Should we give more money to GM? Is Citibank the missing link in our path to recovery? Will we fix everything by solving the mortgage crises? If we gave every American ten more dollars every month, would that fix the economy?
We see questions like these every few decades and in various locales. Responses range from Nazism to communism; from socialism to unbridled capitalism; from the “new deal” to the “tax cuts”. Are these enduring philosophies?
Islam provides the only comprehensive and permanent solution to today’s financial woes that addresses our psychological deficiencies, our moral decadence, and certain aspects of our policies.
Greenspan stated in a recent interview that “the innate human responses result in swings between euphoria and fear that repeat themselves generation after generation with little evidence of a learning curve”. Interestingly Islam tells us that unbridled capitalism will lead to our destruction (102:2-3). Our political leaders should ponder over this and understand that we need effective regulations to ensure that such forces do not run amuck.
Islam leaves room for free enterprise but rejects the flawed view that “money begets money.” Many of the billionaires listed in Forbes attribute their wealth to “investments.” While we need institutions to facilitate the circulation of wealth, we cannot let this be an end in itself. Making this the goal divorces the investors from the art of making a profit through entrepreneurial activities and instead results in financial catastrophes, such as the current mortgage meltdown.
Usury is forbidden in Islam. Economists suggest that such vehicles are an essential component of the overall system but Islam cautions us that it will lead to our destruction. It is interesting to see how we lower interest rates to rejuvenate the economy without acknowledging, as Islam does, the need to abolish it completely (2:276,277,280). Such interest encourages the hoarding of wealth and other reckless activity.
Islam rejects the practice of gambling (2:220). In modern times, unfortunately, this has taken center-stage in our economic system; from individuals who borrowed “betting” that their home will go up in price to banks who “gambled” on individuals paying, to the idea of selling that “risk” to other banks; is but a game of dice.
Islam emphasizes the circulation of wealth and suggests that uncirculated wealth should be taxed. Islam understands the need for such cash reserves, but for the greater good of the society, suggests that such money be appropriately taxed. The main beneficiary of such a tax should be the poor – those who did not enjoy the luxury of having such cash reserves.
Islam lays great importance to “straight talk” or saying the “right word” (33:71). In business one may be legally truthful while still being deceptive. Several banks violated this principle when they offered loans to those who could not afford it. Then they carried on their deception when they sold those bad loans to other institutions.
Finally, Islam presents our life as a struggle between God and the world and establishes God as the purpose of our lives (51:57). Rejecting God puts us at the mercy of our vain pursuits including that of accruing wealth (57:21). Islam teaches us to control our desires and to reign in our jealousy regarding material wealth (20:132). These verses caution those who borrow beyond their means.
Islam offers a unique approach for addressing today’s crisis. It focuses on the disease rather than the symptoms. This disease can deteriorate into Nazism, Communism, Radicalism, and chaos – so we need to address this positively and without preconceived notions.
A comprehensive translation of the Quran may be referenced at http://www.alislam.org.
Sunday, December 06, 2009
Talibanization of the Swiss
by
Saad Ahmad
Can Talibanization be narrowly defined as a specific dogma or set of rituals; or does it personify a more subtle and deep-rooted trouble with diversity? I think it is the latter and as such Taliban of Afghanistan have more in common with Hitler’s Nazis than with any other sect or religion. Such intolerance may manifest itself more brutally in poorer societies and may take the form of a “vote” in more “civilized” societies but at the end it is based on the same core set of values – or lack of them.
Just when we think that we have moved far enough from the horrors of holocaust, Europe reminds us that they are still quite capable of repeating it. Whether it is the French ban on certain forms of Muslim dress, German “contracts” for integration, and now to top it – the Swiss “vote” against buildings of a certain architectural characteristic: (http://www.cnn.com/2009/WORLD/europe/11/29/switzerland.minaret.referendum/index.html) – they all stem from the same underlying hostility that Europeans have often shown to their own brethren. Centuries ago it took the form of black death, then it looked like holocaust and in a few decades it will probably result in an effort to expel Muslims.
Sure, Swiss will try to disguise their utter intolerance as “democratic process” but let us not forget that even Nazis came to power in a sort of democratic exercise. This word does not cover the underlying hatred that people may feel about another group. Some will quickly start comparing this to how churches are treated in Muslim countries – thus proving the point that these European countries are striving to become Saudi Arabia and not a free and open society like US.
One has to wonder what the real difference is between banning a certain form of architecture, as the Swiss did; or destroying it after the fact; as done by Taliban with the various Budha’s statues? Both stem from the same underlying hostility and show how Swiss have much in common with the Taliban. Not too far from Switzerland France showed the same hostility earlier by banning certain forms of dress for Muslim women. So the only difference between them and Taliban is with respect to fashion preference. Overall the world needs to be very concerned about what is going on over there because it is entirely possible that in a few decades, US will be called on once again to clean up their mess. US needs to tell Europe in clear terms to clean up their mess and reign in these forces which are turning the clock back for Europe.
A minaret itself is of no significance in Islam. A mosque is a place of worship and is quite complete without such architectural enhancements. What should be troubling is the trend of intolerance that is growing rapidly in Europe. The people who want to cover themselves a certain way in France or want to build their places of worship a certain way in Switzerland are born and bred in those countries. How is the behavior of these “enlightened” countries any different from the Taliban in Afghanistan who wanted to impose their “sharia” on their citizens. It is these attitudes which when left unchecked lead to the wide spread hostilities later on and may even lead to another holocaust and then people would wonder how they missed the signs!
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