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Author Background
Ayatullah Muhammad Baqir al-Sadr (1935–1980) was a highly influential Shia scholar, jurist, philosopher, and thinker. His intellectual work covered not only economics but also politics, philosophy, theology, and logic.
- He was martyred by the Ba’ath regime in Iraq in 1980.
2. What Is Iqtisaduna / Islami Iqtasadiyat ka Jaiza?
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The original Arabic title is Iqtisaduna (اقتصادنا), which translates to Our Economy.
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It is considered his magnum opus in economics: a comprehensive analytic work from an Islamic perspective.
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The book was later translated into English.
3. Purpose and Significance
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Al-Sadr wrote this work to present a fully developed Islamic economic system, not just as a critique but as a positive alternative to the dominant economic ideologies of his time (capitalism and socialism/Marxism).
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He argues that Islam has its own economic philosophy and principles, which differ fundamentally from both capitalism and socialism.
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The book is structured to provide both the principles / methodology and practical economic issues like production, distribution, and justice.
4. Key Themes / Concepts
Some of the central economic ideas from al-Sadr in Iqtisaduna are:
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Double Ownership: Al-Sadr argues that while individuals may own property, ultimately, all ownership belongs to God, and humans are trustees / stewards.
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Freedom within Limits: He supports individual economic freedom, but within a framework constrained by moral and social justice norms derived from Islamic teachings.
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Social Justice: Distribution of wealth is very important in his system; economic justice is not only about efficiency but also ensuring fairness and caring for the less privileged.
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Critique of Capitalism and Socialism: He provides a critical analysis of both systems. For capitalism, he points to materialism and social inequality, and for socialism / Marxism, he argues that it denies certain individual rights and doesn’t align with Islamic values.
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Role of the State: According to al-Sadr, the state has a responsibility in guaranteeing justice, regulating economic activity, and ensuring the welfare of society.
5. Methodology
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Al-Sadr doesn’t rely purely on classical juristic (fiqh) arguments; he uses a comparative approach, engaging with modern economic doctrines and providing logical, philosophical, and theological foundations for the Islamic economic model.
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He also draws from Quranic teachings, hadith, and principles of Sharia to ground his economic outlook.
6. Impact and Legacy
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Iqtisaduna is often cited as foundational in modern Islamic economics. Many Islamic economists refer back to his framework and arguments.
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It has influenced how Islamic banking / finance developed in Shia-majority contexts and beyond.
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His ideas continue to be studied for their intellectual rigor and as a model of integrating Islamic morality into economic structures.
7. Translation and Publication Notes
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The English translation was done (or at least sponsored) by the World Organization for Islamic Services (WOFIS).
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According to the publisher’s foreword, there were significant efforts to ensure the accuracy of translation, including review by someone fluent in both Arabic and English and knowledgeable in economics.
