64.3 F
Tuesday, May 28, 2024
HomeCommentaryAskAsk a Jew: How do Jews make so much money?

Ask a Jew: How do Jews make so much money?


Related stories

God loves all: Dispelling the myth that God hates the LGBTQ+ community

Discover the truth about God's love for the LGBTQ+ community. A thought-provoking commentary that challenges misconceptions.

Should Memorial Day be observed in church?

Examining the role of Memorial Day in evangelical churches. Explore the controversy surrounding its observance in sanctuaries.

Chiefs Kicker Butker’s speech at trad-Catholic college sparks outrage and support

Uncover the controversy surrounding Harrison Butker's commencement speech at Benedictine College and the support he has received despite it.

Get mad, be sad and get busy: Navigating life’s unexpected turns

Navigating life's unexpected turns: A personal journey of growth and resilience in the face of challenges and disappointments.

Pope Francis calls all people to care for the earth

Discover the impact of Pope Francis' encyclical Laudato Si', which emphasizes the importance of earth care and urges action against climate change.

Our Sponsors


What questions do you have about Judaism? Submit them online, or fill out the form below. 


By Neal Schindler

How do Jews make so much money?

SPO_Ask-a-Jew-ad_042114That’s an interesting question. As it happens, a little girl named Liselotte had almost the exact same question 77 years ago. And televangelist Pat Robertson asked it again just last year.

In less than two months as the director of Spokane Area Jewish Family Services, I have already met a number of local Jews who are anything but wealthy. But let’s venture beyond my personal experience. The English-language version of Ynet, which calls itself “Israel’s largest and most popular news and content website,” addressed your question several years ago in an article titled “How did American Jews get so rich?” (Note the word “American.” Ethiopian Jews? Not so rich. Mizrahi Jews in Israel? Ditto.) The piece cites a widely referenced Pew Forum Institute study from 2008 that determined Jews to be “the richest religious group in the US.” An eyebrow-raising finding from the study: “Forty-six [percent] of Jews earn more than $100,000 a year, compared to 19 percent among all Americans.”

By way of explanation, Ynet quotes Danny Halperin, a former Israeli economic attaché. He suggests that Jewish financial success, such as it is, may relate to the notion that “[t]he Jewish tradition always sanctified studying.” Statistically, educated people tend to make more money. Halperin also contends that “the Jews have a strong tradition of business entrepreneurship.” This theory positions us as a “model minority,” not unlike Asian Americans, who also receive praise for being, and are stereotyped as, people who prioritize education and, supposedly, have an almost superhuman work ethic.

My parents both grew up far from wealthy. Both became university professors and earned enough to put us securely in the upper middle class. Educational and intellectual ambition won them scholarships without which they might not have succeeded as they did. I don’t think there’s a secret to their success, or at least not one that would interest the writers of “The Protocols of the Elders of Zion.” I also don’t know what portion of American Jewry their story represents.

At this time I’d like to yield the floor to Catherine Rampell’s New York Times review of Jerry Muller’s book “Capitalism and the Jews.” Hundreds of years ago, Rampell explains,

lending at interest was… forbidden across Christian Europe — for Christians. Jews, however, were permitted by the Roman Catholic Church to charge interest; since they were going to hell anyway, why not let them help growing economies function more efficiently? (According to Halakha, or Jewish law, Jews were not allowed to charge interest to one another, just to gentiles.) And so it was, Muller explains, that Judaism became forever fused in the popular mind with finance.

Jews ended up in moneylending not because they yearned to do it, but because they weren’t allowed to do much else in harshly anti-Semitic societies of the time. The powers that be essentially forced Jews into a despised line of work and then vilified them for it — textbook institutional anti-Semitism.

David Leonhardt’s 2011 New York Times piece “Is Your Religion Your Financial Destiny?” is another worthwhile read. Leonhardt looked at the Pew study, too, and he provides a pithy summary:

Some of the income differences [between religious groups] probably stem from culture. Some faiths place great importance on formal education. But the differences are also self-reinforcing. People who make more money can send their children to better schools, exacerbating the many advantages they have over poorer children.

My parents sent me to private elementary school; took me to Germany, Greece, and Morocco; changed neighborhoods to place me in a better public school system; and could afford tuition at an elite liberal arts college. They worked their way up from very little, in large part so that I could have it (much) easier than they did. Their parents did the same thing. This isn’t just a Jewish ideal or an immigrant one. It’s a crucial part of the American Dream, a mythos that has guided generations of U.S. citizens, for better or worse, in their educational and professional pursuits.

Jews you encounter who have made “so much money” may have done it much the way many other Americans have: privilege based on their race, gender, and/or socioeconomic status; hard work, sacrifice, wise investment, patience, and self-discipline; and a not insignificant amount of luck. We all live in an unjust system that produces an astronomically wealthy 1 percent and a vastly less affluent 99 percent. (Actually, the distribution of wealth in America is even more effed up than you think it is.) My unsolicited advice: Pondering the affluence of Jews may not be as helpful as thinking about how to fix, or at least radically adjust, our grievously inequitable society.

Neal Schindler
Neal Schindler
A native of Detroit, Neal Schindler has lived in the Pacific Northwest since 2002. He has held staff positions at Seattle Weekly and The Seattle Times and was a freelance writer for Jew-ish.com from 2007 to 2011. Schindler was raised in a Reconstructionist Jewish congregation and is now a member of Spokane's Reform congregation, Emanu-El. He is the director of Spokane Area Jewish Family Services. His interests include movies, Scrabble, and indie rock. He lives with his wife, son, and two cats in West Central Spokane.

Our Sponsors



0 0 votes
Article Rating
Notify of
Newest Most Voted
Inline Feedbacks
View all comments
Jahir Nazarana
Jahir Nazarana
6 years ago

Jew are well educated, hard working, goal oriented and have strong Jewish Network. Jews are International Cartel. They support their own across the Nations and political spectrum. They are singularly loyal to Israel, irrespective of their country of citizenship. AIPAC is unique Jewish central financing apparatus that can circumvent laws of any country to help their candidates in a legal way. Their non-bribe bribe extends to non Jewish politicians. They have co-opted Illinois Senators Durbin and Duckworth for pittance. Illinois is my state. We have about 2 % Jews. My Congresswoman,My Mayor, My State Assembly and Senate rep are Jews and My Governor is a Jew and The opposition party two leading candidates are Jews.
All these are loyal to Israel. That is a power.

I will not mind it, if just they will give their first loyalty to USA before Israel just like catholics
JFK and Christian Obama did and Romney did. All of them are stranger to rest of the citizens except for political related activities.

cure za avanturu
4 years ago


sex slavonija
4 years ago

osobni kontakti oglasi

stranice za upoznavanje

Listing of Spam web site responses which appears to be like trustworthy adequate toward approve:

Yesbet88 Casino
4 years ago

Best stereo systems is here , check it out ! https://bestplay777.com

Yesbet88 Casino
4 years ago

Loe travel , best offers here ! https://bestplay777.com

Rory Troxel
4 years ago

Skyking, Skyking, this clue is your next bit of information. Immediately transceive the agency at your earliest convenience. No further information until next transmission. This is broadcast #8432. Do not delete.

Josefine Lemelin
4 years ago

[…] Garden! She has so many wonderful recipes and tips, I suggest you go check it out for yourself.  This is where I found the Beeswax Lotion […]

Lamar Nickelson
4 years ago

Enjoyed every bit of your blog.Really looking forward to read more. Great.

Marlys Groscost
4 years ago

Just passing through… and I decided to send a message because recently I read a webpage covering something nearly the same.The synchronicity wasfascinating I admit.

Thomasine Kittleson
4 years ago

wohh exactly what I was searching for, thanks for putting up.

Would love your thoughts, please comment.x