In the moral responsibility, in the moral economy, we take responsibility for our economy. We’re not waiting for some government to take charge. Let me give you an example: People came to our Prophet (PBUH) at the time, and prices were rising in the market. Things were becoming more expensive than they used to be. They said, “O Messenger of Allah, the prices have gone up. Please fix the prices for us. Tell these sellers they can’t sell at these high prices. Make it easier for us.” The buyers, of course, were the ones saying this.

But Allah is the one who fixes the prices. He is the one who constricts, He is the one who expands, and He is the one who provides. This is the theology behind the moral economy. Allah is the price fixer; He is the one behind the economy. It’s important to realize the sanctity of our dealings.

To answer those who said, “Fix the prices,” the Prophet (PBUH) said, “I hope that I will meet Allah and that no one will have a claim of wrongdoing against me, neither in their blood nor in their wealth.” He, the Messenger of Allah, said, “Who am I to interfere in these markets?” This is part of understanding the sacred economy. It’s not for governments to control; they are only there to ensure fairness. We, the people, are the ones who inhabit and run this economy. We, the people, must take responsibility.

Now, there is debate about whether there are times when a price can be fixed, particularly regarding basic essentials and food. There are some rules about that. However, the central idea is that governments are not meant to directly control the economy of the people. It is the people’s economy, as it is simply a reflection of how we live together. That’s what trade is: how we exist together.

That’s why the sacred law places many restrictions on taxation rights and other matters. The point of the foundational principles is to give the government a framework so that humanity can flourish. It’s an important framework to maintain fairness, security, and other essentials. But ultimately, we, the people, must ensure that we flourish within the moral economy.

~ Shaykh Sohail Hanif