Economics and a modern economic concept

 Economics and a modern economic concept

Allama Muhammad Iqbal

Dr. Allama Muhammad Iqbal (1938 - 1877) was a great poet of literature, eloquence, eloquence, reflection, and art of Islamic sentiments. He carefully examined the backwardness of Muslims while observing the circulation of the Indian sub-continent. He found a solution to the problems of Muslims on the basis of wisdom. In front of the eloquence of eloquence, he proved to be a person of knowledge and wisdom. The galaxy of words was illuminated by the tip of his pen. From 1893, Iqbal, rich in the beauty of language and literature, gave the color of objectivity to literature. The grave problems of the Muslims began to revolve in his conscience. Where he performed the duty of infusing life into the dead veins of Muslims, he formulated some suggestions to improve the economic condition of Muslims by resorting to creating beauty. Apart from the internal world, he also tried to improve the external world. Like water gambling, he embellished his economic ideas in his book ``Ilm Al-Ektidis''. Dr. Allama Muhammad Iqbal had an integrated economic system in front of him. "Economics" proved to be a mirror of its era in which the outline of the economic rise of Muslims began to be seen. "Economics" was completed in 1903. Rakim al-Haruf (Harun al-Rashid Tabasim) also wrote a commentary on the 1991 publication of Aina Adab Lahore. The price of this book at that time was only 90 rupees, containing 272 pages. Various institutions organized to convey the economic thoughts of Allama Iqbal to the public by publishing "Economics". The foreword of this book was written by Iqbal scholar Mumtaz Hussain, while the case is the result of Dr. Anwar Iqbal Qureshi's essays. The preface of the book was written by Dr. Allama Iqbal, the poet of the East, the thinker of Pakistan. The division of its chapters is as follows: 

Part I: Economics (the nature of economics and its method of research), Part II: Birth of wealth (land, labor, capital, ability of a nation in terms of birth wealth), Part III: Exchange of wealth (Problem of value, trade International. The nature of cash and its value. Right-of-Zarb. Paper currency. Credit and its nature), Part IV: Production. Shares in wealth (Rent. Interest. Profits. Wages. Effect of imperfect competition on the condition of artisans.) Wealth, Part V: Population and Economy (Emergence of Modern Needs, Wealth Only), Appendix. Terminology Economic prosperity is a sign of a happy life. Society becomes active and stable only with economic development. Dr. Allama Muhammad Iqbal was a thinker. Rich in poetry and speech, Iqbal wanted to see the world around him prosperous and active. From economics, we can estimate the graph of economic development. Apart from poetry and speech, Allama Muhammad Iqbal was also deeply interested in economics. He was appointed MacLeod Arabic Reader at Ikhu Oriental College, Lahore on 13 May 1899. Apart from these duties, he also translated many books into Urdu, besides teaching history and political economy. Surprisingly, in the performance of these duties, Allama Muhammad Iqbal also translated Fawcett's Political Economy and Walker's Political Economy into Urdu along with teaching. "Economics" is a unique work of his. This book reveals his extensive studies. This book came out on the initiative of Professor Arnold. Iqbal experts say that "Economics" came to the fore in 1904. A chapter of this book was also published in "Makhzn". Iqbal Dr. Ghulam Hussain Zulfikar wrote the book. "This book was completed in 1903 and at that time Iqbal was in Government College. It may have been written in 1903. This news was published in December 1940 magazine. We are happy to inform the audience. This valuable book, a chapter of which has been published in "Makhzn", has been prepared in secret. Dr. Allama Iqbal writes in the preface of the book. "Shibli Naumani Madzala deserves my thanks for giving valuable language corrections in some parts of this book". Is: “Iqbal has described national education as an essential means of economic development and increase in national production and this is a point that is often overlooked. which is often overlooked by economists. personal, therefore, I have no doubt that education and economic development are inseparable and unless a country has universal education, it cannot achieve economic development. "

Allama Muhammad Iqbal

Genius Dr. Allama Muhammad Iqbal has presented a thought-provoking point in the preface of Ilma-il-Economics. Its purpose is to investigate how people earn and use their income. So, from one point of view, its subject is wealth, and from another point of view, it is a branch of vast knowledge, the subject of which is man himself. It is a matter of course that a person's minor work has a great influence on his circumstances and his lifestyle, but his mental faculties cannot be completely protected from this influence. There is no doubt that even the cells of human history cannot be completely protected from this influence. There is no doubt that the principles of religion have been extremely effective in the course of human history, but this is also proven by daily experience and observation that the business of earning a living is always with man and secretly. "Danay Raz Iqbal transferred the important aspect of the concept of life to our minds that the creator of the universe is the owner of all the treasures. Not a single leaf can move without his command and the most important thing is that man is also the trustee of all treasures because he is the vicegerent and caliph of Allah. According to Iqbal, this is the basic point from which the grand construction of the economic system was built. Guided initiatives to alleviate poverty and backwardness. Advised to resettle idle parts on vast tracts of land. In addition to the labor bill, he was also instructed to specify the share of those who grow fruits. According to Iqbal, because of the better system of tithe and zakat, has also indicated to encourage the poor and undermined the rich. Similarly, by following the law of inheritance, many relatives can be activated in the same context of wealth circulation. According to Iqbal, the duty of a true Islamic state is to provide peace and order, bread, cloth, housing, education, and health. Unemployment is a killer poison for any society, so the government should focus on such initiatives to provide employment to the talented youth in one way or another to eradicate poverty. Dr. Allama Muhammad Iqbal has further written in the same preface: "So if the people of India want to establish their name in the office of nations, it is necessary for them to know the principles of this important knowledge and find out which ones they should There are reasons that are preventing the rise of the country. My purpose in writing these papers is to clarify the most essential principles of this knowledge in a general sense and also to discuss in some places how far these general principles apply to the present condition of India. If these lines inspire even a single person to think about these matters, then I will understand that my mind has not gone astray.

Dr. Allama Iqbal gave these ideas to us before 1903. Today, the balance of income and expenditure in the economy, civilization, and other sectors of society is not maintained. By studying this book, an integrated economic system can be established even in modern times. The supporters of socialism and communism are also recognizing the economic system of Islam today. Land, labor, and capital are a triangle that can increase productivity. We can increase the national capital by making idle lands suitable for cultivation. The happiness of the farmer is related to the development of the country. The tension between the government and the farmers continues day by day, bringing it into balance is the main need of the day. Holding capitalists who do not pay workers' wages to account is essential to the success of the economic system. What has been lacking in our economic system for a long time is laxity in the payment of duties. The process of inquiry from House to House should be expedited. Those departments which are in constant deficit can be merged with other departments to lighten the salary burden. The promotion of international trade is very important for increasing revenue. Accountability for tax collection and discrimination should be strictly enforced. Rent, interest, profit, wages, and capital expenditure are all part of wealth creation. If usury is to be abolished according to the Islamic point of view, the partnership should be promoted. Apart from usury, the lottery system, prize bonds, profit certificates, gambling, Sita, stock exchange, and discounted tokens are making the rich richer. This is the reason why the economy of Pakistan is divided into three parts. Capitalist class, white-collar and poor people. The capitalist earns profit from the labor of the farmer. Businessmen are becoming millionaires from the laborers' blood and sweat earnings. According to Iqbal, prosperity lies in the sincerity, honesty, hard work, and equality.

Allama Iqbal Shrine

With the economic system of Islam, we don't need any other system, but who will do strict accountability to manage all this. Hoarders and profit-seeking manufacturers are rampant. A glimpse of the Madinah state can be felt in Pakistan only when justice and equality are promoted. Iqbal also felt the need for a mutual exchange of goods. A certain fixed amount can be obtained for a certain fixed amount of another good. Dr. Allama Muhammad Iqbal writes in this regard: "Exchange is created by hard work." If each person was engaged in producing things for his own needs, there would never be a need for exchange, but when there is a difference in their interests, or in other words, different people or nations are engaged in producing different forms of wealth. , then the order of exchange is created automatically. In short, an exchange is a form of union that arises out of differences of interest. When one person produces grain, another corn or potatoes, and a third cloth, necessity will obviously compel them all to exchange. “Quantity is determined keeping in mind the importance of the items. Quantities may be increased or decreased due to inflation. Production is central to an integrated system economy. Petroleum, oil, gas, coal, commodities, fruits, vegetables, iron, gold, lime, and other minerals should be explored as a movement. Allah Almighty has blessed Pakistan with innumerable blessings. Allama Iqbal has emphasized the need to focus on all productive activities. A proper population balance is essential for a prosperous society. Despite all the efforts of the Department of Population Welfare, the population ratio in Pakistan is increasing. About four million children are born every year. Due to the unaccompanied birth of children, it is not possible to take proper care of them. Therefore, it is important to make the uneducated class aware of this danger. Allama Iqbal writes in Ilm al-Etiqasid: "The population going beyond the appropriate limits is the source of poverty and other bad results, but to reach practical results, it is known." It is important to know what is the correct ratio between human birth and death. It is an obvious phenomenon that some are born and some die, but with the help of observation and experience, it is important to see what is the birth rate per woman and man after removing minor deaths, etc. Hakim Malthus discovers this principle in his article called "Population" that despite the abstraction and the visible population that occurs in some cases, the human birth rate is generally four children per woman and man. "

Iqbal has made a special mention of modern needs. We have to take care of our growing needs. The price of food items is rising like a storm. Extravagant spending on fashion, beautification, exhibitions, and events has pushed the poor into a blind well. The first-class section of the society spends crores of rupees on child marriages with no one to ask. Even oil for the lamp is not available in the hut of the poor. Import and export not only strengthen the country's economy but also strengthens diplomatic relations. The needs of national defense are met only with the stability of the economy. External loans are required only when the internal economic system of the country suffers from imbalance. To cope with these dire situations, we must be self-reliant and act on our own principles.

 The central economic powerhouse of Pakistan should be aware of the life of the common man because what can those who sit in air conditioners feel about those who work in the hot sun? Many highlights of Iqbal's theory of a stable economy are also present in his speech. His speech revolves around objectivity. The mentioned book "Economics" is the chapter on the importance of economics. Iqbal's modern economic concept is still a guide for us today. It is very easy to formulate ideas, charters, or laws but very difficult to implement and enforce them. With the abundance of electricity, petroleum products, minerals, and gas, all sectors of Pakistan can be made stable. We keep examples of developed countries in front of us but do not work hard like them. Pakistan's economic system can improve only when every individual obeys the law. Consider Pakistan as your home and take care of it. Pay your dues on time. We ask for the right and do not pay the duty. We should follow the strategy of living and let live.

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