Al-Iji’s economic views (d. 756 AH) as set out in his book (Risālat al-Akhlaq)

Abstract

Abstract

The works of Muslim scholars address many economic and financial issues, and they were the first to clarify these issues and propose solutions to the problems they present.

Among these scholars is ‘Izz al-Din al-Iji, who linked the science of ethics to the science of economics; in his book (Risālat al-Akhlaq) (Treatise on Ethics), he discussed a number of economic and financial issues, including:

1. An explanation of moral virtues and vices.

2. A discussion of wealth from three perspectives:

a. Income and lawful methods of acquiring wealth.

b. Preservation through reducing expenditure, investing, and allocating funds among cash, real estate, and personal property.

c. Expenditure and its four categories: in the cause of Allah the Exalted, chivalry, necessity, and need.

3. An examination of the problem of unemployment, its harms, and its remedies.

The study then concludes with a set of findings, including: the strong connection between ethics and economics, because no economy can provide a good life, happiness, and prosperity without ethics.

The study employs an inductive-analytical approach, whereby the researcher traces, compiles, analyzes, and explains Al-Eiji’s economic views.

Al-Iji established three ways to maintain income and revenue: output is less than income without frugality, and investing in money. The financier divides his money between cash, belongings, and real estate as a reserve. There are four types of expenditures for income according to Al-Iji: income for the sake of God Almighty, income for chivalry, income for necessity, and income for need. Al-Iji considered unemployment to be one of the moral vices, and explained its harms and ways to treat it. Among the most important harms of unemployment is the destruction of the soul and body, and the invalidation of wisdom. In human creation and preoccupation with what does not benefit from it, and the most important way to deal with it is to be in harmony with the masters of the grandfather by contemplating their effects, hearing their stories, and censuring the lazy people and their bad consequences.