This insistence on intellectual humility shares much, according to the economist Russ Roberts, with Judaism’s. Furthermore, explains Roberts, one finds in the Talmud statements that very much reflect modern economic theories of specialization, and the development of halakhah itself in some ways mirrors the Hayekian notion of “emergent order.” (Interview by Jonathan Silver. Audio, 52 minutes.)

Read more at Tikvah

More about: Economics, F. A. Hayek, History & Ideas, Judaism, Religion & Holidays

Libya Gave Up Its Nuclear Aspirations Completely. Can Iran Be Induced to Do the Same?

April 18 2025

In 2003, the Libyan dictator Muammar Gaddafi, spooked by the American display of might in Iraq, decided to destroy or surrender his entire nuclear program. Informed observers have suggested that the deal he made with the U.S. should serve as a model for any agreement with Iran. Robert Joseph provides some useful background:

Gaddafi had convinced himself that Libya would be next on the U.S. target list after Iraq. There was no reason or need to threaten Libya with bombing as Gaddafi was quick to tell almost every visitor that he did not want to be Saddam Hussein. The images of Saddam being pulled from his spider hole . . . played on his mind.

President Bush’s goal was to have Libya serve as an alternative model to Iraq. Instead of war, proliferators would give up their nuclear programs in exchange for relief from economic and political sanctions.

Any outcome that permits Iran to enrich uranium at any level will fail the one standard that President Trump has established: Iran will not be allowed to have a nuclear weapon. Limiting enrichment even to low levels will allow Iran to break out of the agreement at any time, no matter what the agreement says.

Iran is not a normal government that observes the rules of international behavior or fair “dealmaking.” This is a regime that relies on regional terror and brutal repression of its citizens to stay in power. It has a long history of using negotiations to expand its nuclear program. Its negotiating tactics are clear: extend the negotiations as long as possible and meet any concession with more demands.

Read more at Washington Times

More about: Iran nuclear program, Iraq war, Libya, U.S. Foreign policy