Islamic Thoughts

How God Controls Economy And Livelihood?

57 : HOW GOD CONTROLS ECONOMY AND LIVELIHOOD?

God, as the Protector of Life, provides sustenance to people in due measure. In doing so, He applies discretion to make some people rich and some poor as He tests the generosity of the former and the serviceability of the latter. Both the rich and poor work hard to maximize fortune but under regulatory system of God, their earnings differ. In order to make this happen, Omnipotent God influences the nation's macroeconomics system as He regulates the string of business cycle ranging from prosperity to recession/depression and vice versa. To combat such business cycle problems, by means of trial and error process economic theories evolve that cannot always have unmixed success.

America applied the best economic science of the time drawing advice from legendary economist Keynes to combat the Great Depression of 1929 but success to full recovery was long delayed until WWII (1939-45) that created numerous jobs in the military. Economists are still struggling to reach a consensus about what helps an economy best with employment. Demand side economists still think along Keynesian line by advising the government to boost consumers demand through enhanced spending program while supply side economists want to provide incentives to the suppliers or producers to produce more. Despite best human efforts through such competing economic theories to overhaul economy, God pulls the string from behind the scene by directing economy in His preferred direction, sometimes disabling brilliant prescriptions of smart economists. This is parallel to the example of advances of medical science that always lag behind Divine wisdom since at any point of time some diseases always remain unconquered with mysterious status.