Knowledge as the real essence
By Dr Riffat Hassan
ISLAM regards the seeking of knowledge as an ethical imperative, and an endeavour highly pleasing to God. Amongst the sources of knowledge, the Quran particularly emphasises the following: revelation and practice of the Holy Prophet (PBUH); reason; empirical inquiry; history and intuition.
From the Quranic perspective, knowledge is not limited to what is learnt through a reasoning mind or the senses. Acquisition of knowledge requires a total involvement of the seeker in relation to the total reality. To become a “total” or a “whole” person, integration of the diverse, often mutually conflicting, aspects of one’s outer and inner self is required, as sages through the centuries have taught.
By identifying and endorsing the diverse sources of knowledge often considered to be mutually opposing (as revelation and reason, or reason and intuition), the Quran points to both the possibility of, and the need for, an integration or synthesis leading to a unity of knowledge that subsumes the multiplicity of the sources of knowledge. That the Quranic vision had been internalised by Allama Iqbal, for instance, is clear from his statement: “Modern India ought to focus on the discovery of man as a personality — as an independent “whole” in an all-embracing synthesis of life. But does our education today tend to awaken in us such a sense of inner wholeness? My answer is ‘No’. ...The soul of man is left untouched and the result is a superficial knowledge with a mere illusion of culture and freedom. Amidst this predominantly intellectual culture which must accentuate separate centres within the ‘whole’, the duty of higher minds… is to reveal the inner synthesis of life.”
The Quran urges the seeking of knowledge so that through it both inner and outer reality may be transformed. It is in the essence of a river to flow and the sun to give light. Likewise, it is in the essence of an alim (scholar) to translate knowledge into objective reality as did the Prophet of Islam (PBUH). The Quran calls those who know but do not act jahilun (ignorant ones). Understood in these terms, an alim is one who strives in the way of God.
The high rate of illiteracy amongst Muslims, especially women, is both a tragedy and irony, given the importance accorded to acquisition of knowledge by Islam. The Quran refers more than one hundred times to God as Alim (One who knows), and the very first verse revealed to the Prophet Muhammad (PBUH) links to divine bounty the human ability to write and to know (Surah 96: 1)
The Quran describes the Prophet of Islam as one taught by God (Surah 4: 113) and as an imparter of knowledge to others (Surah 2: 151) but commands him, nevertheless, to pray: “O my Sustainer, cause me to grow in knowledge” (Surah 20: 114). About those who have knowledge, the Quran says that they have been given great wealth (Surah 2: 269), and will be exalted by God (Surah 58: 11)
The Quranic perspective is also reflected in a number of well-known ahadith. For instance: “The seeking of knowledge is obligatory upon every Muslim” (Baihaqi, Mishkat); “Search for knowledge is compulsory for every Muslim, male and female: (Ibn Majah); “He who goes forth in search of knowledge is in the way of Allah till he returns” (Tirmidhi, Darimi); “Search for knowledge though it be in China: (Baihaqi); “Whoever searches after knowledge, it will be expiation for his past sins.” (Tirmidhi)
The high priority given to his community’s education by the Prophet (PBUH) is attested by Goldziher thus: “That Muhammad himself — partly, it may be, on utilitarian grounds — attached considerable importance to the acquisition of the most indispensable elements of knowledge, may be inferred from the conditions on which he released prisoners of war after his victory at Badr. He employed several Quraish captives to teach the boys of Medina to write, and this service counted as their ransom.”
The Prophet’s attitude had a strong impact on his community as pointed out by Semaan: “In the realm of education, we may say, Muhammad instituted learning as an incumbent duty upon his people and this established a definite educational policy for Islam.”
Gulick expresses the belief that the knowledge affirming ahadith which “have been widely accepted as authentic and... have exerted a wide and salutary influence… must assuredly have stimulated and encouraged the great thinkers of the golden age of Islamic civilisation.” n
The writer is a scholar of Iqbal and Islam, teaching at the University of Louisville, USA.
Email: rshass01@gwise.louisville.edu


The fruit of hypocrisy
By Joseph Stiglitz
HOUSES of cards, chickens coming home to roost — pick your cliche. The new low in the financial crisis, which has prompted comparisons with the 1929 Wall Street crash, is the fruit of a pattern of dishonesty on the part of financial institutions, and incompetence on the part of policymakers.
We had become accustomed to the hypocrisy. The banks reject any suggestion they should face regulation, rebuff any move towards anti-trust measures — yet when trouble strikes, all of a sudden they demand state intervention: they must be bailed out; they are too big, too important to be allowed to fail.
Eventually, however, we were always going to learn how big the safety net was. And a sign of the limits of the US Federal Reserve and treasury’s willingness to rescue comes with the collapse of the investment bank Lehman Brothers, one of the most famous Wall Street names.
The big question always centres on systemic risk: to what extent does the collapse of an institution imperil the financial system as a whole? Wall Street has always been quick to overstate systemic risk — take, for example, the 1994 Mexican financial crisis — but loath to allow examination of their own dealings. Last week the US treasury secretary, Henry Paulson, judged there was sufficient systemic risk to warrant a government rescue of mortgage giants Fannie Mae and Freddie Mac; but there was not sufficient systemic risk seen in Lehman.
The present financial crisis springs from a catastrophic collapse in confidence. The banks were laying huge bets with each other over loans and assets. Complex transactions were designed to move risk and disguise the sliding value of assets. In this game there are winners and losers. And it’s not a zero-sum game, it’s a negative-sum game: as people wake up to the smoke and mirrors in the financial system, as people grow averse to risk, losses occur; the market as a whole plummets and everyone loses.
Financial markets hinge on trust, and that trust has eroded. Lehman’s collapse marks at the very least a powerful symbol of a new low in confidence, and the reverberations will continue.
The crisis in trust extends beyond banks. In the global context, there is dwindling confidence in US policymakers. At July’s G8 meeting in Hokkaido the US delivered assurances that things were turning around at last. The weeks since have done nothing but confirm any global mistrust of government experts.
How seriously, then, should we take comparisons with the crash of 1929? Most economists believe we have the monetary and fiscal instruments and understanding to avoid collapse on that scale. And yet the IMF and the US treasury, together with central banks and finance ministers from many other countries, are capable of supporting the sort of “rescue” policies that led Indonesia to economic disaster in 1998.
Moreover, it is difficult to have faith in the policy wherewithal of a government that oversaw the utter mismanagement of the war in Iraq and the response to Hurricane Katrina. If any administration can turn this crisis into another depression, it is the Bush administration.
America’s financial system failed in its two crucial responsibilities: managing risk and allocating capital. The industry as a whole has not been doing what it should be doing — for instance creating products that help Americans manage critical risks, such as staying in their homes when interest rates rise or house prices fall — and it must now face change in its regulatory structures. Regrettably, many of the worst elements of the US financial system — toxic mortgages and the practices that led to them — were exported to the rest of the world.
It was all done in the name of innovation, and any regulatory initiative was fought away with claims that it would suppress that innovation. They were innovating, all right, but not in ways that made the economy stronger. Some of America’s best and brightest were devoting their talents to getting around standards and regulations designed to ensure the efficiency of the economy and the safety of the banking system. Unfortunately, they were far too successful, and we are all — homeowners, workers, investors, taxpayers — paying the price.
The writer is recipient of the 2001 Nobel prize in economics.
— The Guardian, London


