What It’s About
Finance Minister Bezalel Smotrich is introducing a unique economic philosophy derived from Jewish religious teachings. He envisions a future where the guidance of rabbis and the laws of the Torah play a central role in shaping Israel’s financial framework. This approach aims to couple religious adherence with economic prosperity for Israel.
Why It Matters
Smotrich’s religious-economic philosophy proposes that Israel can find unparalleled prosperity and security by following the Torah. His emphasis on Torah studies, mutual responsibility, and settlement aligns with historical and religious values, setting the stage to reinforce Israel’s Jewish identity while pursuing economic goals.
The Details
Upon becoming Finance Minister, Bezalel Smotrich outlined a plan that integrates religious teachings into Israel’s modern economy. Making clear references to the Torah’s promises of prosperity, Smotrich envisions a framework supposedly overlooked by traditional socialist and capitalist methods. His priorities include increasing funding for Torah studies, enhancing the Jewish character of the state, and promoting settlements.
Supporting Faith in Governance
Prime Minister Benjamin Netanyahu supported Smotrich’s vision and appointed him to a role with significant influence over Israel’s financial resources. The finance minister has focused on channeling billions of shekels towards projects that promote religious education and settlements, reinforcing the Jewish, ethical, and social foundations of the state.
Adapting to Challenges
Even amidst security challenges, such as those following the October 7 disaster, Smotrich has maintained his theological economic doctrine. Though faced with a high deficit, his administration prioritizes long-term spiritual and economic prosperity through strategic Torah-centered budgeting and financial planning.
Calls for Professional Integration
Experts within the treasury, including Bank of Israel Governor Prof. Amir Yaron, advocate for more input from professional bodies in budget planning. Calls have been made to address the rising budget deficit and slow economic activity, while combining professional and religious oversight could enhance policy formulations.
Future Outlook
Smotrich’s approach presents a transformative vision rooted deeply in Jewish tradition. While immediate economic metrics like inflation and housing might face challenges, the alignment with religious values and financial stewardship underscores a broader framework to possibly awaken a resilient and prosperous Israel founded upon faith and traditional wisdom.
This story was first published on jpost.com.