First off, I should disclose that I’m not Jewish so I don’t have an in depth understanding of the faith. I apologize in advance if I get the concepts wrong.
That said, having read many, many, many finance books, I find that Jewish authors like Rabbi Nilton Bonder, author of The Kabbalah Of Money, have some of the best advice on investing in an ethical, non-harmful to rest of the world, way.
One concept heavily promoted is that of win-win or win-not lose. Bonder states that it “is the duty of every one of us to expand wealth – and not only our own – into the world around us.” To do that, we need to build abundance without causing a scarcity.
For example, he differentiates between fair lending and lending as a form of “theft.” Lending to someone who can afford to repay at terms in tune with the market is fair.
(and right as money is meant to circulate)
Lending to someone who can not repay (causing the person more stress and unhappiness) or at a rate gouging the desperate is a form of theft.
(There’s also the fascinating concept of zero interest loans given to people who are poor but will eventually be able to repay the principal – a form of hand up, rather than hand out and similar to the microcredit concept in developing countries).
But why build abundance?
Because building abundance not only creates a better world but also frees up time to spend on spiritual (and charitable) pursuits. I don’t know about you but I would find it difficult to meditate and find my inner peace if creditors were calling every five minutes. And E and I couldn’t contribute to this blog if we were working five jobs to cover credit card debt.