The growing Occupy Wall Street movement has gained attention as a popular expression of general discontent with the inequities evident in modern western finance. However, it has been criticized for lacking focus and presenting no coherent alternative.
Could more Muslim participation be of further help?
Because without question the movement was inspired by the non-violent, world changing protests of Egypt's heroic citizens in Tahrir Square. In fact, Occupy Wall Street's website states on the front page,
"Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99 Percent that will no longer tolerate the greed and corruption of the 1 percent. We are using the revolutionary Arab Spring tactic to achieve our ends and encourage the use of nonviolence to maximize the safety of all participants."
Now, I know a viable take on macro-economic reality isn't what Islam is best known for in America, but Muslims actually did a pretty fair job of managing world-commerce for a few hundred years.
And that failed for much the same reason as most good things do: not because the principles were wrong, but because self-serving leaders found ways to manipulate them to their own advantage, regardless of the results for the rest of us.
But honestly? The same thing could be said about the current failures of western finance, that the responsibility rests squarely on the shoulders of the self-serving captains of Wall Street, today.
Here's the newsflash though: regardless of our faith background, or lack thereof, the different perspectives we bring to the bargaining table might actually complement each other and help make things better together. Because all the good economic models seem to follow three simple principles:
Wondering how a Muslim perspective can complement a non-Muslim one? Well, although Islam forbids riba (often translated as "interest"), it allows other equally rational means of providing access to capital in return for a predictable reward. For instance, a so-called "Muslim Mortgage" creates a partnership between a home's resident and that home's financier, with both sides exposed to the same potential benefit and risk. If the value of the house goes up and the partners choose to sell, both come out ahead. If it goes down and they sell, they don't.
Conventional "Western" mortgages, on the other hand, fix both risk and reward solely in the hands of the home's resident owner. And if that makes a lender risk-complacent while encouraging an owner to pile on risk in hopes of a windfall, tragedy often ensues.
Since most of us blame the bursting of America's real estate bubble for triggering The Great Recession, I think it's fair to ask whether it would have occurred with a more Islamic model in place.
A little "old-style" rabbinical input might have helped too: Who couldn't come out ahead with their debts forgiven every few years?
However, it's the hardships that have ensued -- and the feeling that they've been suffered mostly by those of us who live on Main Street -- that are behind Occupy Wall Street. Because when it comes to growing an economy, no one but Wall Street thinks Wall Street is on the same side as they are anymore.
No, instead it looks like Wall Street has figured out how to make Main Street take all the risks, while they takes all the rewards. In fact, Wall Street's wizards have even worked out how to make their own ships float better while our economic ocean is running dry.
The problem is hedging: a complex suite of financial techniques that make money even when everyone else is losing money, generating income in the absence of growth and perhaps even from preventing growth from happening in the first place.
It's always been easier to take money than to make money, if you can figure out how to get away with it, and it's actually legal on Wall Street. But eating from your neighbor's fridge instead of filling your own? I don't think you need to be a financial wizard to realize what a stupid growth strategy that is.
The thing is, that's what the Quran and both Bibles -- Jewish and Christian -- say is the worst thing about gambling: it brings no increase because it only makes money from the losses of others, shrinking the pot for everyone. Just like Wall Street's fancy bankers. And whether you believe that's from God's mouth or the collected wisdom of a thousand human generations, it's worth noting that they all agree that those practices only make for hard feelings, just like we're seeing toward Wall Street.
Because Wall Street's leaders seem today no better than gamblers living off our losses, the men we have entrusted with floating our boats instead sinking them, siphoning off our economy's lifeblood instead of helping it grow, gaming away all our futures with their fancy futures financing, all for the sake of their own short term rewards.
Frankly, our leaders should tell our bankers it's against the law, what they're doing. But they don't. Ever.
The bottom line? Occupy Wall Street is not crazy or unreasonable or unfocused: an honest day's pay for an honest day's work for everyone, that's all they're asking for. And until Washington and Wall Street want that too, perhaps it's time for us all to Occupy Wall Street.
Follow Dr. David Liepert on Twitter: www.twitter.com/DrDavidLiepert
Occupy Wall Street | NYC Protest for American Revolution
"Justice" for women in islamic countries is very harsh.
http://www.huffingtonpost.com/dr-david-liepert/women-in-islamic-history_b_929221.html
and Denying Aisha's Child Marriage.
http://www.huffingtonpost.com/dr-david-liepert/islamic-pedophelia_b_814332.html
For what it's worth, I completely agree with you: we've all got problems and the way many Muslims choose to treat Muslim women is one of the Muslim world's biggest ones.
However, that doesn't mean we don't have anything to contribute elsewhere, nor does it mean we shouldn't try and fix more than one problem at a time.
While introducing evil and harm into the lives of individuals, these forces have also had far- reaching consequences, damaging relations between the well to do and the poor. And between poor and richer nations.
Most regrettably, blameworthy traits like these have flourished to a degree that reflects the weakening of spiritual life and the growing strength of materialism; and men today resort to evil behavior that would have been shunned by their forefathers as out of keeping with honor and dignity.
Many men have begun to look upon a traitor as they would upon a man of intelligence who excels in good conduct and to measure his worth in terms of his success, while they remain unconcerned by the methods he has utilized, however debased they may be.
When self-respect and the honor accorded to virtue weaken, treachery thrives in international relations and international ties become seriously endangered.
Whereas the foundations of Islamic civilization are moral and spiritual, those of materialistic civilization are utilitarian.
The question to consider is which of the two deserves to serve as the stabilizing influence or bulwark. While analyzing this question, we may well uncover powerful political and economic forces working for the downfall of civilization and such forces cause aggression, occupation and oppression, discrimination, injustice in the world.
Based on the Quranic injunction below, Muslims should join the protestors movement and expose these corrupt bankers and politician who are mainly responsible for the economical mess we are in today.
"You are the best nation produced [as an example] for mankind. You enjoin what is right and forbid what is wrong and believe in Allah . If only the People of the Scripture had believed, it would have been better for them. Among them are believers, but most of them are defiantly disobedient."
(Qur'an 3:110)
Poverty is caused by an inability to earn and due to the exploitation of the weak by the economically strong
Concerning the man who cannot earn because he lacks an opportunity to work, Islam compels the state to find him work.
The rule in Islam is to work and earn. It has also exacted justice for the community by obligating the state to help find work for those who lack the means and to protect those who fail.
Islam attempts to lessen the difference in living standards of its adherents, thus combating luxury in the upper social brackets and warding off misery in the lowest.
In doing this it utilizes two media: conscience-the stronger of the two -and law. It makes the happy immortal life available only to those who give to deserving relatives and friends and to the poor.
Because of Islam's powerful appeal, the conscience of the Muslim would not rest were he to eat, dress, and make merry while his neighbours and relatives were unable to earn a living;
Islam strongly urges him to exert himself, to be satisfied with less and curb his desires, for the sake of aiding the grieving and the needy.
Islam even decrees that the master feed and clothe his servant as he would feed and clothe himself.
SERVE the rich 1% (aka Mistresses)
after getting the votes from the 99% (aka Spouses).
Americans must realize that to repeat what happened in Egypt and Libya
namely getting rid of Mubarak and Ghaddafi (aka STATUS QUO)
they must vote
Anti-Republicans
and
Anti-Democrats
If the OWS remains LEADERless;
the least that can be done is
to WRITE-IN
OWS
instead of voting for the lesser of the TWO-EVILS!
Before civil activism comes awakening of the heart, and that's what they should focus on -- a phase that need to go through a cycle of 3 generations.
Civilization therefore belongs to no one race or the super rich in particular; it benefits those who are able to sustain it until such time when, through failure to shoulder its responsibilities, they relinquish it to others more worthy of marching forward with it.
When the Jews assumed that they were the chosen people of God and hence ignored about the rules of humanity,God sent Jesus and Muhammad(pece upon them) to march forward in the cause of God and the principles of unity of humanity.
History amply testifies to the fact that no one people or race has had exclusive possession of civilization or been especially endowed with unique capacities for discernment.
I think our economic crisis started the day someone thought out a way of making money off someone else' labor.
I am 100% against any Muslim who thinks the words "Sharia" and "Law" belong in the same sentence being allowed to iimpose their views on anyone else. "Sharia" is a set of principles, that when Islam began defended an individuals rights and freedoms and gave guidance to a State regarding what rights and freedoms they had to protect.
Laws are made by us, and are prone to error, and frequently need to change, to defend those rights and respond to a changing world.
HOWEVER! There are aspects of Sharia as pertains to finance that should be considered: to improve our individual protections, and prevent banks from figuring out ways to make money by making us lose money, which is what this article is about.
1) Pass It Forward (http://www.change.org/petitions/pass-it-forward)
2) World Peace Petition (http://www.change.org/petitions/world-peace-petition)
3) Six Pillars of Character (http://www.change.org/petitions/we-party-peace-ambassadors)
It'll just take a minute!
Once you're done, please ask your family and friends to sign the petition as well. Grassroots movements succeed because people like you are willing to spread the word!
WE welcome your comments.