How Economics and Business is Addressed in the Bahá’í Faith

Abstract

Bahá'í principles are multi-dimensional in their concepts application. The Bahá'í principle of "solution of the economic problems" (`Abdu'l-Bahá, 1979, p. 32) does not refer to a Bahá'í economic system but can refer to reforms and development in the economic and business structures and goals and performance to be more ethical and responsible towards the society. Shoghi effendi describes this matter as: "Cause is not an economic system, nor can its Founders be considered as having been technical economists. The contribution of the Faith to this subject is essentially indirect, as it consists of the application of spiritual principles to our present day economic system. Bahá'u'lláh has given us a few basic principles which should guide future Bahá'í economists in establishing such institutions as will adjust the economic relations of the world." (Shoghi Effendi, 1974, pp. 27-28)