Islamic Economic System
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From which, its obvious it talks of booty obtained after war, Unless all of these translation are wrong.
2 questions please
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Show us where the words 'in war' appears
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Tell us why the words 'in war' appears in paranthesis.
Like I have repeated many times, I do not know arabic and so rely on english translation. This is what all the translations say. And in some of the translations, the word 'war' doesnt appear in paranthesis.
And one reason I can think, that slides the verse towars war is becoz, I understand its from the chapter '' Al-Anfal (The Spoils of War)'' and the chapter deals exclusively on the subject.
Peace!
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Like I have repeated many times, I do not know arabic and so rely on english translation. This is what all the translations say. And in some of the translations, the word 'war' doesnt appear in paranthesis.
But it doesn't in others (yusuf ali and asad) for a reason. Its not there.
And one reason I can think, that slides the verse towars war is becoz, I understand its from the chapter '' Al-Anfal (The Spoils of War)'' and the chapter deals exclusively on the subject.
How does the chapter deal 'exclusively with the subject' ? The second through fourth verses already speak of the characteristics of mumeena haqqa which isnt war. Even the word 'anfaal' has been used in al-quraan itself in 17/78 for example where it doesnt mean war spoils.
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. Even the word 'anfaal' has been used in al-quraan itself in 17/78 for example where it doesnt mean war spoils.
What does 'al-anfal' mean then?
And I find the verses of this chapter, do speak of war.
Peace!
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Well, translations aren't neutral. Your very choice of words can determine the perception of the reader. To say 'cohabit' and 'dwell together' amounts to the same thing but they evoke different reactions.
Translations however, in my experience cannot stand in the face of al-quraan's own tafseer methodology. I have seen false interpretations fall flat in the face of al-quraan's own explanation. When you say 'far more ethical', you're making a value judgement and if i may say so, this would hamper your engagement with al-quraan.
I am in broad agreement. however evry one makes a valued judement just as you ave judgged it will hamper my engaggement with Quran (however let us leave this at present I have no wishh to engage in this as detailed discussion)
They don't advocate slavery, they have no program to abolish slavery.
Capitalism is an economic system not rules for anything-your statement
A ribaa based society is where the murabis/practitioners keep their slaves under constant bondage and refuse them emancipation
i tout implied tat capitalism was about slavery. Now I see you did not mean this then that us fine.
Would you mind showing where any capitalist thinker proposed this please
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I am not interested in individual capitilistic-merely that system has rules according to its own ethics. I will give you one simple exampleinsider trading is that not an ethhical rule?It means, if you live in al-madeenah, you give 1/5 of ur profits to Allah and His messenger
Fine. I presume you give 1/5 of your profits to Allah and his messenger.
salamm Idris
another thing, before you start replying you have yet to bring any verses to show capitalism is supported in the reading/quran, just thought i would remind you
does this not count
For me Islam does not forbid business-same as capitalism
Islam does not prohibit profit-same as capitalism
Islam does not put a limit on profit-same as capitalism
Islam advocates zakat-a good capitalist system will have robust welfare system paid by taxes(amount is determined by earning) appears very similar to me.Anyhow I do not recall saying Quran advocates capitalism by name but questioning the assumption that Quran opposes capitalism and so far I have not been convinced.
True, some do, especially in European countries, but the welfare state has not always been prevalent
On that basis you could say same about the Quran-what abou 1400 yrs old. It is all relative really.
and in many Third World countries where neoliberalism (extreme capitalism) is enforced by the World Bank/IMF/WTO along with SAPs there is no trace of a welfare, in theory capitalism is a free market system and government interference in economic matters goes against the heart of capitalism
It could be actually argued thhat it is exreme religion in these countries that is being practiced.
God's system is a good alternative, if you think not we can get into some participatory economics and many alternatives that I know of
Gods system sounds great, who can argue with that in this forum but please explain the detail or as I said previousouly is Gods system against
Free trade or business
Against profit
Puts limit on Profit etcExactly, capitalists will not sign laws that change the system but merely reform it from within, the system itself is based on exploitation
Laws are made by goverments and I dont know where these laws do not exist.
Regards- will continue Have to go -
peace stillearning
Anyways enough of this, in the next thread can define for me the basic principles of capitalism using a unanimous text which it abides by (i suggest Adam Smith but even this is disputed)? if you cant do this then I will state the basic principles of capitalism which are abided by today by most capitalists
does this not count
For me Islam does not forbid business-same as capitalism
Islam does not prohibit profit-same as capitalism
Islam does not put a limit on profit-same as capitalism
Islam advocates zakat-a good capitalist system will have robust welfare system paid by taxes(amount is determined by earning) appears very similar to me.Yes but saying a system doesn't forbid something doesn't include it as a dependent part of the system
Anyhow I do not recall saying Quran advocates capitalism by name but questioning the assumption that Quran opposes capitalism and so far I have not been convinced.
Well, thats why we have tons of thread space to keep discussing, hopefully this debate will have productive results for us all
On that basis you could say same about the Quran-what abou 1400 yrs old. It is all relative really.
God's system has always existed though, I was merely arguing how the welfare state isnt an inherent part of capitalism, not the length of capitalism's existance
It could be actually argued thhat it is exreme religion in these countries that is being practiced.
I guess but it actually reflects the basic fundamentals of capitalism which are extreme, wahabism can be considered extreme sunnism but sunnism doesnt reflect the basic principles of God's system
Btw define capitalism for me and give me a standard text by which it unanimously abides, if it doesnt abide by any unanimous text than we are arguing a theory whose basic principles arent even established
Gods system sounds great, who can argue with that in this forum but please explain the detail or as I said previousouly is Gods system against
Free trade or business
Against profit
Puts limit on Profit etcThe problem is that merely making profit is not abasic principle of capitalism, many other economic systems such as anarcho-communism adhere to this but the nature of the profit and the trade are completely different, what is free trade? the freedom to trade how you please? obviously the reading/quran does not adhere to this and neither do most capitalist countries, but neoliberalism does and long as pre-welfare state capitalism of the 19th century which has come back in the 1980s
Laws are made by goverments and I dont know where these laws do not exist.
Laws are made by governments which are made by/for capitalists D
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From all these verses, I deduce that Allah asks us to give of how much ever we can(after our needs are met/excess) in charity. There is no specific mention of what excess is or how much we should give. But the more we give, the better. And we are encouraged to give more.
50% of the excess , in my opinion (2567). neither too much , nor too less . 50% would be perfect moderation .
http//rationalreality.50webs.com/interest.htm
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salaam Idris
peace stillearning,
any response?
I really want this debate to get going
My friend so far it has been a pleasure to involved in discussion with you (very civilised) but be please be patient I have very limited time and often respond in hurry with few snatched minutes here and there hence numerous mistakes. I have just returned from a day journey of almost 1000 miles and very tired.
I think we have not really defined what capitalism means to each of us, therefore we may not necessarily be discussing the same thing.
For me capitalism is quite simply for any individual or a group of individuals to carry out a legitimate trade without any restriction on how large and vast that trade is. as far as legitmacy is concerned that has to be defined by each society as it sees it appropriate. Obviousouly an Islamic society will determine what is legitimate according to its own values.
(Incidentally there is no absolute free society and as far as I can see it never can be as evry society has to be governed by some form of rules)I think it will help as to how you define capitalism
regards -
salaam
50% of the excess , in my opinion (2567). neither too much , nor too less . 50% would be perfect moderation .
It is just your opinion. Quran does not mention 50%. Excess is matter of personal opinion.
I am still awaiting for someone to explain the economic system according to Quran.
reards -
I am still awaiting for someone to explain the economic system according to Quran.
If you're waiting for supply and demand curves, you're in for a long wait, im afraid. Al-quraan dictates its information on its own terms and doesn't comform for most if not all academic systems.
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If you're waiting for supply and demand curves, you're in for a long wait, im afraid. Al-quraan dictates its information on its own terms and doesn't comform for most if not all academic systems.
and how does explain the economic system according to the Quran?
regards
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peace stillearning,
My friend so far it has been a pleasure to involved in discussion with you (very civilised) but be please be patient I have very limited time and often respond in hurry with few snatched minutes here and there hence numerous mistakes. I have just returned from a day journey of almost 1000 miles and very tired.
k sorry
I think we have not really defined what capitalism means to each of us, therefore we may not necessarily be discussing the same thing.
For me capitalism is quite simply for any individual or a group of individuals to carry out a legitimate trade without any restriction on how large and vast that trade is. as far as legitmacy is concerned that has to be defined by each society as it sees it appropriate. Obviousouly an Islamic society will determine what is legitimate according to its own values.
(Incidentally there is no absolute free society and as far as I can see it never can be as evry society has to be governed by some form of rules)I think it will help as to how you define capitalism
Capitalism is more than just legitimate trade, I might add that unrestriction on the size and vastness pf businesses leads to monopolies which have bad results for domestic business as well as many other problems, also it may lead to predator multinationals destroying the economies of other nations by the domestic economies being unable to compete, even many capitalist countries have restrictions on the size and vastness of businesses, but I'm afraid you're merely touching on an uninformed and restricted view of what capitalism is, let me split it up into three sections
- Means of Production
- Distribution of wealth
- Capital vs. Labor
Means of Production
"Means of production" usually applies to land or commons being converted to natural resources, and to that infrastructural capital which is not owned strictly in common but is applied to make "goods".
The tools (instruments) and the raw material (subject) you use to create something are the means of production.
If we examine the whole process from the point of view of its result, the product, it is plain that both the instruments and the subject of labour, are means of production, and that the labour itself is productive labour.
Capitalism is the privitization of the means of production into the hands of a few, those who own and trade in means of production as capital assets, and who hire workers to work for them, using those means of production. As property owners they can obtain a profit from the work of his employees because the value of output exceeds the outlay on wages and materials. Therefore, the capitalists obtain a surplus value from the work of his employees which as I have shown constitutes exploitation
All value inherited in commodities stems from labor, as opposed to capital. i.e. if one were left to his whims in the wilderness with only his labor to live by, he would be able to forge tools to create capital with, and thus an endless supply of wealth. If this man were a capitalist on the other hand, and tried to survive without working, he would be dead in a matter of days. Because capital alone is not enough to create wealth, you can see that labor alone IS enough to create wealth
Say for instance that a worker assembles simple toys in a capitalist's factory for $5 per hour. Let us imagine the worker combines 2 plastic pieces, which cost the capitalist $1 each, to create the toys. The worker creates ten new toys per hour, so the capitalist has put forward $25 to create ten new toys. Now the capitalist makes the toys available for sale for $3 each, so that he receives $30 for the 10 toys. From this we see that the materials to create ten toys cost the capitalist $20, and the labor-power of the worker cost the capitalist $5, so he received a profit of $5.*
Where does this profit come from? It comes from the exploitation of the worker! If the twenty plastic pieces alone were only worth $20, how then could the completed toys be sold for $30? What increased the value of these plastic pieces? It was the labor-power of the worker, which turned the raw materials into a new commodity. From this we see that the labor-power of the worker added a value of $10, but the worker was only played $5 for her hour of labor-power. Her labor-power was sold as a commodity to the capitalist, in hour increments, just as the plastic is sold to the capitalist in pieces.
What's unique about the labor-power of the worker is that it is the only commodity which creates new value. Therefor we see that the worker is exploited for her labor-power, the necessary commodity in all creation of value, and only receives a share of the value she has created. Now the worker who created 10 toys in one hour, can only afford to buy 1 of them with the $5 wage she received.
With this constant exploitation, the working class receives only enough of a share of the value it creates to keep it in working, and reproducing, condition. That is, to keep the workers alive, with enough wealth to create new workers.
In capitalism, the capitalists (owners of capital) own the means of production, in socialism they are controlled by an elected government of people's representatives, in communism they are controlled collectively by the people themselves, in God's system God owns the means of production, inherits them according to His law (to the salih/righteous people 712, who utilize them for the good of humanity, NOT to those who own the capital to utilize for private gain
Verses Standing for Means of Production for the Common Good
558 So that you, too, never violate balance in your lives.
559 Therefore, establish Balance in the society in absolute justice. And never belittle the Scale of Justice in the community and in all your transactions with your own ?Self? and with others.
5510 And (know that) the earth He has spread out for all His creatures. ('Anam' = All living beings).4110 And He it is Who placed therein firm mountains towering above it, and bestowed enduring Bliss upon it. And He measured therein its sustenance in Four Seasons, alike for all who (invariably) need it. (3967, 5663-73).
5663 Have you thought of the crops that you cultivate?
5664 Is it you who grow it or are We the Grower?
5665 If We willed, We surely could turn it into chaff, then you would be left to exclaim,
5666 ?Behold, we are now under debt.
5667 Nay, but we are deprived!?
5668 Have you thought of the water you drink?
5669 Do you bring it down from the rain-cloud or do We?
5670 If We willed, We surely could make it salty. Why, then, do you not show gratitude? (By devising an equitable system of provision for all).
5671 Did you consider the fire you strike out?
5672 Is it you who grow the tree as its fuel, or do We grow it? (4110).
5673 We, yes, We have made this (fire) a reminder, and a gift for all of you who surely need it. (The use of fire is one of the Divine gifts that distinguishes mankind from the Animal Kingdom).773 The people of Thamud were successors to Aad. To them We sent their brother, Saleh. He said, ?O My people! Serve Allah. You have no other god but He. The Clear Truth has come to you from your Lord. This is the she-camel of Allah, a token for your obedience. So let her feed in Allah?s earth and do not harm her lest painful torment seize you.? (Their feudal lords controlled land, crop, oases and water resources, and the weak were suffering. Saleh assigned a she-camel as a symbol of their reformation).
774 Saleh said, ?Remember how He made you inherit the land after Aad and established you therein. You build castles in the valleys and carve out homes in the mountains. So, remember Allah?s bounties and do not spread corruption in the land.?
775 Their leaders said to the believers, "How do you know that Saleh is sent from his Lord?" They responded, "We believe in the Message he has brought.? (The bringer of such Sublime Message cannot be a liar).
776 (The arrogant leaders and the feudal lords could see their vested interests getting hit, so they decided to reject the Divine Message.) The arrogant ones said to the believers, ?We reject what you believe in.?
777 They killed the she-camel, rebelled against their Lord?s Command and challenged, ?O? Saleh! Bring the doom you threaten us with, if you are really a Messenger.?1164 (The feudal lords had been depriving the poor of using the land and its natural resources of water and vegetation.) Saleh said, ?O My people! This she-camel belonging to Allah shall be a token for you. So leave her alone to graze in the land belonging to Allah. Do her no harm, lest speedy punishment befall you (9113).? (This verse along with 5510 pronounces one of the most revolutionary concepts of the Qur?an. The land, the earth is owned by none but Allah and must be open for all His creation as a means of sustenance. Hence, all landlord-ship is contrary to the Divine Ordinance. In the Divine System, the Central Authority will see to it that any piece of land will be for those who toil in it and give Allah His Right, the poor-due 6141).
? The earth and all its resources belong to Allah. It is such an obvious fact that no one can deny it (612, 1031, 2961 &63, 3125, 3424, 3910 &38, 439).
? Allah is the inheritor of the earth (1940).
? The earth has been created for the benefit of all (5510).
? It has been created to provide nourishment for all (5673).
? To Him belongs all that is in heavens and the earth, ?La hu ma fissamawati fil ardh? (2116, 2255, 4171, 540, 142, 1652, 206, 2264).
? ?Lillahi ma fissamawati fil ardh? (2284, 3109, 3129, 4131,132, 540, 1055, 1067, 142, 1652, 206, 2119, 341, 424, 4253, 5321).
? ?Lillahi miraathus samaawaatti wal ardh? (3180).
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- Distribution of wealth
In capitalism, initial distribution of wealth is determined by the free-market and competition which is based on an uneven level in the first place (inequality in ability, intelligence, opportunity, inheritance, etc.), its a sort of casino actually, those who accumulate the capital control the means of production which increases their profit through the labor of others who produce using the means of production the capitalists control, the main purpose of capitalism is to accumulate capital so voluntary distribution of excess to create perfect equality is not only extremely unrealistic, but a laughable fantasy, one needs to only look at the extreme inequality of capitalist societies today to know this, even if the initial society plan in capitalism was equality of wealth it would never work as the individual race for profit is worshipped in capitalism, the capitalists will never give up their personal wealth for the good of humanity/the community
What the reading/quran says
Distribution of Wealth
And The God has preferred some of you over others in provision. Those who have been preferred will not relinquish their provision to those who are still dependant, so they may become equal in it. Are they denying the favour of The God? (1671)
Who distributes?
Take from their money a charity to purify them and develop them with it, and connect to them. Your reaching out is a tranquility for them; and The God is Hearer, Knowledgeable. (9103)
To be distributed to who?
283, 2177, 2215, etc.
How much is to be individually given for distribution?
They ask you about intoxicants and gambling. Say ?In them is great harm, and a benefit for mankind; but their harm is greater than their benefit.? And they ask you how much are they to give, Say ?The excess.? It is thus that The God clarifies for you the signs that you may think. (2219)
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salaam Idris
Capitalism is more than just legitimate trade, I might add that unrestriction on the size and vastness pf businesses leads to monopolies which have bad results for domestic business as well as many other problems, also it may lead to predator multinationals destroying the economies of other nations by the domestic economies being unable to compete, even many capitalist countries have restrictions on the size and vastness of businesses
If you look at your own quote you have actually answered your own objection.
I am not aware Quran restricting any business to any size. You might not like big sized business but that does not make it ant-Quranic.I think you have not really understood capitalism properly It is not there to make every rule for any given society and if a society does not like any particular effect of any business it can legislate against it-as you have pointed out in your quote.
also it may lead to predator multinationals destroying the economies of other nations by the domestic economies being unable to compete
Why should the domestic economies not be able to compete?
I am not sure what you mean by this. Are you against competition.
How do you think many big businesses originally started?
I dont know. was Bill Gates always a billionare?Capitalism is the privitization of the means of production into the hands of a few, those who own and trade in means of production as capital assets, and who hire workers to work for them, using those means of production
Why it does it have to be in the hands of few. Capitalism does not restrict any one from being involved in production.
Are you seriously suggesting hiring workers is anti-Quranic otherwise I dont really understnad your point.Therefore, the capitalists obtain a surplus value from the work of his employees which as I have shown constitutes exploitation
I am afraid you have shown no such thing. You have just written a slogan.
Say for instance that a worker assembles simple toys in a capitalist's factory for $5 per hour. Let us imagine the worker combines 2 plastic pieces, which cost the capitalist $1 each, to create the toys. The worker creates ten new toys per hour, so the capitalist has put forward $25 to create ten new toys. Now the capitalist makes the toys available for sale for $3 each, so that he receives $30 for the 10 toys. From this we see that the materials to create ten toys cost the capitalist $20, and the labor-power of the worker cost the capitalist $5, so he received a profit of $5.*
Where does this profit come from? It comes from the exploitation of the worker! If the twenty plastic pieces alone were only worth $20, how then could the completed toys be sold for $30? What increased the value of these plastic pieces? It was the labor-power of the worker, which turned the raw materials into a new commodity. From this we see that the labor-power of the worker added a value of $10, but the worker was only played $5 for her hour of labor-power. Her labor-power was sold as a commodity to the capitalist, in hour increments, just as the plastic is sold to the capitalist in pieces.
Are you suggesting it is wrong to make a profit?
If a shopkeeper buys an onion for 1 rupee and sells it for 2 is he wrong. Acoording to your logic, he is, otherwise how is that onion now worth the extra 1 rupee.Where does this profit come from? It comes from the exploitation of the worker
Working for someone is not exploitation. I work for a very large instituion (yes I think I should be paid more-most people do even the self employed) but I dont consider my self exploited.
I think you have to be clear what you mean by exploitation.
I understand the person to whom the Quran was revealed did work for a businesswoman. Was he being exploited?in God's system God owns the means of production,
Would be good if God took over the means of production.
So let me see in Gods system according to you
There would be no big business. You now just need to define what you mean by big.
No one will be allowed to employ anyone-as that consitutes exploitation.
No one be able to make any profit.
No one is allowed to have any excess-we now need a define what excess is.Quote
558 So that you, too, never violate balance in your lives.
559 Therefore, establish Balance in the society in absolute justice. And never belittle the Scale of Justice in the community and in all your transactions with your own ?Self? and with others.
5510 And (know that) the earth He has spread out for all His creatures. ('Anam' = All living beings).4110 And He it is Who placed therein firm mountains towering above it, and bestowed enduring Bliss upon it. And He measured therein its sustenance in Four Seasons, alike for all who (invariably) need it. (3967, 5663-73).
5663 Have you thought of the crops that you cultivate?
5664 Is it you who grow it or are We the Grower?
5665 If We willed, We surely could turn it into chaff, then you would be left to exclaim,
5666 ?Behold, we are now under debt.
5667 Nay, but we are deprived!?
5668 Have you thought of the water you drink?
5669 Do you bring it down from the rain-cloud or do We?
5670 If We willed, We surely could make it salty. Why, then, do you not show gratitude? (By devising an equitable system of provision for all).
5671 Did you consider the fire you strike out?
5672 Is it you who grow the tree as its fuel, or do We grow it? (4110).
5673 We, yes, We have made this (fire) a reminder, and a gift for all of you who surely need it. (The use of fire is one of the Divine gifts that distinguishes mankind from the Animal Kingdom).773 The people of Thamud were successors to Aad. To them We sent their brother, Saleh. He said, ?O My people! Serve Allah. You have no other god but He. The Clear Truth has come to you from your Lord. This is the she-camel of Allah, a token for your obedience. So let her feed in Allah?s earth and do not harm her lest painful torment seize you.? (Their feudal lords controlled land, crop, oases and water resources, and the weak were suffering. Saleh assigned a she-camel as a symbol of their reformation).
774 Saleh said, ?Remember how He made you inherit the land after Aad and established you therein. You build castles in the valleys and carve out homes in the mountains. So, remember Allah?s bounties and do not spread corruption in the land.?
775 Their leaders said to the believers, "How do you know that Saleh is sent from his Lord?" They responded, "We believe in the Message he has brought.? (The bringer of such Sublime Message cannot be a liar).
776 (The arrogant leaders and the feudal lords could see their vested interests getting hit, so they decided to reject the Divine Message.) The arrogant ones said to the believers, ?We reject what you believe in.?
777 They killed the she-camel, rebelled against their Lord?s Command and challenged, ?O? Saleh! Bring the doom you threaten us with, if you are really a Messenger.?1164 (The feudal lords had been depriving the poor of using the land and its natural resources of water and vegetation.) Saleh said, ?O My people! This she-camel belonging to Allah shall be a token for you. So leave her alone to graze in the land belonging to Allah. Do her no harm, lest speedy punishment befall you (9113).? (This verse along with 5510 pronounces one of the most revolutionary concepts of the Qur?an. The land, the earth is owned by none but Allah and must be open for all His creation as a means of sustenance. Hence, all landlord-ship is contrary to the Divine Ordinance. In the Divine System, the Central Authority will see to it that any piece of land will be for those who toil in it and give Allah His Right, the poor-due 6141).
? The earth and all its resources belong to Allah. It is such an obvious fact that no one can deny it (612, 1031, 2961 &63, 3125, 3424, 3910 &38, 439).
? Allah is the inheritor of the earth (1940).
? The earth has been created for the benefit of all (5510).
? It has been created to provide nourishment for all (5673).
? To Him belongs all that is in heavens and the earth, ?La hu ma fissamawati fil ardh? (2116, 2255, 4171, 540, 142, 1652, 206, 2264).
? ?Lillahi ma fissamawati fil ardh? (2284, 3109, 3129, 4131,132, 540, 1055, 1067, 142, 1652, 206, 2119, 341, 424, 4253, 5321).
? ?Lillahi miraathus samaawaatti wal ardh? (3180).
I cannot see anything in the above verses that restricts business size, is against profit, against employing anyone.
There is nothing in the above verses which is against capitalism.
regards -
In capitalism, initial distribution of wealth is determined by the free-market and competition which is based on an uneven level in the first place (inequality in ability, intelligence, opportunity, inheritance, etc.), its a sort of casino actually
Is the capitalist, whoeverhe/she may be, rsponsible for. inequality in ability or intelligence. I know capitalism is blamed for many things but this is a new one to me.
the capitalists will never give up their personal wealth for the good of humanity/the community
As opposed to those who will give up their personal wealth such as..............?
Distribution of Wealth
And The God has preferred some of you over others in provision. Those who have been preferred will not relinquish their provision to those who are still dependant, so they may become equal in it. Are they denying the favour of The God? (1671)
Who distributes?
Take from their money a charity to purify them and develop them with it, and connect to them. Your reaching out is a tranquility for them; and The God is Hearer, Knowledgeable. (9103)
To be distributed to who?
283, 2177, 2215, etc.
How much is to be individually given for distribution?
They ask you about intoxicants and gambling. Say ?In them is great harm, and a benefit for mankind; but their harm is greater than their benefit.? And they ask you how much are they to give, Say ?The excess.? It is thus that The God clarifies for you the signs that you may think. (2219)
Great! All we need to do now is to define
Equality
Excessregards
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salaam mq
By first asking 'what is economics'.
You tell me. You are discussing this issue. No point in discussing something if you do not know what it is.
regards -
salaam mq
Initial definition which initated this debate
ECONOMICS is a science concerned with production, distribution and consumption of goods, services, wealth and resources.
Seems fairly reasonable to me.
mqurans definition
Economics for me is 'the study of activities leading to the material rewards used to fulfil needs and wants'
seems ok as well. As long as it does not start heading towards some spiritual direction-that I dont think was the spirit of the original comment.
regards