JESUS, THE ECONOMIC CRISIS AND THE KORAN
NEW AND VIEWS:
VIEWS: JESUS, THE ECONOMIC CRISIS AND THE KORAN
Michael Gerson, former faith advisor to former President George W. Bush, and now a columnist with “The Washington Post,” wrote about “What Would Jesus Do?” to solve the current economic crisis.
(Read below).
But, he and the Christian groups he quoted failed to mention Jesus famous encounter with the money merchants in the temple.
The Koran mentions that and builds its economic guides on suspicion, if not condemnation, of money merchants.
Here is what Wikipedia said about the Koran and economics:
“Islam accepts markets as the basic co-coordinating mechanism of the economic system. Islamic teaching holds that the market, through perfect competition, allows consumers to obtain desired goods, producers to sell their goods, at a mutually acceptable price….
The Quran (3: 130) clearly condemns what it calls by the Arabic term “riba,” usually translated “interest”: “O, you who believe! Devour not riba, doubled and redoubled, and be careful of Allah; haply so you will prosper…
Most Islamic economic institutions advise participatory arrangements between capital and labor. The latter rule reflects the Islamic norm that the borrower must not bear all the cost of a failure…
Conventional debt arrangements are thus usually unacceptable – but conventional venture investment structures are applied even on very small scales. However, not every debt arrangement can be seen in terms of venture investment structures. For example, when a family buys a home it is not investing in a business venture… (More study in needed)”…
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NEWS: WHAT WOULD JEUSUS DO? MICHAEL GERSON, COLUMNIST, “THE WASHINGTON POST” (Excerpts):
With varied motivations, human beings tend to invoke the name of God in foxholes, in the throes of passion and in budget debates.
During the recent debt-limit showdown, Rep. Tim Scott (R-S.C.) credited “divine inspiration” for his opposition to House Speaker John Boehner’s initial proposal. Democratic activist Donna Brazile tweeted, “Last time I checked, God is above this partisan stuff. But I believe (as a woman of faith) Jesus would be fair and support shared sacrifice”…
A group of Christian leaders called A Circle of Protection asserts, “The moral measure of the debate is how the most poor and vulnerable people fare.” “The Christian community,” its statement goes on, “has an obligation to help them be heard, to join with others to insist that programs that serve the most vulnerable in our nation and around the world are protected”…
Another group, Christians for a Sustainable Economy (CASE), offers a corrective, pointing out that the accumulation of debt and economic stagnation are also moral challenges, and noting that some well-intended social spending is ineffective. “We believe the poor of this generation and generations to come,” its statement reads, “are best served by policies that promote economic freedom and growth… Compassion is “best fulfilled through Christian charity and spiritual counseling, not government programs”…
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Social welfare, unemployment, public debt and globalization have been re-examined from the perspective of Islamic norms and values. Islamic banks have grown recently in the Muslim world but are a very small share of the global economy compared to the Western debt banking paradigm. It remains to be seen[vague] if they will find niches – although hybrid approaches, e.g. Grameen Bank which applies classical Islamic values but uses conventional lending practices, are much lauded by some proponents of modern human development theory.