Economy in Quran

Quran and economy (like the discussions of Quran and education) include expanded discussions. In other words, there are about 900 economic verses in the holy Quran. Since this writing is brief, we suffice to present the main addresses and titles, and more research is left to addressees.

1. The Conceptualism

Different definitions have been presented for the economy, but the knowledge of the economy is one of fields of social science which discusses about human’s behaviours in the area of economic activities and their interpretation at the present and in the future. Its territory includes production, distribution, and consumption. Different discussions about the economy have been presented such as: the philosophy of the economy, the economic school, the economic system, economic rights and economic behaviour models.
BACKGROUND:
A lot of books and articles have been written about the Islamic economy that includes Quranic discussions and about the economy in the Quran. And even the specialized magazine of "Islamic economy" has been published.
The purposes of the economy in the holy Quran:
The purposes of the economy in the holy Quran are defined on the purposes of the world creation, the purposes of human creation, and purposes of the Quran descent. Therefore, economy is settled in the direction of those purpose and it is a way to achieve those elevated purposes (such as: meeting God, God’s knowledge…)
From the verses of the holy Quran can be used that the economy is not gathering wealth, but it is preliminary step to achieve the elevated purposes.
* يَأَيهَُّا الَّذِينَ ءَامَنُواْ إِنَّ كَثِيرًا مِّنَ الْأَحْبَارِ وَ الرُّهْبَانِ لَيَأْكلُُونَ أَمْوَالَ النَّاسِ بِالْبَطِلِ وَ يَصُدُّونَ عَن سَبِيلِ اللَّهِ وَ الَّذِينَ يَكْنزُِونَ الذَّهَبَ وَ الْفِضَّةَ وَ لَا يُنفِقُونهََا فىِ سَبِيلِ اللَّهِ فَبَشِّرْهُم بِعَذَابٍ أَلِيمٍ(
(Tubah, verse34): O you who believe! Surely many of (Jewish) scholars and (Christian) monks do consume people’s wealth to no good purpose and they hinder them from Allah’s way. And those who pile up gold and silver, and do not spent it in the way of Allah, in from them of a painful punishment.
However, the economic purposes in the holy Quran can be classified into two categories:
A) Distinguished purpose
Preparation of the human to do divine duties
قُلْ مَنْ حَرَّمَ زِينَةَ اللَّهِ الَّتىِ أَخْرَجَ لِعِبَادِهِ وَ الطَّيِّبَاتِ مِنَ الرِّزْقِ قُلْ هِىَ لِلَّذِينَ ءَامَنُواْ فىِ الْحَيَوةِ الدُّنْيَا خَالِصَةً يَوْمَ الْقِيَامَةِ كَذَالِكَ نُفَصِّلُ الاَْيَاتِ لِقَوْمٍ يَعْلَمُونَ
Aʻrāf, verse32): say; who has forbidden the adornment of Allah which he has brought for his servants, and the good thing of his provisions? Say, these are for faithful in the life of this world, and purely for them on the day of resurrection. Thus we explain the verses for a people who have knowledge.
B) Preliminary purposes:
The economic independence and authority (power): this subject matter can be obtained from all of the verse:
وَ أَعِدُّواْ لَهُم مَّا اسْتَطَعْتُم مِّن قُوَّةٍ وَ مِن رِّبَاطِ الْخَيْلِ تُرْهِبُونَ بِهِ عَدُوَّ اللَّهِ وَ عَدُوَّكُمْ وَ ءَاخَرِينَ مِن دُونِهِمْ لَا تَعْلَمُونَهُمُ اللَّهُ يَعْلَمُهُمْ وَ مَا تُنفِقُواْ مِن شىَ‏ْءٍ فىِ سَبِيلِ اللَّهِ يُوَفَّ إِلَيْكُمْ وَ أَنتُمْ لَا تُظْلَمُونَ
(Anfāl, verse60): and prepare against them, what you can of armed forces and strong horses, in order to frighten the enemy of Allah and your enemy. And others besides them, whom you do not know, but Allah knows them and whatever you spend in the way of Allah will be repaid to you in full, and you shall not be dealt with unjustly.
The circulation of wealth and public convenience (development and growth):
كىَ‏ْ لَا يَكُونَ دُولَةَ بَينْ‏َ الْأَغْنِيَاءِ مِنكُمْ
(Hashr, verse7) : ….so that they do not circulate among the rich among you
a. The prohibition of piling up wealth (Tubah, verses 34-35);
b. The prohibition of usury (Baqarah, verses 9 and 278);
c. Flourishing the land (Hood, verse61)
Removing the poverty:
a. The legislation of one-fifth (khums) (Anfāl,verse 41);
b. The legislation of alms (Zakāt) (Baqarah,verse110);
The protection and distribution of booties (Anfal, verse1and Hashr, verse7);
c. The division of inheritance (Nesa,verse 7);
d. Encouraging people to charity and donation (Baqarah, verse5);
وَ فىِ أَمْوَالِهِمْ حَقٌّ لِّلسَّائلِ وَ المَْحْرُومِ
Dhārīyāt, (verse19): and there was a share in their wealth for the beggar and the deprived.
The performance of the economic Justice:
لِيَقُومَ النَّاسُ بِالْقِسْطِ
a. “( Hadid, verse25): … so that people may maintain Justice;
Arranging the economic relations:
a. The arrangement of debt (loan) (Baqarah, verse 285);
b. Specifying the legal and illegal contacts ( Baqarah,verse275))
The foundations of the economy in the holy Quran:
The foundations of cosmology, anthropology, and epistemology of the Quran are effective here. Since these foundations have been expressed in the discussion of Quran and education, we will not repeat them here and just some special foundations of the area of economy have been referred.
a. The true ownership is for God and people’s ownership is conventional and people are God’s successor to manage properties. Hence, God orders in economy however he wants and people should obey his orders.
أَ لَمْ تَعْلَمْ أَنَّ اللَّهَ لَهُ مُلْكُ السَّمَاوَاتِ وَ الْأَرْضِ وَ مَا لَكُم مِّن دُونِ اللَّهِ مِن وَلىِ‏ٍّ وَ لَا نَصِيرٍ
(Baqarah, verse107): do you not know that to Allah the kingdom of the heavens and the earth? And besides Allah you do not have any guardian or any helper''.
ءَامِنُواْ بِاللَّهِ وَ رَسُولِهِ وَ أَنفِقُواْ مِمَّا جَعَلَكمُ مُّسْتَخْلَفِينَ فِيهِ فَالَّذِينَ ءَامَنُواْ مِنكمُ‏ْ وَ أَنفَقُواْ لهَُمْ أَجْرٌ كَبِيرٌ
(Hadīd, verse7): believe in Allah and his messenger, and spend out of what he has made you successors: for those who believe and spend (in Allah’s way), there will be a great reward for them.
b. The ownership and properties value have been accepted in the holy Quran. Therefore, some topics (such as: inheritance, mulct (blood money), selling, donation), etc…are correct.
c. The human’s role in the interests of the world
هُوَ الَّذِى خَلَقَ لَكُم مَّا فىِ الْأَرْضِ جَمِيعًا ثُمَّ اسْتَوَى إِلىَ السَّمَاءِ فَسَوَّئهُنَّ سَبْعَ سَمَاوَاتٍ وَ هُوَ بِكلُ‏ِّ شىَ‏ْءٍ عَلِيمٌ
Baqarah,verse29): it is he created for you all that is in the earth, then he turned (directed) to the heavens, and fashioned it into the seven heavens, and he has knowledge of all things.
The welfare life and accumulating wealth are forbidden and they cause human's insurrection. (Tubah, verses 34-35/ Qiṣaṣ, verse58/Asraverse17/Mu’minūn, verse64/and ʻAlaq, verse 66-7)
1) The abundance of God’s blessings and the infinity of economic sources
وَ ءَاتَئكُم مِّن كُلّ‏ِ مَا سَأَلْتُمُوهُ وَ إِن تَعُدُّواْ نِعْمَتَ اللَّهِ لَا تحُْصُوهَا إِنَّ الْانسَانَ لَظَلُومٌ كَفَّارٌ
(Ibrāhīm, verse34): and he gave you all that you had asked him. If you enumerate Allah's blessings, you will not be able to count them. Surely, human is most unjust and very ungrateful.
وَ إِن مِّن شىَ‏ْءٍ إِلَّا عِندَنَا خَزَائنُهُ وَ مَا نُنزَِّلُهُ إِلَّا بِقَدَرٍ مَّعْلُومٍ
(Hijr, verse21): and there is nothing but with us are the stores and sources thereof but we do not send it down except in a known measure. .”
The sustenance (daily bread) security of the all creatures in the world of being:
2) The economic principle of the holy Quran:
Some expanded principles can be deduced from the holy Quran which dominates on the whole economy, and makes school and the economic system of Islam distinctive.
The economic development and growth with justice::3)
The holy Quran does not want more wealth and more economic profit that cause class distinctions, but economic development and growth that are accompanied with desirable justice.
The economic development with the growth of divine and ethical values:
Therefore, the holy Quran emphasizes on money loaned without interest (Baqarah, verse245), goodness (Baqarah, verse177), almsgiving (Baqarah, verses, 3 and 215) and sacrifice (Hashr19).
The prohibition of usury in the economy:
From the point of view of the holy Quran, capital is means of production and employment. Hence, it should not be stored like treasure or it becomes a way to usury that is a great impediment to the economic growth.
يَأَيُّهَا الَّذِينَ ءَامَنُواْ اتَّقُواْ اللَّهَ وَ ذَرُواْ مَا بَقِىَ مِنَ الرِّبَواْ إِن كُنتُم مُّؤْمِنِينَ
فَإِن لَّمْ تَفْعَلُواْ فَأْذَنُواْ بِحَرْبٍ مِّنَ اللَّهِ وَ رَسُولِهِ وَ إِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَ لَا تُظْلَمُونَ
(Baqarah, verses 278-279): O you who believe! Be wary of Allah, and relinquish what remains of usury, if you are believers* if you do not give up, then be informed of a war from Allah and his messenger. And if you repent, then you will have your principal, neither you deal unjustly (with others) and nor you will be dealt with unjustly.
يَوْمَ يحُْمَى‏ عَلَيْهَا فىِ نَارِ جَهَنَّمَ فَتُكْوَى‏ بِهَا جِبَاهُهُمْ وَ جُنُوبهُُمْ وَ ظُهُورُهُمْ هَذَا مَا كَنزَْتُمْ لِأَنفُسِكمُ‏ْ فَذُوقُواْ مَا كُنتُمْ تَكْنزُِونَ
(Tubah,verse35): on the day when that gold and silver will be heated in the fire of Hell, then their foreheads and their sides and their backs will be branded with them ( gold and silver), (and will be said to them): "this is the treasure which you piled up for yourselves! Therefore taste what you have treasured. !”
The moderation in the economy:
الْمُنَافِقُونَ وَ الْمُنَافِقَاتُ بَعْضُهُم مِّن بَعْضٍ يَأْمُرُونَ بِالْمُنكَرِ وَ يَنهَْوْنَ عَنِ الْمَعْرُوفِ وَ يَقْبِضُونَ أَيْدِيهَُمْ نَسُواْ اللَّهَ فَنَسِيهَُمْ إِنَّ الْمُنَافِقِينَ هُمُ الْفَسِقُونَ
(Furqān, verse67): and those who, when spending, are neither wasteful nor tightfisted, and hold moderation between the two extremes.
وَ لَا تجَْعَلْ يَدَكَ مَغْلُولَةً إِلىَ‏ عُنُقِكَ وَ لَا تَبْسُطْهَا كلُ‏َّ الْبَسْطِ فَتَقْعُدَ مَلُومًا محَّْسُورًا
(Asrā’, verse 29): do not keep your hand chained to your neck, nor be extravagant in spending your earning that out of poverty, so that you will sit blameworthy and regretful.
The ownership is compound:
It means that the holy Quran has confirmed the governmental ownership (such as: dowry) and public ownership (such as: one-fifth (Khums), and alms (Zakāt)) and individual ownership. Therefore, the interference of right of the government has been accepted in the economy.
The economic freedom in the religion framework:
It can be inferred from the holy Quran which the basis of freedom of production, distribution, consumption, and their ownership has been accepted, but there are limitations and prohibitions in each area.
The prohibition of usury, "Baqarah, verse275… While Allah has allowed trade and forbidden usury.
The prohibition of bribery (Baqarah, verse188)
The prohibition of unlawful meats (Baqarah, verse173))
The prohibition of dissipation and extravagance (Asrā’, verse37))
Of course, some prohibitions (in production, distribution, and consumption have been presented in the tradition.
The cooperative method in the desirable economy:
يَأَيهَُّا الَّذِينَ ءَامَنُواْ لَا تحُِلُّواْ شَعَئرَِ اللَّهِ وَ لَا الشهَّْرَ الحَْرَامَ وَ لَا الهَْدْىَ وَ لَا الْقَلَئدَ وَ لَا ءَامِّينَ الْبَيْتَ الحَْرَامَ يَبْتَغُونَ فَضْلًا مِّن رَّبهِِّمْ وَ رِضْوَانًا وَ إِذَا حَلَلْتُمْ فَاصْطَادُواْ وَ لَا يجَْرِمَنَّكُمْ شَنََانُ قَوْمٍ أَن صَدُّوكُمْ عَنِ الْمَسْجِدِ الحَْرَامِ أَن تَعْتَدُواْ وَ تَعَاوَنُواْ عَلىَ الْبرِِّ وَ التَّقْوَى‏ وَ لَا تَعَاوَنُواْ عَلىَ الْاثْمِ وَ الْعُدْوَانِ وَ اتَّقُواْ اللَّهَ إِنَّ اللَّهَ شَدِيدُ الْعِقَابِ
“(Ma'ʻidah, verse2): O you who believe! Do not violate Allah's sacrament, neither the sacred month, nor the offering, nor the necklaces, nor those bound for the sacred house who seek their Lord’s grace and (his) grace. But when you emerge from pilgrim sanctity, you may hunt (for game). And let not hatred of a people because they hindered you from the sacred Mosque (Masjid) to transgress. Cooperate in piety and God’s wariness, but do not cooperate in sin and aggression, and fear from the disobedience of Allah's commands. Verily Allah sever in retribution.
The human's duty is to flourish the land:
* وَ إِلىَ‏ ثَمُودَ أَخَاهُمْ صَلِحًا قَالَ يَاقَوْمِ اعْبُدُواْ اللَّهَ مَا لَكمُ مِّنْ إِلَاهٍ غَيرُْهُ هُوَ أَنشَأَكُم مِّنَ الْأَرْضِ وَ اسْتَعْمَرَكمُ‏ْ فِيهَا فَاسْتَغْفِرُوهُ ثُمَّ تُوبُواْ إِلَيْهِ إِنَّ رَبىّ‏ِ قَرِيبٌ مجُِّيبٌ
(Hūd, verse61): and to Thamoud (we sent) their brother sālih, he said, O my people! Worship Allah. You have no other god besides him. He brought you forth from the earth, and made it your habitation. So plead with him for forgiveness, and then turn to him. Surely my Lord is nigh and answers prayers (invocations).
Result:
If the mentioned Quranic principles (along with foundations and mentioned purposes of the Quran) be performed in the economy, the balanced divine economy and justice will be formed which are neither socialism economy nor capitalism one.