Judaism and the Economy Essay - 1222 Words

Judaism and the Economy While the Jewish population is small, its impact on the economy is extensive. For a group of people making up less than two percent of the United States populace, Jews are certainly a topic of much conversation and controversy. For a race so often targeted negatively and used as a scapegoat, it is surprising to realize the Jewish hand in America today. A question circulating for a while is whether or not Jews control America; Jews rule the film industry, the news and communication business is a Jewish kingdom, the American financial industry is essentially a Jewish franchise, and the professions are so dominated by Jews its shocking, so where does their influence run out? While the idea that America is run by†¦show more content†¦In a recently released study, researchers at Nova Southeastern University claim that the strategy boosts stock market returns. Pan Yatrakis, who co-authored the study with Albert Williams, is quoted as saying that, â€Å"Observant Jewish traders r epresent a small proportion of all market participants but, at the margin, their withdrawal during the High Holy Days thins out the market, increases volatility and risk, and may discourage others from trading as well, thus creating a snowball effect.† Furthermore, the when the study looked at closing values of the Dow Jones Industrial Average from the year 1907 to 2008, they found that selling stocks before Rosh Hashanah and buying after Yom Kippur netted an average return of 1%. William expounds; â€Å"if you were to sell one million dollars’ worth of stock around Rosh Hashanah and then buy back those stocks at Yom Kippur, you should make about $10,000 profit, that’s one percent profit in a little over a week.† However, as big as that news is, the bigger surprise is that this whole reality goes against the Efficient Market Hypothesis. The hypothesis implies that because the market knows this will happen, you shouldn’t be able to profit from it, but seeing as the whole world knows when Rosh Hashanah and Yom Kippur will happen and there is still an abnormal return of one percent, the market isShow MoreRelatedSolution to the Current Global Economy: Judaism and Economic Reform, by Norman Solomon1103 Words   |  5 PagesIn the essay â€Å"Judaism and Economic Reform†, Norman Solomon, a Jewish-American journalist, presents a compelling argument on the basis of the need for economic reform while providing simple religious base solutions. While discussing two major economic problems that plague the world’s current economy, Solomon introduces the Jewish view of the global economy and their general view on economics as a whole. 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