Money supply can be increased out of thin air, but the non-renewable resources once exhausted cannot be brought back. Remarkably, the importance of ecology is not learnt even after repeated unsuccessful expeditions in space to search life supporting environment. An illuminating, enlightening and informative book cannot be valued just by measuring the cost of pages, printing and binding.
Mainstream economics treats altruism as ‘impure’. It looks at altruism in the paradigm of pursuing self-interest. Economists like Andreoni reason that altruism can be explained through the ‘warm glow’ effect. People feel good to help others as they gain personal and private comfort. They might be doing it because of social pressure, to gain fame, to improve social image, to exhibit status or to avoid the guilt of saying no to a cause in public. The paradigm of self-interest is neutral between a person’s decision to help others or to not help others.
In the Islamic framework, there is an emphasis on conservation, preservation and responsible use of resources. There is a discouragement for excessiveness, extravagance, lavishness and wastefulness in the use of resources. These norms are especially needed in the present times to foster a healthy, livable and sustainable ecosystem. In 2019 alone, humans have used up resources for the whole year within 7 months according to World Economic Forum.
Islamic Economics Project 