In America, the Jewish community is one of the most religious ethnic group in existence. While other groups disintegrated and got assimilated in the American system, the Jews, who are a minority group, stuck to their roots and prospered with the hope that when the time was right, they would go back to their country of origin. However, decades have passed, and New York, in particular, has become home to their different ventures. The Jewish community is made up of business-minded individuals who call and advocate for cash to revolve around themselves. Additionally, by invoking the proclamation, the rabbis have made it impossible for outsiders to illegally enter the Jewish community, which has also resulted in a segregated system. With the advent of globalization, Jewish practices have been significant in promoting and developing the economic environment of New York City. From the past biblical settings, primarily, the Old Testament, Jewish people were known for being entrepreneurial and, therefore, their present undertakings are just but a testimony of their abilities from their past.
Definition of the Dimension of New York Jewish Economy
The New York economy is sustained by various core elements that are a reflection of its vitality and the embedded connections that promote the American principles. In essence, value and competition come out as essential factors for the development of the system. Besides, voluntarism is a central feature of the economic environment of New York City. The communal government system that holds on the federalist governance system is responsible for ensuring different community members abide by the rules as well as work hard to promote trade and the economy. Through innovation and entrepreneurship, it has become possible for various businesses to be owned by the Jewish community. Moreover, the presence of a vast market and the culture of consumerism coupled with a limited environment where the Jews are the main clients serve to ensure the community starts by developing itself before venturing into the world. 1
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The most crucial aspect supported by the community is the sustenance of Judaism. Indeed, being a religious group, adherence and abiding by the rules of their god comes as a priority. Another core aspect that is unique among the Jews is the building of support of the Israelite state with the view to upholding the Zionist vision and lastly, the engagement of Tikkun Olam, which is an act of having the world repaired. In brief, therefore, the economic influence of the Jews comes down to infrastructure, viability in finances, communication and branding, investment, leadership, and diversity. Each of these sectors gives the Jewish people a chance to advance and grow their craft within the confines of the law.
Infrastructure
The 19th century found the Jewish community investing in hospitals, universities, and seminaries. Their investments in schools, synagogues, cemeteries, and agency facilities are geared towards helping and promoting the development of New York City. Additionally, the community is responsible for managing extensive properties that are under the operations of the aegis of the Jewish Organization. Through such practices, thousands if not millions of people get employed to perform different roles and services. As a result, the New York City benefits in terms of social and economic development. Economically, the infusion of money into Jewish businesses helps to ensure that the circulation of money becomes a possibility. Additionally, families get the chance to gain their daily wages while at the same time developing themselves through the finances they get for working with the different organizations and businesses. Indeed, the provided services not only help people meet the education, cultural, and religious needs, but they also ensure the citizens gain support literally. 2
To economists, the presence of a ripple effect arises from a particular economic policy. As things stand within the Jewish community, any action they take has a significant impact on the larger society. New York City is bursting with development programs, which are as a result of efforts by the Jewish community. With the increasing and ballooning presence of the Jewish community in the city, there is also the growing aspect of employment, service provision, investment opportunities, donors, and purchases. A majority of the aspects mentioned above have a Jewish name written upon it. Also, businesses and commercial groups are forming and building partnerships with the Jews to promote and develop their operations and resources. Through such investments, the public is getting access to different amenities that were previously inaccessible meaning it is only right to presume further development for the city.
Financial Viability
The current society rarely looks into the economic capability of the Jewish community. With the ceasing of the publication of American Jewish Year Book, the data on how wealthy the Jewish community is no longer exists. Moreover, with the practice of the edict, everything is shrouded in mystery with the public unable to understand how vibrant the community is especially the Syrian-Jews. However, based on existing research findings, the gross domestic product of the Jewish community exceeds eight billion dollars. 3 A breakdown of the different sectors in the community reveals that most of the funds are channeled to social welfare followed by education and communal life. A substantial amount of the funds in the community go through the Jewish Federation System while some are concentrated at the top of the Jewish public system. With time, the Jewish private sector has arisen, but the view of communalism and oneness has prompted many of them to operate within the confines of the legal governance of the Jewish community system. 4
Communication and Branding
While the economic and social systems have been part of the development process of the Jewish community, a lot of the information available is due to the investment in communication and networking. Currently, the Jewish community has different online platforms upon which they share information as well as give guidance on developments to the community. Additionally, everyone gets a chance to contribute, discuss economic matters, and develop the community even more. The advent of technology has, therefore, made it possible for the people to meet, source resources and look for opportunities to improve their craft even further. As such, New York City has benefited from this practice through the sourcing of outside investment opportunities thus making the city the headquarters of the different businesses. Since their immigration into New York, their efforts to collect and use the information to further their goals came as a priority, which also served to ensure they stayed ahead of the competition in different fields. Information is core to any economic development, and by using online resources, the community has managed to identify different core opportunities and used them to advance and develop their position in the nation. 5
Investment
As illustrated above, the Jewish community maintains ties that prevent outsiders from entering into their system. Being their home, the development of New York City comes out as a priority hence the Jews have put in place measures that advocate and develop their position in the city. With the increased wealth of endowment funds, established foundations, and other systems, the community stays dedicated to following through different developments and growth moments. Besides, considering the Jewish system is capital-driven with the emphasis being how one can stay and progress as an entrepreneur, their various investments in the city keep growing. To this end, the more they invest, the more the city gains and as per the above assertions, their investments are not limited to a single industry. 6
Conclusion
New York has gained significantly from the moment the Jews became part of the city. From the immigration moment to the present, the different practices portrayed by the Jews have worked to advance and promote their entrepreneurial spirit. In addition, the Jewish community still holds the view that by developing and expanding their businesses, they could go back to their home country as wealthy individuals. However, since they are still in New York, their influence on the economic environment has been significant. One needs to only look at the investments, the financial companies, and the leadership protocols. Besides, the evidence of their impact is present in how they promote and develop the social and economic environment to better both the community and the nation. As such, New York City has gained a lot, and with time, the city is set to benefit even more from the business practices and investments advocated by the Jewish people.
Bibliography
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