A while ago, Jamie Egan wrote an insightful blog (Living with Stereotypes: All Jews Have Money) about her personal experiences confronting this stereotype in her synagogue and community. I’d like to add to the discussion by looking at the source of this stereotype and at some factors that might create the impression that Jews have money.
First of all, as many people correctly observe, there are many Jews in finance and in the diamond industry. However ethnic groups are often characterized by certain professions; some groups have many restauranteurs, craftsmen or hotel owners among their ranks. It is understandable why there are more fishermen in Japan than in New Mexico, simply because of the climate of the regions. A cultural climate and a shared history can determine the tendencies of a certain group.
It is something for which we can be grateful to the Hashem that the Jewish People have made much progress in America in one or two generations. But it is important to remember where these Jews started. If you visit the Tenement Museum in New York’s Lower East Side, you can get an idea of how Jews lived in the early twentieth century; conditions were dire, the apartments were unsanitary and disease-ridden and many were lucky to even survive such conditions. The drive to succeed financially was great, especially since many Jews had tasted the alternative of extreme poverty and felt determined to build a better future for themselves and their families.
What about the stereotype of the Jewish Banker? From Medieval Times until recent history, Jews were barred from owning land and from various professions. In many cases, they were forced to be money lenders. Of course, if for hundreds of years a certain group is made to practice a certain profession, they are going to gain some skill in the area. The stereotype of the Jewish banker, if based on reality, has its root in the history of the treatment of Jews in Europe.
So what about diamonds? Jews in Europe faced so many expulsions and harsh decrees that the future was always uncertain. During unstable times and wars, people invest in gold and gems rather than to put their money into banks because they never know when they are going to have to flee the country. Jews fled Russia and Nazi Germany literally with “diamonds in the soles of their shoes” because no other way of storing funds necessary for survival was safe.
It is often said that many stereotypes have their basis in reality. As long as that history is understood with an open mind instant impressions need not lead to demeaning labels.