This document discusses the relationship between Islam and economics. It argues that many Muslims see economics as disconnected from their faith or as a "necessary evil". However, the document claims that an appeal to the Quran shows why business and economics are vital to an Islamic understanding of the world. It cites verses noting that God created humanity to work productively and take part in developing the world. The document concludes that economics can help fulfill God's mandate by studying how societies can best organize productive activity mentioned in the Quran.
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The Economic Imperative in Faith
1.
2. Many Muslims have a distant, even negative, view of
economics and business. Imams discuss the need for
moral activity within the business world, but often
ignore whether its economics in itself is morally
justifiable.
3. Some even assume that economics is a sort of
necessary evil; that economics is an academic
discipline with little connection to their faith, and
often religious leaders support economic proposals
without understanding the complexity of the issues
involved. This harms Islam.
4. An appeal to Qur'an would explain why business
and economic concerns are vital to an Islamic
understanding of the world.
“His companion said to him, in the course of the argument
with him: “Do you deny Him Who created you out of dust,
then out of a sperm-drop, then fashioned you into a man?”
[18:37]
5. "Verily, in the creation of the heavens and of the earth, and the
succession of night and day: and in the ships that speed through
the sea with what is useful to man: and in the waters which God
sends down from the sky, giving life thereby to the earth after it
had, been lifeless, and causing all manner of living creatures to
multiply thereon: and in the change of the winds, and the clouds
that run their appointed courses between sky and earth: [in all
this] there are messages indeed for people who use their
reason." [2:164]
6. “That He did create in pairs,- male and female, from a seed when
lodged (in its place).” [53:45-46]
“Thus will Allah show them (The fruits of) their deeds as (nothing
but) regrets." [2:167]
7.
This verse provides an essential justification for
Muslims to be involved in economic activity. God did
not create a static world for us to idly enjoy. Instead,
He made one that develops and grows over ages
and ages. He made us to take part in that, enjoy it,
and spread his image over all creation. Work and
productive activity are not optional for the Muslim
man or woman, nor are they simply necessary evils.
Work is fundamental to our calling as human beings.
8. No one works in isolation. Qur'an also tells us that it
is not good for man to be alone. Each of us has
different needs, desires and visions for how the
world ought to be. One man wants to cut down a
tree to build a fence, while another may want
harvest the tree’s fruit. How do we decide which
vision should be carried out? How do we organize
society to best fulfill God's mandate?
9. Throughout human history and cultures, societies
have developed many ways organize their
productive activity, such as Feudalism, Communism
or Capitalism. From broad questions like how to
provide healthcare, to small details like ensuring
there is bread in the local grocery store, each
problem is enormously complex. Finding the best
solution has been a struggle for most of human
history.
10. Fortunately, God gave us rational minds which can study
the world. Pahman defines reason as “that mental faculty
that allows us to identify what things are (wisdom) and
consider and determine what must be done (prudence).”
We use our reason to study the world, how people
behave and react, and discover the best way of
organizing ourselves. In fact, that is the heart of
economics. Every economic question is fundamentally a
question of how human beings behave, and how we
ought to coordinate our efforts to improve the world.
Economics is a vital tool that can help mankind fulfill
God's mandate found in Qur'an.