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‘Civilization and its well-being as well as business prosperity

depend on productivity and people's efforts in all directions in

their own interest and profit. When people no longer do

business in order to make a living and when they cease

all gainful activity, the business of civilization slumps and

everything decays.” [Ibn Khaldun (744-820Hijrah 1332-1406AD)

Human Being are God's Vice-regent on Earth

Humankind is viewed in Genesis 1:26-28 as having a governing role. In v. 27

humankind is created in the image of God. (cf. H. W. Wolff, Anthropology of

the Old Testament, 159-64). Human beings have a role of rulership, but they

rule only as a re-presentation of God.

Encouraging economic activities throughout the lands         

          Islam is very concerned with encouraging economic activity and exhorting Muslims to hard

work that is productive and profitable, and it has strongly opposed unemployment, dependency, and

idleness and prohibited the hoarding of wealth and depending on it. For this reason Islam has not
mandated spending on the poor who are capable of working, so that it does not lead to their

dependence on charity and to laziness and idleness.

Banking and financial intermediation in an Islamic economic model

Financial intermediation is a fundamental aspect of an Islamic economic

model. It will enable to mobilize large volumes of savings and channel them

to productive investment. Without financial intermediation, mobilized savings

and investment will be very small, and therefore economic growth will be

slow.

Prohibition of Interest/ The proofs concerning the prohibition of interest

Charging and paying interest is also forbidden in the Qur'an in the strictest

terms. This prohibition is based on arguments of social justice, equality, and

property rights.

Zakat, Zakah- The fight against poverty

"Of their wealth take alms, that so thou mightiest purify and

sanctify them; …. " [The Qur'an 9:103)

The word “zakah” comes from the verb meaning to purify or cleanse. The

literal meaning of Zakat is grow (in goodness) or 'increase', 'purifying' or

'making pure'. Zakat is a certain portion of one's wealth that all Muslims who

are financially able must give as a welfare contribution for the poor and

needy, including widows and orphans, irrespective of their colour, ethnicity

or religion or other specified charitable causes in the service of God.

Restrictions on the expansion of private wealth

Investment in Islam

the standard of living is raised in our Arab societies in order that their natural and human
resourcesare enlisted together in accordance with the most advanced scientific developments and
raise the income levels in our countries and strengthen our economies such that they are able to
meet the aspirations of our people and nation.
          Investment is therefore crucial to the wellbeing of all individuals and because it is the only
means for advancement in our contemporary context, and Islam has indeed encouraged investment
and hard work, granting workers a lofty and honorable station in society, favoring them to the idle
worshippers, as work in itself is an act of worship, one which reaps profits and benefits.
The Economic System in Islam

The Key Features of Economic Thought in Islam

        Economic though in Islam is marked by a number of distinguishing features that set it apart
from conventional economic thought, for it does not favor individual liberties over those of the
collective, and nor does it favor the rights of the collective over those of the individual; rather, it
attempts to seek the common welfare of the individual and the collective at once, such that the
individual is able to continue to exercise his or her freedom thereby without harming the public
welfare and transgressing against it . . . Thus, if one is to speak of any individualist tendency in
Islam, this individualism would be very different in its definition, nature and scope from the
individualism of the capitalists, and if one were to mention any communitarian spirit, this
communitarianism would certainly be different in terms of its humanity, comprehensiveness, and
balance from the communitarian spirit of the socialists and communists. Islam is a heavenly religion
with a Divine Law, and as such, it differs significantly in its origin from any conventional law, for its
goals are of a humanist character, its teachings are based on a sound nature, and its features are
essentially moderate.
Fifth: Encouraging economic activities throughout the lands         
          Islam is very concerned with encouraging economic activity and exhorting Muslims to hard
work that is productive and profitable, and it has strongly opposed unemployment, dependency, and
idleness and prohibited the hoarding of wealth and depending on it. For this reason Islam has not
mandated spending on the poor who are capable of working, so that it does not lead to their
dependence on charity and to laziness and idleness.
          In terms of agriculture, Islam has strongly encouraged the reviving of dead lands, and the
manuals of Islamic law there are specific chapters devoted torevival of uncultivatedlands. Whoever
revives a dead land, it becomes his property, as in the saying of the Messenger, peace be upon him,
“Whoever revives an uncultivated land, it shall be his.” He also said, “The common land is for Allah
and His Messenger and then to you after that, and whoever revives an uncultivated plot of land, it
becomes his.” By the grace of this call to farming and by the grace of this encouragement to cultivate
the land, people dispersed to revive any abandoned uncultivated lands, and they began to revive
them by plowing and irrigating them, for by doing this, the land becomes their property. The Islamic
state, however, was not merely satisfied with this but resorted to the redistribution of public lands to
whoever was able to cultivate and develop them, for the state is incapable of fulfilling this
development, and by giving these lands to those who would develop them contributes to the
redevelopment of abandoned lands, allowing them to produce a yield
Sixth: Restrictions on the expansion of private wealth
        If are to consider the rulings related to money in the Islamic Sharīʿā, we would find that it is very
concerned with placing restrictions on the expansion of private wealth, so as to ensure that this
wealth is not wielded by its owners as a weapon against the public weal. Given that Islam has
safeguarded people’s wealth from any attacks against it, its owners must then ensure not to use it in
ways that are harmful to others
The wealthy owner has an obligation to fulfill his financial duties with his wealth,such as paying the
alms of Zakat and other duties of social solidarity. If the owner refuses to pay these dues that are
obligatory upon his wealth, the state has the right to secure such payments through the power
vested in its authority and to secure them for the poor and needy and for any projects related to the
public weal.

Seventh: The fight against poverty

  Every economic system strives to fulfill certain objectives, and among the most important objectives
for economic studies and financial policiesrelating to Islamic legislative thoughtis the fight against
poverty, as the phenomenon of poverty is a social illness, and the dangers of its reality do not extend
to those who are poor alone but rather go on to affect the society as a whole. Society cannot be
established on a firm and solid foundation, while a section of its people suffers from the plights of
poverty and is afflicted by its scourge. Thus, any religious, nationalist, or moral call is bound to have
little impact on a people’s state as long as it is not tied to any foundational reforms that are aimed at
relieving this continuous source of suffering, for poverty constitutes a dangerous illness, and it is up
to the reformers, if they hope to gain any attentive ears, to establish their call on the eradication of
this deadly scourge and destructive danger . . Otherwise, any such call to reform would fall on deaf
ears and result in no more than empty rhetoric that has no resonance with the people.
          Islam’s response to the phenomenon of poverty has always been decisive, as it has affirmed
the concept of sharing a portion of one’s wealth between the rich and the poor, and this sharing of a
specific portion is renewed annually and applies to all types of assets that are raised, be it money,
real estate, personal effects, or crops . . This share ought to not to be associated with the desire of
its contributor, nor is it to be regarded as an act of good will or benevolence, as it is not in essentially
a chartable act that is deserving of praise and gratitude, but it is rather an obligatory duty that is due
annually upon anyone who owns wealth, willingly or unwillingly, and it is the duty of the state to
collect it and redistribute it to the needy who are deserving of it.
          Islam has not sufficed itself with outlining this financial obligation but has also mentioned other
obligations upon the wealthy that are by no means less significant or worthy than the Zakat, such as
the duties of social integration inall their material sense, including forms of financial support,
expiations, charity,blood money, endowments, and bequests.
          The financial obligations that are due upon the wealthy are by no means restricted to what we
have mentioned in terms of their amount, but they rather extend according to what is needed to
cover all the basic social needs in cases where poverty is widespread since it would be Islamically
inconceivable to tolerate a poor class that is utterly destitute and incapable of feeding itself, while an
other social class lives a life of prosperity, extravagance, and ease . . For this reason, the noble
Messenger affirmed the idea of sharing between the two camps of the Muhājirīn (Migrators) (al-
Muhajirīn) and the Anṣār (Supporters), and he specified that the Migrators specifically as the
recipients of assistance in this case, in order that the wealth does not remain hoarded amongst a
minority of the wealthy, and said concerning this,”Whoever has an extra mount shall give it to the
one without a mount, and whoever has any extra provisions shall give to the one with no provisions.”
The narrator of this ḥadīth Abu Saʿīd, commented on it, saying, “And he continued to list the different
types of wealth, until it became clear to us that we had no right to keep anything of what we had in
excess.”It was also narrated that the Messenger of Allah, Allah’s peace and blessings be upon him,
said, “Whoever has food for two shall fetch a third, and whoever has food for four, shall fetch a fifth
or a sixth.” It was also narrated on the authority of ʿAlī b. AbīṬālib that he said, “Allah has decreed
that the rich provide of their wealth to the extent that they are able to meet the needs of the poor
among them, and if they are left to go hungry, bare and exhausted, then it is by the will of the
wealthy, and Allah, the Most Exalted, has the right to hold them to account for this and punish them
for it on the Day of Judgment.” 
The Islamic Perspective on Private Property 
          Private property constitutes one of the pillars upon which society is founded, and it would be
inconceivable for any society to deny or ignore the concept of proprietorship because the drive for
ownership is something that is instinctively ingrained in the human psyche, and this drive can be
quite strong amongst certain peoples and individuals, while weak amongst others. However, it would
be impossible to deny it altogether without any intransigence or difficulty. And if we are to consider
that some regimes have attempted to eliminate private ownership all together, we are still left with
the inescapable reality that such regimes would never be able to overcome the hidden and
instinctively human drive for ownership, as the human being from the beginning of his or her
childhood can be seen longing and looking to possess small objects, and once this drive grows
stronger and is developed further as he or she is able to understand what it means to possess or
own something, this drive will eventually propel him or her to work harder and to exert an effort, and
to earn and income, as it is the most immediate material incentive that affects human behavior and
productivity.  
          Especially given that economic studies today seek a great level of sophistication in supplying
the material and spiritual incentives of individuals, so as to encourage them in increasing their work
and productivity, the elimination of private property would effectively serve as a defining detrimental
factor in killing the sense of motivation within the human being, which would make any work appear
as a loathed duty and lead to a preference for slacking off.
          Given the above, it is only natural that Islam would affirm the concept of private property as
something to be celebrated, except that it would also not wish for private property to constitute a
burden on society and for proprietors to transgress in their exploitation of it and their investment in it.
For this reason, Islam has surrounded this concept with many restrictions, duties, and conditions,
such that it may be steered in an appropriate direction that contributes to the wellbeing of the
individual and that serves the advancement of society. 
The State’s Supervision of Economic Affairs
        Since the duty of the state is to protect society’s interests, it must have some form of
commission established to provide some oversight over the civil transactions that take place within it,
and this is primarily achieved through the establishment of specific regulations that are meant to
preserve civil rights and that are subject to the prevailing social conditions. As such, the state must
strive to legislate the necessary laws that are needed to preserve people’s rights, and any law that is
intended to this effect or to protecting the interests of a certain segment of society is not only
permissible in Islam but in fact required on the condition that it meets the description of the objective
it aims to achieve and that it does not violate the rights of any individual from among the people.
From among these laws that must be legislated by the state for the preservation of the public weal
are labour laws that are meant to determine the number of working hours, fix minimum wages,
establish vacation pay, establish a social security net, and provide employment insurance for
unanticipated layoffs. The proof for Islam’s need of such laws is that Islam has come to protect
public interests and labourers, for this the class that exerts the greatest effort, and what they
produce is more worthy of protection and care. As such, it is the duty of the state to protect them
against arbitrary treatment and exploitation, as it is unlawful subject their lives and the lives of their
families to the whims of their employers who may derive personal benefit from cheating them and
paying them minimally for their work. Thus, should the state have no interest in securing universal
healthcare and education for the children of the patiently striving working class, it should at least
ensure to collect the Zakat from the wealthy so as to assist in providing them with a dignified living.
          If the state is able to assist in securing this general masses with its right to a dignified living, it
would deter them from turning to these suspicious groups that only desire to exploit the people as
instruments for the actualization of political ends. On the other hand, if this section of the masses
were to turn instead to Islam, which is their religion and creed, it would find therein the financial
regulations that would guarantee its dignified economic right to a generous life. Thus, the fact that
Islam never was and never can be a religion of injustice and that it would be inconceivable for it to
accede to any form of exploitation under any given circumstanceshould suffice such people as a
source of great pride; Islam has granted them the right to share annually in a portion of what the
wealthy make, and this allotted portion is sufficient enough to meet all the needs of the poor and
need to guarantee them with a dignified existence.
         
The Islamic Inspection Regime (Ḥisba)
 
          Under its golden age, the Islamic state depended on a system that enabled it to inspect the
markets, financial dealings, merchandise, and public benefits in general, and this system was
developed into an official inspection regime (wilāyat al-ḥisba).
          This inspection regime functions as an inspection commissionthat is tasked with overseeing
and maintaining all that pertains to protecting the interests of society, so as to assist the state with its
supervisory role and with combatting all forms of corruption, exploitation and harm.
          Many books have been authored on the topic of inspection and the duties of the inspector,
and they all affirm the duty of the state in protecting society against the dangers of those who are
accustomed to exploitation and whose conscience is incapable of deterring them from committing
prohibited offences that harm people.
          Al-Mawardī states in his work al-Aḥkām al-Sulṭāniyya: “In the case of detested transactions
such as those involving interest, corrupt sales, and the sale of what the Sharīʿa has prohibited while
both the parties to the transaction agree to it and are aware of its unlawfulness, the inspection
regime has the authority to and must condemn them, prevent them, and punish them depending on
the gravity of the violation. Among such transactions are the cheating merchandise and manipulating
costs, which must be condemned, prevented, and punished depending on the circumstance, for if
this cheating is intended to deceive the buyer buy hiding from him the cost, then it is a more harshly
condemned offence that is more sinful, which ought to be more strongly condemned and punished,
whereas if the nothing is kept hidden from the buyer, it would be less sinful and not as serious.”
The Islamic Ruling on Interest Based Transactions
        The topic of interest-based transactions is among the most controversial topics that is likely to
generate much debate in our social gatherings due to the interconnectedness of our daily
transactions and their relationship to the banks that play a pivotal role in our contemporary economic
lives.
          At this juncture, we cannot delve into this challenge in a manner that is able to address any of
its ambiguities without first addressing some basic principles and key points that can clarify the
details of the problem.
 
The Islamic Ruling On Interest (Ribā)
         
          I do not believe that anyone can oppose the prohibition against interest (in Islam), for it is
clearly prohibited by an explicit text of the Qurʾān, and as such, this topic does not require any
further debate or disagreement since there is no room for any independent legal reasoning on the
intended meaning of the text.
          Thus the point of contention is not over the prohibition of interest but is rather related to what
is intended by the word ribā (interest). So what is the prohibited ‘ribā’? If we are able to define
thisribāwith a comprehensive all encompassing definition we would be able to achieved the desired
result, however defining this term and knowing what is intended by it is by no means easy, and
scholars and jurists have persevered since the origins of Islam till the present day in studying the
topic of interest, and their disagreements historically were no different than what we see today.
Accordingly, we are in no need today of clarifying the ruling concerning interest, due to the clarity of
the ruling presented in the Qurʾānic text, where in God, the Most Exalted, states, “While Allah has
made trade lawful but has forbidden financial interest.” What we need instead need to understand is
the nature of banking transactions and which of these would fall under ribā, and is hence prohibited,
and which would fall under the default of permissibility.
          I admit from the start that no researcher in this topic is able to ascertain in an absolutely
definitive sense his conclusions given the vagueness of the relevant sources and proofs, for though
these proofs are definitive in terms of clarifying the ruling onribā, they are by no means definitive
when it comes to clarifying what is intended byribā; for had there been sufficient clarity in its
definition, there would have been no need for debate amongst the jurists since no one would
consciously dare to defy a definitive proof. For this reason, there ought to be a specialized Islamic
legal academy where scholars specialized in this topic are able to conduct an objectivestudy that
can reach the most accurate position possible, and it is only natural that there would be no
unanimous consensus (ijmāʿ) or agreement, given that consensus is impossible on matters that are
subject to legitimate differences of legal opinion. However, providing a scholarly survey on this topic
taking into consideration the nature of financial transactions today is more likely to narrow the gap of
disagreements amongst the specialists by clarifying the majority position among them, in order that
people may reach an agreed upon ruling with regards to their daily financial transactions.
          The proofs concerning the prohibition of interest: As we mentioned above, interest is
forbidden by a clear Qurʾānic text, and here we shall provide the relevant Qurʾānic proofs
concerning its prohibition in order to clarify the gradualism with which the Noble Qurʾānhas sought to
enforce its prohibitions, which is the same process with which the Qurʾān hasprohibited the
consumption of intoxicants.
        Interest is mentioned in four verses, once as a Meccan revelation and the other three in
Medina, which highlights Qurʾān’s concern with stamping out this detested transaction, which is
defined as an ugly form of exploitation that is rejected by the humanist spiritand from which human
nature flees. Thus, the first verse seeks to alienate interest and to clarify that is something
undesirable, while encouraging the payment of Zakat,which is rewarded many fold with Allah,
without the mention of an explicit prohibition. As the Most Exalted states, “Whatever you give out
with interest that it may grow in people’s money, does not grow with Allah. As for what you give of
Zakat, desiring with it the Countenance of Allah, suchare the ones whose wealth is multiplied” [al-
Rūm: 39].
          The next verse then came to rebuke the Jews who are described as taking interest, while they
were forbidden from it, and as eating the wealth of the people unjustly. Even though it still did not
explicitly prohibit interest up to this point, the general flow of the verse strongly hints at the
undesirability of engaging in interest, while preparing the human conscience for its eventual
prohibition. As the Most Exalted states, “For the transgression from the Jews, We prohibited upon
them some of the good things that had been previously lawful and for their deterring of many people
from the path of Allah and for their taking of interest, when they were prohibited from it, and for their
consumption of people’s wealth unjustly. And we have prepared for the disbelievers amongst them a
most painful punishment” [al-Nisāʾ: 160-161].
          The third verse then came to prohibit compounded interest. As Allah, the Most Exalted, states,
“Oyou who believe! Do not eat of interest, compounded over and over, and fear Allah, perchance
you may succeed” [Āl-ʿImrān]. Had Islam sufficed itself with this verse, which only prohibits
compounded interest, some would be justified in arguing that what is prohibited is compounded
interest and not the simple interest rates, however, the fourth verse has decisively precluded any
room for disagreement by staunchly declaring its prohibition in His statement, the Most Exalted,
“Those who devour interest do not stand up except as the one has been roughed up by the Satan
with his touch. That is because they said trade is similar to the charging of interest, but Allah has
made trade lawful but forbidden interest. Whoever receives this admonition from His Lord and
desists shall keep what has already come to pass and his affair is with Allah, and as for he who
returns, then such are the People of the Fire, wherein they shall abide” [al-Baqara: 275]. As He
states after this, “O you who believe! Remain conscious of Allah and cease whatever remains of
interest if you are truly believers. And if you fail to do so, then beware of war from Allah and His
Messenger, but if you repent, then you shall have back your principal; thus you shall not wrong nor
shall you be wronged” [al-Baqara: 278-279].
          With this definitive text that is categorical and decisive, the ruling concerning interest is a clear
prohibition that is not subject to further doubts or confusion, given the clarity and categorical nature
of the proof.
          There are many ḥadīth reports narrated from the Messenger, Allah’s peace and blessings be
upon him, all of which confirm the prohibition of interest in all its forms. Among these is what the
noble Messenger has said in his farewell sermon: “Hence all interest obligations from the days of
ignorance shall henceforth be waived. Your capital is however yours to keep. You shall not wrong
nor shall you be wronged.” Among them also is his saying, may Allah’s peace and blessings be upon
him: “Allah has cursed the consumer of interest, its giver, the one who witnesses it and the scribe
who transcribes the transaction.”Furthermore, he said, “None shall devour interest except that that
his final outcome is scarcity.”
          It is said concerning the reason for revealing its prohibition is that some of the Arab tribes
during the Age of Ignorance (al-jāhiliyya) used to deal in interest, and when Islam came and they
entered its fold, they disputed amongst themselves concerning the charging of interest. This
occasioned the revelation prohibiting all forms of interest, be it at a low or high rate.
          Islam has thus rebuked the use of interest very strongly, and it has not merely sufficed itself
with its prohibition but has rather sought to warn those who engage in it with a severe punishment, in
a manner that strikes fear into the hearts and souls, threatening them with destruction, war, and a
horrible fate, addressing them with the words, “Be ware of war from Allah and His Messenger” and
“Allah wipes out interest.”
 
Investment in Islam
 
          Financial investments are indispensible to our contemporary age, and the need for them is
ever more urgent given the rapid population explosion that is reason for concern and that continues
to threaten humanity with famine, poverty and extinction due to the lack of sufficient natural
resources in meeting the needs of humanity, from one angle, and due to the detrimental ways in
which they are invested, from another. If only these natural resources that are at the disposal of
humanity were invested in accordance with the most advanced scientific standards, they would
surely be sufficient in meeting all the needs of all modern societies. Thus, it is imperative that the
standard of living is raised in our Arab societies in order that their natural and human resourcesare
enlisted together in accordance with the most advanced scientific developments and raise the
income levels in our countries and strengthen our economies such that they are able to meet the
aspirations of our people and nation.
          Investment is therefore crucial to the wellbeing of all individuals and because it is the only
means for advancement in our contemporary context, and Islam has indeed encouraged investment
and hard work, granting workers a lofty and honorable station in society, favoring them to the idle
worshippers, as work in itself is an act of worship, one which reaps profits and benefits.
The Islamic Alternative to Interest
 
        Though Islam has prohibited has prohibited any investment that does away with the equal
share of responsibility between both parties to the agreement, it has paved the path for those with
the capital and those with the requisite competencies to establish investment agreements to invest
their capital and investment skills; those with the capital contribute with their money, while those who
have the requisite competencies contribute with their skills and effort, and the profits are then shared
in accordance with what both parties have agreed upon.
          This type of agreement is called “al-muḍārabawalqarāḍ” (lsilent partnership and loaning) in
Islamic law, and it means that the parties to an investment agreement are to share in the material,
physical, and mental contribution on the understanding that the profits are split in accordance with
agreed upon percentages for each. Such an agreement without a doubt would actualize fairness in
its most refined sense, while providing the worker with the necessary material incentive to work hard,
as it motivates him to contribute more knowing that he has a share in the profits and that a portion of
this profit shall be his.
          The Muslim jurists have the defined a “mudāraba” agreement as follows: it is an agreement
where one party contributes with his money and the other with his work.” Others have defined it as,
“An agreement consisting of an authorization by a capital owner to a partner to invest his money with
the understanding that the profits are shared between the two.”
          The word mudārabais taken from al-ḍarbfilarḍ, which meansto travel the land, which is
understood to mean traveling for the purpose of trade, as can be seen in the statement of the Most
Exalted, “And others who travel the land (yaḍribūnafilarḍ).” The Ḥanafī jurists have thus taken the
term “mudāraba,” which was in common use in Iraq, whereas the jurists of the Shafiʿī school used
the term “qarāḍ” (loaning), which comes from qarḍ and literally means to sever, as if to say that the
one with the capital has severed a portion of his wealth to give to his partner. Also, qarāḍis derived
from equivalence (musāwāh) and balancing (muwāzanah), as if to say each of the two parties aims
to share his contribution either through the financing or through the work.
          There used to be a number of Companions who used to deal in mudārabaagreements,
because this type of partnership actualizes true benefits to those with the capital and those with the
skills; it may be that those with the capital may not have the requisite skills or entrepreneurial
abilities, whereas those who are skilled may not have the required capital to work with. Thus,
affirming this type of agreement and partnership is bound to actualize its benefits for both parties in a
manner that guaranteed and that is free from exploitation or inequity.
          The wisdom in Islam’s affirmation of this type of investment lies in the fact that irrespective of
the guarantees that may be give, investments will always remain by their nature risky endeavors that
are subject to losses. It would thus be inequitable to expect the party exerting most of the effort to
also bear full responsibility for any losses that may be incurred, while the party owning the capital
that barely exerts any of the effort is guaranteed his full principal and its associated profits . . For this
reasons, it is only right that both partners share in the risk by bearing brunt of any losses that may
accrue, with the understanding that any profits are also shared.
The Importance of Establishing an Economy that is in Harmony with the Islamic Creed
        Some people may be of the opinion that establishing an Islamic system with regards to the
economy and finances means to permanently seal the banks closed and to do without them all
together, as they are held to go against the Islamic teachings that prohibit interest. But since these
institutions play a tremendous role in our economic lives, then partaking in such an Islamic system
could only lead to the total collapse of commerce and of our political, economic, and financial orders
as we know them.
 And with this we conclude by saying that our Arab societies today are in dire need to re-evaluate
their position vis-à-vis the global economic order that without a doubt is directly opposed to the
interests of our Ummah, and the problem is by no means restricted to the gloomy image that has
been associated with the use of interest but rather extends to the very nature of the economic order,
which is at its base a monopolistic, exploitative and greedy system that serves to perpetuate our
backward reality and that plunders our national resources through the manufacture of successive
financial crises, while we continually pant in desperation as werush to treat their detrimental
consequences that are harmful to our most vital interests.