"I would like to sell my daughter into slavery, as sanctioned in Exodus 21:7. In this day and age, what do you think would be a fair price for her?"
First of all, the concept of slavery in the Torah is nothing like slavery as Americans know it (such as the enslavement of Blacks). Servitude to your fellow human is contrary to the goal of Torah, which is to serve God alone. Nonetheless, Torah recognizes the plight of abject poverty, when pledging to temporarily labor for another human is sometimes necessary to pay down a debt. Yet, even while the Torah tolerates the institution of human servitude as an economic safety net, the Torah discourages it and places explicit protections on the arrangement in order that the servant not be exploited and degraded while he repays his financial debt.
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http://www.mesora.org/jewishtimespassover.pdf
The phenomena of a slave can be created by nature, or nurture. In Egypt, the Jews were nurtured into a slave mentality, a dependency on a dominating authority. This mind set actually affords some psychological comfort, despite physical pain. When one prefers slavery, he in other words prefers not to make decisions, and relies heavily on a leader. Perhaps for this reason, the very first laws given (in Parshas Mishpatim) address slavery. They outline this institution as a simple, monetary reality. One has no money, so he pays his debt via servitude. But in no way is human respect compromised when he is a slave. The master must give his slave his only pillow and suffer a loss of comfort himself. The slave remains equal to the master in all areas and deserves respect as any other man. Slavery is simply an institution under the heading of monetary laws. This teaches the Jews that the slavery they experienced is not a way of life, but a temporarily, tolerable state. The fact that God does not prefer slavery for man is His statement that "you are servants to me and not to man." One is even physically reminded of the corruption which exists in the desire to be a slave, by the Torah law of boring his ear. The ear which heard on Sinai, "servants to Me are you, and not servants to servants (man)". (Rashi or Exod. 21:6)
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http://www.mesora.org/dishonestweights.html
The first laws, which G-d gave us at Sinai, were the laws addressing slavery. Why? We were just released from slavery. These laws addressed the very state in man that is despicable in G-d’s eyes, i.e., human servitude. The end of human servitude is primary for the fulfillment of G-d’s laws. Human servitude eclipses servitude to G-d. Removal from slavery is not the good in itself. What’s wrong with working for another man, and earning your livelihood? No. Our release from bondage was in order that we be free to follow the Torah, but more essentially, to serve G-d and not man. Human servitude directly obscures man’s direct relationship with G-d. The very institution of slavery is the antithesis of Torah. Slavery epitomizes man’s psychological dependency on another - the state of a child. One who yearns for a human master displays his retardation - he has not advanced from the infantile state of dependency. Such a Jew has his ear awled. For the ear is what heard at Sinai, "My servants are you, and not servants to servants." Man was designed to travel through infantile dependency, not make it his destination. Ultimately, man must see others as equals; only G-d should maintain the position as "Master". When G-d freed us, this was the "commencement of the commands."
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http://www.mesora.org/RabbiFox/Behar63.htm
"And you shall count for yourself seven Sabbatical years, seven years seven times. And the period of the seven sabbatical cycles shall be forty-nine years." (VaYikra 25:8)
In the Land of Israel the years are divided into cycles of seven years. The seventh year of each cycle is the Shemitah year. During the Shemitah year the land is not worked. Seven of these cycles include forty-nine years. The fiftieth year is the Yovel – Jubilee year. During Yovel the land may not be farmed. In addition, the land is redistributed. Land returns to the descendants of the individuals who originally inherited the Land of Israel. Another law of the Yovel is that all Jewish slaves are freed.
Sefer HaChinuch discusses the moral lessons learned from the Yovel year. He explains that Yovel reinforces a fundamental idea. Hashem is the master of the land. We may purchase the land for a period of time but our ownership is limited. With the arrival of the Yovel, we must recognize that the Almighty is the legitimate owner. He has the right to restrict our use of the land and to require its redistribution.[5]
It is quite understandable, according to the reasoning of Sefer HaChinuch, that Yovel is associated with the number seven. It follows a series of seven cycles of seven years. The universe was created in seven days. The Yovel reminds us of Hashem’s role as Creator. This is the foundation of Hashem’s ownership. He created the universe. He has the authority to distribute the land according to His will.
There is another aspect of the Yovel phenomenon. Modern society accepts the responsibility to provide for its less fortunate members. However, the task often seems overwhelming. Poverty tends to be inter-generational. Eventually, poverty can become ingrained within the structure of the family. New generations, raised in poverty, lack hope, skills and motivation. These important characteristics are replaced by profound hopelessness.
The only solution to this problem is to prevent poverty from becoming culturally ingrained within the family. Relief must be provided before an underclass mentality can develop. The mitzvot of Yovel provide a method of preventing inter-generational poverty. Every generation receives a fresh start. The land is redistributed. Everyone receives a portion.
From this perspective, it is fitting that all Jewish slaves are freed at Yovel. This too assures that the disadvantaged receive a fresh start. The Jewish slave has fallen to a level of abject poverty. With Yovel, he and his children can begin a new life as free individuals upon their own land.
This entire system is more radical than any system in today’s world. It reflects the level of responsibility we bear for the welfare of those in need.
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So, we can see that the Torah system provided an economic safety net for people who fall into poverty. They pay off their debts through pledging their own labor for a specified length of time, all the while receiving room, board, and Torah-mandated respect and kindness as an equal human being. After his servitude contract is up, he leaves with all his own possessions.
Moreover, with the start of a Jubilee year (once every 50 years), his contracted servitude is automatically over, even if he served a mere month, week, or single day. Plus, he receives the portion of Land that was originally allotted to his ancestors.
This is a welfare system. It is NOTHING like the modern version of human trafficking, degradation, and suffering, that Americans know as "slavery." The two systems couldn't be more different. Any attempt to draw similarities is wholly disingenuous.
Now, let's revisit the question posed by the letter writer.
"I would like to sell my daughter into slavery, as sanctioned in Exodus 21:7. In this day and age, what do you think would be a fair price for her?"
The author suggests that the Torah sanctions selling children for a profit ("a fair price"). Yet, we already learned that the Torah concept of "slavery" was intended to be an economic safety net, for families that fell into abject poverty and could not repay their financial debts except through pledging their labor.
Specifically, what does Exodus Chapter 21 say? Well, verses 7-11 outline very specific RIGHTS which PROTECT a daughter from sexual exploitation by her father's debtor (her "master"):
(1) If the master (debtor) agrees to marry her, but then changes his mind, he may not transfer her labor contract to a foreign people.
(2) If the master (debtor) permits her to marry his son, then he must treat her exactly as his own daughter in every manner.
(3) After she marries him (debtor or debtor's son), and he marries an additional woman, then she must not experience any reduction in her food, her clothing, or her conjugal rights. (Yes, that's correct. Conjugal RIGHTS. The woman has the Torah-mandated RIGHT to sexual pleasure when SHE wants it and the Torah-mandated RIGHT to say "NO" when SHE doesn't want it.)
(4) If the master (debtor) violates any of these rights (1 through 3, above), then the daughter's labor contract is IMMEDIATELY considered completed, her father's debt is paid in full, and she is free to go without paying the debtor anything more.
So, rather than encourage trafficking of children on a whim for profit (as the letter writer increduously suggests), the Torah system introduced specific rights and protections for women, when their families fell into abject poverty and were most vulnerable and dependent upon others for survival.