The socio‐economic time dimension in Talmudic literature

Abstract

Attempts to analyse some of the aspects of economic time as presented in biblical and apocryphal sources, and as debated in the Talmudic tomes. Also asks, what is time and what is its social significance? The notion of time and its proper utilization is a major topic of discussion and significance in Hebrew scriptures, Talmudic literature and in subsequent Jewish thought. Demonstrates the scriptural and Talmudic approach towards the time phenomenon and, in particular, the utilization of time as an economic vehicle with respect to “time preference” ‐ the placing of a higher value on present rather than future goods; “waiting time” ‐ the Talmudic theory of interest; “lost time” ‐ the Talmudic theory of foregone opportunities or opportunity lost, and the subtle distinction between “waiting time” and “lost time”, all theoretically insightful and economically significant.