Today we find ourselves amidst a collection of laws about fairly regulating the market. As it sometimes does, the Gemara offer a mnemonic, which it calls a sign (siman), that sums up the rules of the markets of Israel:
A sign: Hoarders of produce; one may not hoard; and one may not export; and one may not earn a profit twice from the sale of eggs; they sound the alarm; and one may not leave.
This shorthand list is explained in the Gemara as follows: One may not excessively hoard produce to drive up the price, but one may hold back enough produce to have a personal store in case of need. One may not export produce from the land of Israel unless there is a surplus of staples such as flour, wine and oil. This assures that local supply is steady and affordable. One may not profit twice from selling eggs, which means either one may not double the price of eggs in resale, or a middleman may not sell to yet another middleman, which would also raise the prices unnecessarily. All of these are about ensuring there is an abundant and affordable supply of goods in the market.
From here, the list takes an interesting (and less obviously economic) turn. “Sound the alarm,” means blowing a shofar in the marketplace to call the public to a prayer gathering. As we learned in Tractate Taanit, this was done in the case of many different kinds of disasters, from droughts to wars. On today’s daf, the Gemara states the concern is a market crash, when the price of goods goes into freefall. In fact, they may even call this prayer session on Shabbat when, ordinarily, one does not petition God. And the last item on the list, “one may not leave,” means a person is not allowed to leave Israel because they will miss out on the opportunity to fulfill mitzvot that are linked to the land.
The last two rules in this list are of an entirely different nature as they address religious laws of prayer and holiness, not economic regulation of the market. Yet if we look closely, the two halves of this list are connected by an unspoken narrative of consequences: If you don’t rein in economic business practices that are designed to maximize profit, then you could cause prices to rise exponentially, people to starve or the market to crash; then, at the brink of disaster, you will need to call emergency prayer meetings, while some might consider leaving the land in search of economic opportunity.
Rather than ask God for help or be forced to leave the land of Israel, the Talmud suggests, it is better to prevent the disaster before it happens with smart and just economic decisions. This moral link between the first and the second half of the list raises the question: Are the laws of market regulation considered religious laws, some of them mandated by Torah, or are these pages of Talmud engaged in a secular discussion of economics?
In truth, this question applies to most of Bava Batra. Some of the topics we have discussed have clear biblical sources, such as the rules of having fair weights and measures. These are more obviously ethical laws, since “thou shall not steal” is one of the 10 Commandments. Using unfair scales and cups is just a creative way of stealing. But other questions, such as how to mint money or whether one may manipulate supply and demand, are not addressed in the Torah and are more of a gray area of regulatory policy even today.
The Gemara on today’s daf casts the laws of market regulation as a religious obligation by quoting a verse from the biblical prophet Amos, who often preached against social corruption and wealth gaps in society when the first Temple stood:
The sages taught: Hoarders of produce, and usurers, and those sellers who falsely reduce their measures, and those who raise market prices by selling for more than the accepted price, about them the verse states: “You that would swallow the needy and destroy the poor of the land, saying: When will the new moon be gone, that we may sell produce? And the Shabbat, that we may set forth grain? Making the measure small, and the shekel great, and falsifying the balances of deceit.” (Amos 8:4–5) And it is written: “The Lord has sworn by the pride of Jacob: Surely I will never forget any of their works.” (Amos 8:7)
Amos declares that God will punish exploitative business practices, whether they amount to manipulating the market to maximize prophet or outright theft. The prophet draws a straight line from greedy business tactics to social injustice and societal rot, making them deserving of God’s wrath. Though the verses from the prophets are not often used as legal proof, this verse from Amos gives divine weight to the laws regulating the market.
Read all of Bava Batra 90 on Sefaria.
This piece originally appeared in a My Jewish Learning Daf Yomi email newsletter sent on September 23, 2024. If you are interested in receiving the newsletter, sign up here.
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