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Judaism

Why the credit crunch can have a silver lining

The economic downturn may be hard but it can help free us from the slavery of materialism.

July 31, 2008 23:00

By

Rabbi Yitzchak Schochet,

Rabbi Yitzchak Schochet

4 min read

The economic downturn may be hard but it can help free us from the slavery of materialism

 

A little while ago, I was in discussion with someone who had been given the unenviable task of having to inform a whole group of employees of their impending redundancy. The credit crunch was biting. The greatest challenge, as he pointed out to me, was knowing the circumstances of some of these people - the expectations they created for themselves, the standards craved, the short- and long-term ambitions, all underpinned by a ravenous desire to accumulate more. All those dreams shattered in one fell swoop. It's a tragedy in itself but compounded that much more by the consequences that ensue.

Only recently, a spokesman for Mishcon de Reya, the legal firm that has been involved in some high-profile divorces, pithily put it, "When money looks like flying out of the window, love walks out of the door." London divorce specialists say that inquiries have tripled since hard times began to hit the City fat cats. I have encountered this within the Jewish community as well and know other rabbis who could attest the same.

There is an inevitable tragedy when the focus of a relationship becomes so utterly dependent on extravagance - the bigger house, the new cars, the foreign holidays - that when these things dissipate, when the status quo cannot be maintained and the glue turns out to be putty, there is nothing left to hold it all together.

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