THEORY OF SURPLUS VALUE IN ISLAM Karl Marx himself considered his theory of surplus-value his most important contribution to the progress of economic analysis. The difference between the value of the product produced by labor and the actual price of labor as paid out in wages in Marxian analysis of capitalism. Karl Marxs theory was misconceived theory and highly controversial. The theory of Surplus Value/Labor is based upon the assumption that the cost of a product is determined by how much labor was required to produce it. But, labor cannot produce anything on vacuum. The theory of Surplus Value is quranic (2:219, 7:199) and it was enunciated fourteen hundred years before Karl Marx. As a factor of production Nature, including land, is a free gift of God to man to aid him and co-operate with him in the production of wealth for welfare of entire human race. Since production is joint venture of man and Nature, the produce/wealth is to be shared between them. Natures share is left after due payment to man for his industry and co-operation of wealth: Pay His (Allahs) due on the day of harvesting. - Quran 6:141 They ask you as to how much they should spend. Say: The Surplus (Quran, 2:219). Take the Surplus... (Quran 7:199) This surplus is collected by the Caliph in the state treasury to enable him to discharge of his duty to regulate the needs of society, means of livelihood, and ways of earning and spending, in its own way: We indeed established you in the earth and provided for you therein the means of subsistence - Quran 7:10 Wealth is to serve useful purposes and not to be accumulated in a few hands that it may not concentrate and circulate only among those of you who are rich - Quran 59:7 In their wealth there is due share acknowledged by them for such as who ask (for help) and such as are deprived (of what is good in the life). - Quran 70:24 From each according to his ability, to each according to his need : No person shall be burdened beyond his capacities. - Quran 7:42, 2:234 Muslims are called “people of the middle path” (Quran 2:143). They should take care to maintain balance (Quran 55:8), which Allah has set in human nature. There is no prohibition on making wealth through righteous way. But, Muslims are advised to give away to the needy out of “surplus” and thus hold onto “balanced” and “median level”. Once legitimate needs have been filled at a modest scale - no extravagance is permitted - the rest is surplus. One should not suffer from poverty, nor indulge in luxury. Equal and equitable distribution : On some of you Allah has bestowed more worldly provision than others; and yet they who are more abundantly favored does not restore a portion of their worldly provision to those who are under their control, so that they might be EQUAL SHARERS in this respect. Will they then the blessings of Allah thus deny? - Quran 16:71 Justice and beneficence : Surely Allah enjoins JUSTICE and DOING OF GOOD and giving to the fellow-men. And He forbids all that is shameful, ill-behaviors and transgression. He exhorts you so that you may take heed- - Quran 16:90 Note : Another important point to be observed is that Karl Marx recognized Land, Labour, Capital and Organization as Factors of Production. But, according to Quranic view production is the fruits of interaction between Man and Nature: This is not in mans power to grow trees and crops unless Nature co-operates by the command of Allah Nay - who is it that has created the heavens and the earth, and sends down for you water from the skies? Then with it We cause to grow beautiful gardens - IT IS NOT IN YOUR POWER TO CAUSE [EVEN A SINGLE OF] ITS TREES TO GROW! - Quran 27:60 Do they not see that We drive the rain to the dry land devoid of crops and produce thereby crops of which their cattle and they themselves eat? Can they not then see (the sign of Allahs creative power)? - Quran 32:27 Surplus means excess wealth and profit which may come from production of wealth as share of nature, and business as excess profit etc and by living in moderation on median level (2:143). Labour cannot produce anything in the void. In production two factors take part - man and nature. Surplus is natures share. Pay His (Allahs) due on the day of harvesting (Quran 6:141). en.wikipedia.org/wiki/Theories_of_Surplus_Value = copy and share =
Posted on: Wed, 09 Apr 2014 18:19:09 +0000
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