This post is part of a weekly series on the Nishmablog presenting the questions to which he responded and the answers that he gave.
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Question: Please explain the prohibition that a Jew should not charge a Jew interest on a loan and the practicality of this prohibition in a modern world.
Rabbi Wolpoe's Answer
Let's divide this into 3 parts
"Please explain the prohibition.."
A: From an Orthodox perspective this is a command from Divine Torah, and we can never be certain of its definitive reason or reasons.
Nevertheless, we have a rich literature that does offer several rationales - EG see Sources Below esp. Hinuch 66-68
Q: "...a Jew should not charge a Jew interest on a loan.."
A: The Torah says we may charge a Gentile interest - apparently because they charge US interest
We must recall that the Torah presumed a Nation-State of Israel that consisted of mostly Jews and the Quasi-Convert known as a "Ger Toshav". Our exilic experience has called for some modfications from that ideal.
My own personal philosophy is based upon a simple economic principle [pun intended] - namely that the entire people of Israel are construed as family and therefore we act in a co-operative manner. That implies helping out our brothers and sisters with interest free loans.
I'm guessing - at least until the advent of the Messiah - that we do not construe Gentiles as part of this family, though of course they may join us of their own free will.
Note: It remains a gray area. Do we charge Gentiles interest as a form of reciprocity, or because they fail to be have close enough "kinship"?
Q: "...and the practicality of this prohibition in a modern world."
A Rabbinic literature seems to construe the "interst-free loan" as support for family needs. Therefore, when a business loan is needed, a "workaround" or cicumvention has been formulated, that is a "heter iska" or a permit for business
Usually mortgage loans are included as "business loans"
In order to make modern commerce possible, there is a moderate loophole that would afford a Jew to lend and borrow from a fellow Jew.
Another "loophole" would be to emply a Gentile as a middleman. Thus Abraham would lend to John who then in turn would lend to Isaac. Don't try this by yourself at home - without rabbinical supervision! :-)
Summary:
There is often a natural tension between Torah ideals and pragmatic reality. In Traditional Torah Judaism, rabbis usually have tried to steer a middle course in avoiding either extreme.
Shalom
RRW
Sources:
For the Torah Point of View see -
Torah -
Parshat . Mishpatim
Ex. 22:24-26
Parshat. R'eih
Deut. 14:22 - 15:18
See Rashi on Both Sections.
Also
See Sefer HaChinuch
66-68, 475-482
For Practical Laws and Customs -
Kitzur Shulchan Aruch
Chapters 33 & 34,
Also 179-189 esp. 179 & 180
"Please explain the prohibition.."
A: From an Orthodox perspective this is a command from Divine Torah, and we can never be certain of its definitive reason or reasons.
Nevertheless, we have a rich literature that does offer several rationales - EG see Sources Below esp. Hinuch 66-68
Q: "...a Jew should not charge a Jew interest on a loan.."
A: The Torah says we may charge a Gentile interest - apparently because they charge US interest
We must recall that the Torah presumed a Nation-State of Israel that consisted of mostly Jews and the Quasi-Convert known as a "Ger Toshav". Our exilic experience has called for some modfications from that ideal.
My own personal philosophy is based upon a simple economic principle [pun intended] - namely that the entire people of Israel are construed as family and therefore we act in a co-operative manner. That implies helping out our brothers and sisters with interest free loans.
I'm guessing - at least until the advent of the Messiah - that we do not construe Gentiles as part of this family, though of course they may join us of their own free will.
Note: It remains a gray area. Do we charge Gentiles interest as a form of reciprocity, or because they fail to be have close enough "kinship"?
Q: "...and the practicality of this prohibition in a modern world."
A Rabbinic literature seems to construe the "interst-free loan" as support for family needs. Therefore, when a business loan is needed, a "workaround" or cicumvention has been formulated, that is a "heter iska" or a permit for business
Usually mortgage loans are included as "business loans"
In order to make modern commerce possible, there is a moderate loophole that would afford a Jew to lend and borrow from a fellow Jew.
Another "loophole" would be to emply a Gentile as a middleman. Thus Abraham would lend to John who then in turn would lend to Isaac. Don't try this by yourself at home - without rabbinical supervision! :-)
Summary:
There is often a natural tension between Torah ideals and pragmatic reality. In Traditional Torah Judaism, rabbis usually have tried to steer a middle course in avoiding either extreme.
Shalom
RRW
Sources:
For the Torah Point of View see -
Torah -
Parshat . Mishpatim
Ex. 22:24-26
Parshat. R'eih
Deut. 14:22 - 15:18
See Rashi on Both Sections.
Also
See Sefer HaChinuch
66-68, 475-482
For Practical Laws and Customs -
Kitzur Shulchan Aruch
Chapters 33 & 34,
Also 179-189 esp. 179 & 180
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