The attitude of Judaism to the yetzer hara (evil inclination) in economics,
as one that can be sanctified, stands in contrast to the attitudes found in… socialism.

Their understanding of the economic drive as being the cause of hate, jealousy, theft and murder was a correct one and one that is perfectly acceptable.

It is, however, their method of handling the economic drive that differs from that of Judaism, since primarily they aimed at trying to eradicate it.

In socialism, the evil effects of property and wealth led to various forms of abolition of private ownership… and the transfer of economic activity from the market to that of the state.

Since it severed the relationship between the activity of the individual and the return that society was paying him, this raised other moral issues of a fair return for an honest day’s work.

Furthermore, by placing economic decisions in the hands of state officials and bureaucrats, these were given the power of life and death over individuals, thus creating a widespread system of coercion and bribery.