SOME IMPLICATIONS OF THE QURANIC MESSAGE FOR THE ECONOMIC SYSTEM

By: rab_abdur@yahoo.com

(O mankind!) Give full measure; and be not of those who give less. And weigh with right scales. And wrong not men of their things (or rights), and act not corruptly in the earth, making mischief. –Shu’ara (26): 181-183

Introduction

Some might question if economics or an economic system has anything to do with religion. Yet, it is instructive to see if religion has anything to offer in this regard. Religion provides normative guidance and inspiration to man to be true and honest in all respects, to be good to others and to do justice in all of his dealings, including economic dealings. We do need to translate the concept of justice as proclaimed by religion in the conduct of ourselves in all affairs, including economic activities and transactions. And, for maintaining equity and ensuring special humanitarian treatment of disadvantaged groups, religion offers not only inspiration but also specific guidelines. Overall, we get broad guidelines from religion for conducting our economic affairs. Everything cannot perhaps be specifically spelled out by religion. God repeatedly exhorts us in the Quran to reflect on His message, and apply our sense [Sad (38): 29; Yunus (10): 24; Muhammad (47): 24; Zumar (39): 27; Hashr (59): 21]. This highlights the need for efforts to interpret the Quranic message carefully and appropriately to work out its implications in various areas.