ISLAM provides guidance to its adherents in all phases and activities of life, in matters, material as well as spiritual. Its basic teaching with regard to economics is mentioned in several passages of the Quran. Far from despising material well-being, it recognizes (4/5) that: "... your goods which God has made as the very means of your subsistence..." and it orders: "and neglect not thy portion of this world" (Q. 28/77).

 However, it lays emphasis on the dual composition of man, by reminding that "... of mankind is he who saith: Our Lord! give unto us in this world; and he hath no portion in the Hereafter. And of them is also he who saith: Our Lord! give unto us what is good in this world and what is good in the Hereafter, and guard us from the doom of Fire.

 For these there is in store a goodly portion out of that which they have earned; God is swift at reckoning." (Q. 2/200-2). In other verses we find it stated plainly and definitely that, all that is found on the earth, in the seas and even the heavens has been created by God for the benefit of man; or that all that is on earth, in the heavens, the ocean, the stars and others have been made subservient to man by God. It remains for man to know and to profit by the creation of God, and profit in a rational way, paying due regard to the future.

The economic policy of Islam

The economic policy of Islam has also been explained in the Quran, in most unequivocal terms: "... so that this (wealth) may not circulate solely among the rich from among you... " (Q. 59/7). Equality of all men in wealth and comfort, even if it is ideal, does not promise to be of unmixed good to humanity. First because natural talents are not equal among different men, so much so that even if one were to start a group of persons with complete equality, soon the spendthrift will fall into difficulties and will again look on the fortune of his comrades with greed and envy. Further, on philosophical and psychological grounds, it seems that in the very interest of human society it is desirable that there should be grades in wealth, the poorer having the desire and incentive to work harder. On the other hand, if everybody is told that even if he works more than what is required of him as his duty, he would get no reward and would remain as those who do not do more than their duty, one would become lazy and neglectful, and one's talent would be wasted to the great misfortune of humanity.

Domination and exploitation

Everyone knows that human livelihood is in constant progress, through the domination and exploitation one after the other of all those things that God has created, whereas one sees that the rest of animals have changed nothing in their livelihood ever since God has created their species. The cause of this difference as discovered by biologists is the simultaneous existence of a society, a co-operation, and a liberty of competition inside the members of the society, i.e., human beings whereas other animals suffer from the lack of some or of all of these requisite conditions. Dogs, cats and snakes for instance do not create even a family; they perpetuate their race by means of free and momentary "love".

Crows and pigeons

 Others, such as crows and pigeons do create a family in the form of couples, yet, even if the male helps in the construction of the nest, every member of the couple depends on its own gain for its livelihood. Perhaps the most developed social co-operation is found among bees, ants and termites (white ants): they live in a collective way, with complete equality in livelihood, yet without any competition among its members, and consequently it is not possible for the more intelligent or more industrious bee to live more comfortably than others. For this reason there is neither evolution nor change, much less progress in any of these species, as against the human race. The past history of man shows that every advance and every discovery of the means of comfort came into existence through competition and desire for amelioration, and also through the existence of grades of wealth or poverty among men, one above the other. Yes, the absolute liberty would lead devilish men to exploit the needy, and ooze them out gradually.

Civilization

So it was necessary for every progressive civilization and every healthy culture to impose certain duties on its members (such as the order to pay taxes, the interdiction of having recourse to oppression and cheating, etc.), and to recommend certain supererogatory acts (like charity and expenditure for the sake of God), yet nevertheless, to have a great deal of liberty of thought and action to its members, so that each one benefits himself, his family, his friends and the society at large. This is the exigency of Islam, and it also conforms to nature.

Fundamental principle

It is on the basis of this fundamental principle that Islam has constructed its economic system. If it tolerates the minority of the rich, it imposes on them heavier obligations: they have to pay taxes in the interest of the poor, and they are prevented from practicing immoral means of exploitation, hoarding and accumulation of wealth. For this end there will be some orders or injunctions, and also some recommendations - for charity and sacrifice -with the promise of spiritual (other worldly) reward. Further, it makes, on the one hand, a distinction between the necessary minimum and the desirable plenitude, and on the other hand between those orders and injunctions which are accompanied by material sanctions and those which are not so, but for which Islam contents itself with persuasion and education only.