July 24, 2008 Rabbi Berel Wein: On the road again --- and again and again Richard Z. Chesnoff: Mideast Refugees --- Failure vs. Success JWisdom:: Word power is about more than vocabulary by Rabbi Sroy Levitansky July 23, 2008 Jonathan Tobin: The Mufti of Jerusalem's Nazi ideology lives on among contemporary Islamists The Kosher Gourmet by Joe Gray: Smoked paprika turkey meatballs simmered in red wine and tomato sauce JWisdom:: 'Routine' doesn't need to mean ‘rote’ By Rabbi David Aaron July 22, 2008 Yossi Klein Halevi: Dear Barack Obama Elliot B. Gertel: Eli Stone: Self-indulgent, arrogant corporate attorney as modern-day prophet JWisdom:: Three Weeks - Nine Days - One Purpose by Rabbi Mordechai Becher July 21, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir: Spending your kids' money Mitch Albom: A grim exchange illustrates a key difference JWisdom:: The Holocaust in the Perspective of Faith: Hammered on the Anvil --- Severed by the Sickle by Rabbi Nosson Scherman July 18, 2008 Rabbi Nathan Lopes Cardozo: The Sanctification and Importance of Time Caroline B. Glick: US wants it absolutely clear it has no intention of attacking Iran's nuclear installations Mona Charen: What can you say about a people who welcome a child murderer as a hero? JWisdom:: Living a dog's life, dawg? by Rabbi Dovid Gross July 17, 2008 Steven Emerson: Deals with devils Libby Lazewnik: One Step at a Time JWisdom:: Leader the follower? by Rabbi Sroy Levitansky July 16, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir: Poaching humans The Kosher Gourmet by Linda Gassenheimer: Meaty pasta salad with summer berries perfect for warm evenings JWisdom:: Keeping A Secret by Rabbi Mordechai Becher July 15, 2008 Dennis Prager: False Equation: Opposing Same-Sex Marriage and Opposing Interracial Marriage Joel Greenberg: Researchers look to Israeli circumcision program to help combat AIDS 'Alternatives' to Logic Won't Work JWisdom:: Re-Jew-venating prayer, Part V: Why Judaism ISN'T Spiritual by Rabbi David Aaron July 14, 2008 Jonathan Rosenblum: A warning from Canada to those who value life Jonathan Tobin: 'Alternatives' to Logic Won't Work JWisdom:: Holocaust in the Perspective of Faith by Rabbi Nosson Scherman: Poland's Unique Antisemitism, Part II July 11, 2008 Rabbi Francis Nataf: It's hard to be humble when you're great Caroline B. Glick: A tale of two hostages JWisdom:: Profane for Prophet by Rabbi Sroy Levitansky July 8, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir: Q. Duty to save gullible from themselves? Frank J. Gaffney, Jr.: Islamists have the West just where they want us JWisdom:: Putting the Spirit Back into Spirituality, Part 3: The Fully Loaded Human Being by Rabbi Dovid Gross July 3, 2008 Rabbi Dr. Abraham J. Twerski: A spiritual budget (TOUCHING!) Jeff Jacoby: Israel still paying for its defeat JWisdom:: Re-Jew-venating prayer, Part IV by Rabbi David Aaron JWisdom:: The Moses Method by Rabbi Sroy Levitansky July 2, 2008 Jonathan Tobin: Appeasers Make Poor Patriots The Kosher Gourmet By Kathleen Purvis: Slaw, y'all: For BBQs or Sabbath dinner, these southern recipes are something else! JWisdom:: Rabbi Mordechai Becher: Jewish Rx for A Simpler Life July 1, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir: Q. I think it's important to leave a legacy to my children. How much should I save towards this end? Paul Greenberg:A President who is history deficient? JWisdom:: Holocaust in the Perspective of Faith by Rabbi Nosson Scherman: Poland's Unique Antisemitism June 30, 2008 Jonathan Rosenblum: Remembering the architect of Torah Judaism for the modern world Abe Novick: Hulk: Still a Jew? JWisdom: : Putting the Spirit Back into Spirituality, Part 2: The Abandoned Child June 26, 2008 Rabbi Abraham J. Twerski: Quantum leap to evil Caroline B. Glick: Victimized families must not be allowed to dictate policy June 25, 2008 Rabbi Yonason Goldson: Today in Biblical History: King Jeroboam of Israel prevents pilgrimage to Jerusalem Jonathan Tobin: Real Friends and Real Enemies JWisdom: Raping of reason By Rabbi Sroy Levitansky June 25, 2008 Steven Emerson: Kristof: Never Mind the Terrorists Stratfor Intelligence Briefing: Mediterranean Flyover: Telegraphing an Israeli Punch? JWisdom: Rabbi David Aaron: Re-Jew-venating prayer, Part III June 24, 2008 Caroline B. Glick: What were they thinking!? Frank J. Gaffney, Jr.: Guilty knowledge JWisdom: Holocaust in the Perspective of Faith by Rabbi Nosson Scherman: Warping Innocence June 23, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir: Diploma dilemma Jeff Jacoby: A world without children JWisdom: Rabbi Dovid Gross: Putting the Spirit Back into Spirituality --- Introduction June 20, 2008 Rabbi A. Henach Leibowitz: Man: The Crowning Glory of Creation Caroline B. Glick: Israel's darkest week JWisdom: We aren't worthy? by Rabbi Sroy Levitansky June 19, 2008 Rabbi Elazar Meisels: The saints who don't come marchin' in Chris Christoff: Muslim woman demands an apology from Obama after camera snub June 18, 2008 Jonathan Tobin: Still Dancing Around Jerusalem The Kosher Gourmet by Steve Petusevsky: Chilled fruit and vegetable soups JWisdom: Souls Need A Check Up? by Rabbi Mordechai Becher June 17, 2008 Rabbi Avi Shafran: Baby Einstein Caroline B. Glick: Bush's rhetoric, Bush's policies JWisdom: Re-Jew-venating prayer, Part II by Rabbi David Aaron June 16, 2008 Varda Branfman: Bob Dylan, won't you please come home? Diana West: Academic dares to question the 'religion of peace' JWisdom: Holocaust in the Perspective of Faith by Rabbi Nosson Scherman: Positive Backfire March 22, 2007 J-Rhythms with Avraham Rosenblum: JWR's cutting-edge music program showcasing performers -- singers, song writers, musicians, and bands -- who learn and live the Torah lifestyle (OUR NEWEST IGODCAST !) Oct. 29, 2003 Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)

Jewish World Review Feb. 26, 2008 / 20 Adar I 5768 Impatience + Greed = Trouble By Paul Johnson http://www.JewishWorldReview.com | When markets enter a period of turbulence observers moralize about the frailties of human nature that are responsible for the upset. This ignores the fact that markets require corrections, even violent ones, from time to time. They themselves reflect human nature and must, over a period, hold the balance between optimism and pessimism. All the same, markets are determined by moral strengths and weaknesses, and it is useful to identify what those are at each major episode. The state of the present market is the consequence of undue impatience combined with excessive greed. Impatience led many thousands of ordinary people to seek to acquire properties of much higher value than their savings justified. They thus sought to borrow collectively immense sums that they could not hope to repay for many years — and, in some cases, ever. As a rule, this would not be a problem; banks and other loan agencies should simply have turned down such borrowers. The borrowers would then have had to contain their impatience until their savings accumulated to a level at which they could borrow prudently. Unfortunately, impatience coincided with excessive greed on the part of a number of bankers. Many of the world's top bankers lead highly competitive, high-spending lifestyles and are tempted to increase turnover — thus increasing their salaries and bonuses — through generous lending. The consequences of this behavior could be catastrophic. Is More Legislation Needed? Certainly not. All powerful human impulses are constructive as well as destructive. Impatience is an interesting case in point. The desire to get on, not slowly and patiently, but to get whatever it is one wants and have it now is a form of human eagerness that creates dynamism. If all people were models of patience, content with their lot and not eager for change, we'd still be living in primitive hunter-gatherer societies. Economic progress is created when vigorous impatience is combined with existing ways of doing things. All periods of rapid advance, such as the Renaissance and the Industrial Revolution, have been marked by impatience. Thomas Edison was a notoriously impatient man, as was James Watt, who greatly improved the Newcomen steam engine by adding a separate condenser. Some of the most useful inventions are symbols of furious impatience: The zipper grew out of an impatience with buttons; safety razors, with the old cutthroat razors. Without impatience bankers would just be static strongboxes for storing cash. There's nothing wrong with the vast majority of ordinary people being impatient to have better houses. Impatience becomes dangerous only when it parts company with reality. People who borrow money in amounts they cannot reasonably hope to repay in their lifetimes are dangerous to the whole principle of credit — and should be disciplined by the banks. This, of course, is where greed on the part of the bankers — encouraging excessive impatience — turns a dynamic force into a highly destructive one. Indeed, it's hard to think of a more dangerous combination than an overimpatient borrower and a too greedy lender. Notice I write of "too greedy." I risk censure by the absolute moralists by pointing out that greed, in an economic sense, is not necessarily or always evil and harmful. Economic growth is not possible without a certain amount — usually a great deal — of greed, any more than it's possible without impatience. Greed is merely a harsh word for what, in objective terms, we call the acquisitive instinct. This desire to amass quantities of money or goods lies at the heart of capitalism and, thus, at the heart of any expanding economy. Acquisition is beneficial so long as what is acquired is put to constructive use and not just hoarded. All energetic men and women are greedy to some extent. Expending their energies on systematic acquisition is one way of preventing the energy from going into more nefarious activities. As Samuel Johnson put it: "There are few ways in which a man can be more innocently employed than in getting [i.e., accumulating] money." Keynes put it another way: "It is better that a man should tyrannize over his bank balance than over his fellow-citizens." What's important is that the greed be combined with the desire to render a service or supply useful products to society. Capitalism is the most reliable source of modern progress precisely because when it functions at its best it combines the realism of acquisition (or greed) with the idealism of serving the public. So let's not despise impatience and greed. Some measure of both is necessary for the economic system to function well and for progress to advance. What we must beware of is unrestrained impatience and excessive greed — each fueling the other. At the center of any financial system there have to be powerful individuals and bodies that can detect these excesses and take action to control them. That's the job of those who run the reserve banks. They must be moralists as well as financiers — able to smell the sin of intemperance, to come down hard on it and in time. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. BUY THE BOOK Click HERE to purchase it at a discount. (Sales help fund JWR.). Eminent British historian and author Paul Johnson's latest book is "American Presidents Eminent Lives Boxed Set: George Washington, Thomas Jefferson, Ulysses S. Grant". Comment by clicking here. Previously: 02/13/08: Shakespeare, Neo-Platonism and Princess Diana 02/07/08: Where Industry Has Failed Us 12/19/07: People who put their trust in human power delude themselves 12/12/07: What is aggression? 12/04/07: Pursuing success is not enough 11/07/07: Are famous writers accident-prone? 10/31/07: Courage needed to disarm Iran 09/20/07: Who Will Say ‘I Promise to Lay Off’? 07/24/07: Greed is safer than power-seeking 04/02/07: Benefactors must be hardheaded 03/07/07: American idealism and realpolitik 11/28/06: Space: Our ticket to survival 10/24/06: Envy is bad economics 10/11/06: Better to Borrow or Lend? Rethinking conventional wisdom 08/22/06: Don't practice legal terrorism 08/08/06: A summer rhapsody for a pedal-bike 08/03/06: Why is there no workable philosophy of music? 07/11/06: Historically speaking, energy crisis is America's opportunity 07/06/06: The misleading dimensions of persons and lives 06/06/06: First editions are not gold 05/23/06: A downright ugly man need never despair of attracting women, even pretty ones 04/25/06: Was Washington right about political parties? 04/12/06: Let's Have More Babies! 04/05/06: For the love of trains 03/29/06: Lincoln and the Compensation Culture 03/22/06: Bottle-beauties and the globalised blond beast 03/15/06: Europe's utopian hangover 03/08/06: Kindly write on only one side of the paper 02/28/06: Creators versus critics 02/21/06: The Rhino Principle © 2006, Paul Johnson

Mitch Albom  Michael Barone   Dave Barry  Tony Blankley  Andy Borowitz  David Broder  Stratfor Briefing  Mona Charen  Linda Chavez  Ann Coulter  Greg Crosby  Rod Dreher  Larry Elder  Suzanne Fields  John Fund  Frank J. Gaffney  Lloyd Garver  Jonah Goldberg  Michael Goodwin  Julia Gorin  Jonathan Gurwitz  Paul Greenberg  Victor Davis Hanson  Betsy Hart  Nat Hentoff  David Horowitz  Laura Ingraham  Jeff Jacoby  Paul Johnson  Jack Kelly  James Klurfeld  Ed Koch  Ch. Krauthammer  Jonathan Last  Michael Ledeen  John Leo  David Limbaugh  Kathryn Lopez  Rich Lowry  Michelle Malkin  Jackie Mason  The Medicine Men  Dick Morris  Bill O'Reilly  Clarence Page  Kathleen Parker  Dennis Prager  Wesley Pruden  Tom Purcell  Jonathan Rauch  Celia Rivenbark  Robert Robb  Cokie & Steve Roberts  Pat Sajak  Debra J. Saunders  Culture Shlock  Roger Simon  Michael Smerconish  Thomas Sowell  Mark Steyn  John Stossel  Cal Thomas  Jonathan Tobin  Bob Tyrrell  Diana West  Dave Weinbaum  George Will  Walter Williams  Mort Zuckerman  Robert Arial  Chuck Asay  Chip Bok  Dry Bones   Lisa Benson  John Branch  Gary Brookins  John Cole  Paul Combs  J. D. Crowe  John Deering  Brian Duffy  Everything's Relative  Mallard Fillmore  Jake Fuller  Bob Gorrel  Joe Heller  David Hitch  Jerry Holber  Steve Kelley  Jeff Koterba  Dick Locher  Chan Lowe  Ranan R. Lurie  Jimmy Margulies  Rick McKee  Michael Ramirez  Jeff Stahler  Danna Summers  John Trever  Gary Varvel  Kirk Walters  How 2  Know-It-All  Lori Borgman  The Savvy Consumer  Elder matters  Fixit  Dr. Peter Gott  Marybeth Hicks  GET A JOB! by Marty Nemko  Richard Lederer  Tech Maven  Nutrition Myths  Supermarket Shopper  Bruce Williams  How Stuff Works