“AND EAT AND DRINK BUT BE NOT
PRODIGAL. LO!
ALLAH LOVETH NOT THE PRODIGAL.”
1. Introduction:
Thesis Statement: Engaging in moderate spending is
beneficial both individually and nationally. Conversely, overspending leads to
various negative consequences.
2. Acceptable
Modes of Spending:
I.
Moderate spending
II.
Rational spending
Encouraging inclusive and sustainable
spending practices
3. Understanding
the Vices of Overspending:
I.
Religious Prohibitions on Extravagance:
-
Insights from the Holy Quran and the Bible, including
the parable of "The Prodigal Son"
II.
Philosophical Critiques:
-
Shah Waliullah's disapproval in Irtifaqat and John
Maynard Keynes' rejection of prodigality at a national level
III.
Comparative Analysis:
-
Historical examination of spendthrift regimes like the
Mughal Empire contrasted with prudent ones like the British Empire
-
Contemporary comparison between consumption-focused
nations like Pakistan and more frugal ones like China
4. Detrimental
Effects of Overspending:
I.
Individual Consequences:
-
Fueling a culture of avarice and greed
-
Erosion of moral values
-
Fostered apathy and ostentatious displays
II.
National Ramifications:
-
Escalating budget deficits
-
Increasing debt burdens
-
Hindered or negative economic growth leading to
financial crises
5. Recommendations:
-
Advocating for mindful and measured spending practices
6. Conclusion:
-
Restate the importance of moderate spending,
underscoring its benefits for individuals and nations and emphasizing the
imperative to curb overspending for a healthier societal and economic
landscape.
Islam is not just a conventional
religious doctrine but a complete code of life. Islam not only teaches moral
values and religious practices but also provides apt guidance for every sphere
of life. Islamic economic system is quite different from both communism and
capitalism. Unlike communism, Islam permits a free-market economy and free flow
of cash. But Islam puts a limit on this permission. Capitalism is inherently an
unregulated form of economy in which everyone can spend according to his whims and
wishes. Islam opposes this very foundation of capitalism and advises putting in
place certain checks on modes of spending. Islam places such checks because
money is not considered as a property of human beings but as a trust of God. Man
cannot violate this trust in God according to his desires. Therefore, man has to
spend moderately and rationally. Islam allows man to spend money to fulfill his
basic needs in life. This spending should not cross certain limits. If the amount
of spending exceeds those limits, it will be called overspending. Islam
considers moderate spending to be a constructive deed both on individual and
national levels. But Islam rejects overspending because a multitude of adverse
effects and devilish deeds follow it.
Both Islamic and modern teachings consider
certain modes of spending as permissible. Overspending and underspending both
are disadvantageous. Overspending causes greed while underspending breeds misery.
Therefore, the permissible mode is a moderate way of spending. Islam has explicitly
supported the moderate way. “The best way is the moderate way" is part of the
common conscience of mankind but when this conscience falters, man deviates from
the middle way. Moderate spending for recreational purposes is not prohibited
by Islam as Islam has no compulsions and “Allah likes easy path for you and
dislikes harshness and hardships for you."
Rational way of spending is not only permitted
but even encouraged by Islam Islam vehemently rejects the hoarding of wealth
which is. implicit direction to spend the wealth rightfully, the Modern welfare
model and Islam share many features among which rational spending can be drawn
from the following verse
“Good deed is like such a tree that
has well-spread branches and deep roots down the earth."
Spread branches signify such a form
of spending that caters to all echelons of society without any prejudice and is
inclusive in nature. Deep roots imply that money should be spent in such a way
that it creates a sustainable mode of earning.
This sustainable earning feeds further rational spending as roots feed well-spread
branches of a tree.
Divine commands have not only condemned
extravagance but have outright rejected it. The Holy Quran has vehemently rejected
‘Israf or what is called extravagance. Quran says “Certainly squanderers are
the disciples of Satan." The comparison of prodigals with the devil is
a strong statement that exhibits how much Islam loathes extravagance. The Quran
in many places describes the pitfalls of extravagance. Those pitfalls include overindulgence
in worldly life and aptly towards others' feelings.
“The Prodigal Son” is a parable in
the Holy Bible describing a tale of an old father and his prodigal son. The old
father had two sons. The younger of them demanded his share of the inheritance
from his father. When he was given his share, despite spending it in some
fruitful manner, he wasted and spoiled it in profane activities. Soon he was left
penniless, only then, did he realize the importance of wise spending. The
Bible, through this tale, exhibited the significance of wise spending and
savings for worse times.
Various rational thinkers also
criticized prodigality in their works. Shah Waliullah's Irtafaqat is one such
work. Shah Wali in his book has expounded on the socioeconomic system of Islam.
He exhorted to explain the causes of the downfall of the Mughal dynasty.
According to him, when states do not rationally spend their revenues and
earnings, they are bound to suffer. The Mughal Empire epitomized this practice
by frivolous spending on poets, singers, and dancers. Rather, they should have
spent both their energies and earnings on the welfare of the populace and the defense
of the Empire. According to Shah Wali, this irrational spending discouraged
farmers, and soldiers of the Mughal Empire got rusted. In essence, Shah
Waliullah proposed spending on important sections of society that constitute the
foundations of any state.
After the great depression, British
economist John Maynard Keynes criticized the very foundations of capitalism of
those days. Capitalism of the pre-WWII era was based on principles set by Adam
Smith. Adam Smith propounded an unregulated system of economics, where there
were no checks on earning and spending patterns. Keynes held the view that the financial
crisis of the 1930s was a result of unregulated patterns of earning and
spending. Keynes proposed austerity patterns for the recovery of the economy and
called for the government to put in place some checks on public patterns of
spending. Keynes strongly believed that overspending by individuals or states
is counter-productive and has to be curbed. However, Keynes advocated heavy spending
to stimulate consumption, which was due to the lack of effective demand.
Historically those states that saved
or invested their revenues Efficiently progressed on all levels. The British
Empire was busy with frivolous activities. Emperors spent heavily on the
palaces and mausoleums of their elders but completely overlooked the welfare of
their subjects. Sycophants, submissive courtiers, voluptuous dancers, and
melodious singers were fed on state coffers. With time, the Mughal Empire fell
prey to the British Empire which invested in education, health, and defense
rather than wasting its revenues on frivolities.
Today Pakistan exhibits a sad story of
wasteful expenditure by the state. Money from the state's coffers is used
either for the pompous and lavish lifestyles of rulers or on hollow showpieces of
public works. Pakistan is inherently a resource-rich country but the careless attitude
of government and public has kept Pakistan’s economy in a state of doldrums. Overuse
of Sui gas is a pertinent example. Pakistan once was the second largest country
concerning natural gas resources but the wasteful and careless use of natural
gas has made Pakistan short of its gas needs. Electric power and water are also
being wastefully used by Pakistani people. Pakistan has expanded its consumption
and Pakistan has to get loans to pay for Its expenditures. In contrast to
Pakistan, China in the course of the last sixty years has oriented itself toward
saving habits. China's saving pattern is so successful that it has become the largest
overseas investor in the world. The basic difference in spending habits of
Pakistan and China exhibits itself in the progress levels of both states.
Overspending adversely affects individuals.
For spending, money is required and for overspending much more money is required.
This, in turn, fuels greed and avarice among those individuals who overspend.
Greed causes corruption of both mental and moral aspects of human beings. To
fulfill their gluttonous desires, they employ corrupt means which deteriorate
their moral standing as a whole. This condition further aggravates selfishness and
feelings of apathy towards neglected sectors of society. Such individuals just
strive for themselves and ignore the plight of others. This attitude kindles destructive
competition among individuals who desire to excel others by showing off their
wealth. Ostentatiousness makes its way into society as a whole and the very fabric
of society starts to decompose.
Overspending at the state level is dangerous
on many fronts. States that overspend often
face an imbalance in their earnings and expenditures. To meet their budget
deficit, they take loans from domestic and foreign lenders. They continue to
overspend and hence budget deficit continues to increase which in turn leads to
a heavy accumulation of debts. When the state does not alter its spending
pattern, it finally gets entangled in the quagmire of the debt trap. When they cannot
return their debts, they plunge into a deep financial crisis. Greece and Spain
are perfect examples of these practices. Now, to overcome the financial
meltdown, they have instructed a plethora of spending acts and austerity measures,
NATO should be penny-wise and pound-foolish.
To avoid moral turpitude on an individual
level and financial crisis at the national level, moderate and wise spending is
the only cautionary measure. Spending, if done wisely can herald prosperity for
nations and fiscal satisfaction for individuals.
In brief, spending is not a devilish
deed but overspending is. Islam has prescribed defined limits for spending.
Islam has also encouraged spending on the welfare of the poor. If someone
despite clear and vivid injunctions of Islam, indulges in extravagance and
prodigality, he is bound to suffer in the long run. It is a proven fact
according to findings of modern economists too. Therefore, to live a peaceful
and prosperous life, one has to spend moderately and wisely. States like Pakistan
too have to shun their prodigal expenditures and promote the habit of saving
among the populace. Only then they can hope for sustainable economic
development in the country.
