“There are practically no technical teachings on economics in the Cause, such as banking, the price system, and others. The Cause is not an economic system, nor 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 which will adjust the economic relationships of the world...
“Social inequality is the inevitable outcome of the natural inequality of man. Human beings are different in ability and should, therefore, be different in their social and economic standing. Extremes of wealth and poverty should, however, be abolished...
“The Master has definitely stated that wages should be unequal, simply because that men are unequal in their ability and hence should receive wages that would correspond to their varying capacities and resources.”
56: ECONOMIC TEACHINGS
“As regards the activities of the economic committee of the National Assembly; Shoghi Effendi fully sympathizes with the desire of some of the members to see the Committee find ways and means to put into practice the economic teachings of the Cause, as explained in some of the recorded Writings and Sayings of Bahá’u’lláh and the Master. But he believes that the time is not yet ripe for such activities. First we have to study the economic teachings in the light of modern problems more thoroughly so that we may advocate what the Founders of the Faith say and not what we conjecture from Their Writings. There is great difference between sounding a great general principle and finding its application to actual prevailing conditions. Secondly, the Cause is not financially in a position to launch itself in such undertakings at present. Such plans need great financial backing to be worked out in a permanent form. In time, Shoghi Effendi hopes all these things will come to pass. For the present we have to consolidate our basic institutions and spread the teachings and spirit of the Faith among the public.”