Levi Brackman's

Friday, 15 May 2009 10:32 - The Torahs Wisdom for Financial Markets

Fri, 15 May 2009 17:32:07 +0100

In Israel people borrow money from banks differently than they do elsewhere in the world. It is called a Heter Iska where any loan is structured so that the lender becomes an investor rather than as a usurer. This provision is to avoid transgressing the law, found in this weeks’ Torah portion, against usury.

Sunday, 22 March 2009 09:24 - My comments published in the New York Times

Sun, 22 Mar 2009 16:24:54 +0100

On Thursday I received a call from Alan Salkin a reporter at the New York Times. He asked for my thoughts on the anger that existed towards the AIG employees who received bonuses. My comments appeared in today’s New York Times and can be read here http://www.nytimes.com/2009/03/22/fashion/22anger.html?_r=1

Friday, 20 March 2009 01:34 - Are Americans becoming too envious and losing their morals?

Fri, 20 Mar 2009 08:34:42 +0100

The great Jewish philosopher Maimonides wrote that a person who has suffered misfortune feels less miserable when confronted by a person in a more calamitous situation than themselves. Similarly when a dejected person sees someone who is more privileged than them their sense of despondency is increased. People who are unsuccessful find it difficult to observe the success of others. Our challenge is to overcome this negative envious trait and be happy for others even if we personally are experiencing setbacks.

Americans, on the whole, have failed in rising to this challenge. Last summer, as oil prices rose, oil companies made record profits. As the profits went up so did the envy and ire of the American people. In response prominent politicians berated the oil companies and threatened to tax them heavily. But things have now become much worse.

Friday, 06 March 2009 09:38 - An Economic Prediction from the Story of Purim

Fri, 06 Mar 2009 16:38:05 +0100

The story of Purim contains a universal truth that is especially relevant today: intense hubris is always followed by a downturn and intense contrition precedes an upturn.

The trends found in the story of Purim should be familiar to us especially this year. At the beginning of the Purim story things are relatively good for the Jews. They were in good standing with the government and their leader Mordechai had a high ranking position in the king’s court. They were invited to the royal party despite Mordechai’s call for them not to. The Jews felt powerful and secure as good citizens of the Persian Empire. They could not have been more wrong.

Friday, 20 February 2009 01:31 - Society must recover first; the economy will follow

Fri, 20 Feb 2009 08:31:14 +0100