The Common Insights of Economics and Judaism

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.)

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Read more at Tikvah

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

Thoughts on Yitzhak Rabin’s Assassination, a Quarter-Century On

On the Jewish calendar, today is the 25th anniversary of Prime Minister Yitzḥak Rabin’s assassination at the hands of a fellow Jewish Israeli. Rabin, after a long and impressive career in the military and in politics, had not long beforehand signed the Oslo Accords, and was murdered by a zealous opponent of that decision. Reflecting on the occasion, David Horovitz writes:

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Read more at Times of Israel

More about: Israeli politics, Oslo Accords, Yitzhak Rabin