Islamic Economics: A Short History

(Elliott) #1

46 chapter two


Natural resources
As a factor of production, natural resources embrace more than land,
the classical economic factor; they incorporate land, animals, min-
erals and the like, wind, water, and sea and river products. In the
Qur"àn, reference has been made to these resources on several occa-
sions in such a way as to: (a) cite to people the bounties of God so
that they may be thankful to Him, and (2) encourage them to utilise
these resources for the benefit of “self ” and community. For exam-
ple, the Qur"àn states, “He sends down water from the sky, and
with it brings forth the buds of every plant. From these We bring
forth green foliage and close-growing grain, palm-trees laden with
clusters of dates, vineyards and olive groves and all manner of pome-
granates”, (Qur"àn 6:99).
With labour, or man, natural resources, which are provided by
God, are the prerequisite for production. However, this is a general
equilibrium perspective, looking at the economy as an integrated sys-
tem. The process of production in such a system is achieved through
the interaction between man and nature. However the time dimen-
sion should also be considered. Over time production requires the
interaction of three main elements: natural resources, labour and
capital. There is no inconsistency here if capital is regarded as stored
labour, it is a product of the collaboration between labour and nat-
ural resources in the long run.


Labour
Labour has been emphasized in the Qur"àn and the Sunnah. The
Qur"àn emphasises the importance of work, and the necessity for
it, many times. In the Sunnah, work is so highly regarded that the
Prophet is reported to have said that of the sins there are some
that cannot be removed (forgiven) except by working to earn a liv-
ing (flaœìœal-Bukhari). All types of legitimate work is encouraged,
even that which may benefit birds and animals, “No Muslim has
planted a plant or cultivated a branch, and a bird or an animal
eats from it but has been given a divine reward for it” (flaœìœal-
Bukhari). The examples of the Prophet and his companions making
their living in the market and providing for their own needs are
abundant.
Furthermore, the following points could be noted about the con-
cept of labour in the Qur"àn and the Sunnah:

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