When Politicians Condemn the Evils of Finance, Even Jewish Leftists Should Be Wary

In an essay published this summer outlining portions of her economic program, the senator and presidential candidate Elizabeth Warren wrote that “far too often, the private-equity firms are like vampires—bleeding the company dry and walking away enriched even as the company succumbs.” Elyse Wien, although admittedly sympathetic to Warren’s politics, detects a sinister note:

Warren shows no evidence of being . . . an anti-Semite, but she does seem to be a party to the left’s growing reliance on outrage in their search for a bogeyman in the financial elite—a search that invariably appeals to conspiracy theorists and anti-Semites. . . . [I]t’s necessary to step back and examine the roots of the left’s contempt for finance when that contempt extends beyond the specifics of policy to the nature of finance itself. The idea that finance is “vampiric,” that it feeds off the honest productivity of hard workers to extract unmerited earnings, is a sentiment that has direct roots in a long history of anti-Semitism.

The idea that money derived from finance is parasitic because it is not from “productive” labor was developed by medieval Christian natural-law theology but has even older origins in the work of Aristotle. . . . While the political radicals of the 19th century did not explicitly extol natural-law theology, . . . they nevertheless betrayed the influence [of medieval economic thinking] in their emotionally charged distinction between productive and parasitic labor, and the particular vitriol they showed toward both finance and Jews.

For [19th-century] anti-Semites of both the left and right, . . . the political emancipation of Jews was, [to paraphrase Karl Marx], the result of turning the world “Jewish”; the Jews’ freedom was purchased through the immiseration of others. The template created by Marx and other 19th-century thinkers who connected their opposition to finance and capitalism with the purported “Jewishness” of those practices would proliferate in subsequent decades, taking root in cultures outside Europe, as financial capitalism also spread across the globe.

William Jennings Bryan’s 1897 “Cross of Gold” speech is a classic of 19th-century American populism, yet the historian Richard Hofstadter notes . . . that perhaps nothing did more to reinvigorate American anti-Semitism than the frequent allegations that the “Shylocks” and “Rothschilds” controlled the banks that controlled the farms.

Read more at Tablet

More about: Anti-Semitism, Aristotle, Elizabeth Warren, Finance, Socialism


Iran’s Options for Revenge on Israel

On April 1, an Israeli airstrike on Damascus killed three Iranian generals, one of whom was the seniormost Iranian commander in the region. The IDF has been targeting Iranian personnel and weaponry in Syria for over a decade, but the killing of such a high-ranking figure raises the stakes significantly. In the past several days, Israelis have received a number of warnings both from the press and from the home-front command to ready themselves for retaliatory attacks. Jonathan Spyer considers what shape that attack might take:

Tehran has essentially four broad options. It could hit an Israeli or Jewish facility overseas using either Iranian state forces (option one), or proxies (option two). . . . Then there’s the third option: Tehran could also direct its proxies to strike Israel directly. . . . Finally, Iran could strike Israeli soil directly (option four). It is the riskiest option for Tehran, and would be likely to precipitate open war between the regime and Israel.

Tehran will consider all four options carefully. It has failed to retaliate in kind for a number of high-profile assassinations of its operatives in recent years. . . . A failure to respond, or staging too small a response, risks conveying a message of weakness. Iran usually favors using proxies over staging direct attacks. In an unkind formulation common in Israel, Tehran is prepared to “fight to the last Arab.”

Read more at Spectator

More about: Iran, Israeli Security, Syria