To be economical in shopping and generous in giving

While reading the book Musa Efendi, From the Language of His Lovers, published by Erkam Publications, a section caught my attention.

It is stated that Musa Efendi gave the following advice on the subject of charity, based on a quote from himself:

Know well that whether you live in Dolmabahçe Palace or Topkapı Palace, you are still compelled to live in asceticism. Therefore, carry wealth and possessions only outside your heart. If you do not spend your surplus in the path of God, you are being ungrateful for the blessings God has bestowed. Remember, blessings not spent are wasted. The reckoning for wasted blessings is a heavy burden in the afterlife.

Again, even when he was young, Musa Efendi would ask the people closest to him how much they paid for the apples and oranges they bought, and would say, “Have you checked all the prices in the bazaar?”

He considered it a waste to buy for three lira something of the same quality that could have been bought for two lira, and he admonished those around him to be frugal. In short, he was meticulous in his personal spending and took pleasure in giving as much as he could in the cause of God.

I won't write a religious text inspired by the sections I've summarized above. I'll evaluate these recommendations through the lens of an economist.

First, it's worth briefly touching on the concept of asceticism. In the same work, it's explained as being content with sufficient amounts of blessings while using them for one's own self. From an economic perspective, we can also see it as a concept that encourages meeting needs and, in particular, avoiding excessive consumption.

Musa Efendi advises those around him to conduct price research when purchasing goods. One of the characteristics of a perfectly competitive market, used in economics to describe the ideal market, is that buyers and sellers have complete information about the market. In other words, buyers and sellers are aware of all market prices. Price research serves as a way to prevent being deceived by purchasing expensive products. It also serves to ensure that sellers, through buyers, are aware of market prices.

Musa Efendi considers it a waste to buy a product for three lira that could be purchased for two lira. He advises consumers to access quality goods at a low price. This behavior may be perceived as stinginess by some. The "I have money, why should I travel? I'll just buy whatever I like" approach is actually inflationary. While it helps keep expensive products in the market, it makes producers less sensitive to costs. The consumer, thinking they'll be buying at that price anyway, becomes a factor that hinders the production of cheap, high-quality goods. Poor quality production leads to overconsumption and waste.

Under the law of supply and demand, finding buyers for products of the same quality at a higher price encourages production. Conversely, consumers' demand for both high-quality and lower-cost goods through price research encourages producers to reduce their costs and increase production.

In fact, Musa Efendi's price research and his advice to seek out goods of the same quality at more affordable prices fundamentally impact numerous micro- and macroeconomic issues, including production, resource use, price formation, inflation, income distribution, productivity, and competition. From an economic perspective, producer behavior is shaped by consumer behavior. Consumers' high price sensitivity leads producers to reduce costs and produce cheaper goods. This also supports the more efficient use of economic resources.

According to consumer behavior theories, a subject of microeconomics, individuals can consume a certain amount and variety of goods and services within their budget. To increase consumption, they must either increase their budget or consume less expensive goods and services. Consumers who find the same quality at a lower price through price research will have the opportunity to consume more and more diversely without increasing their budget compared to those who do not price research.

Regarding the issue of charity, a person who seeks quality and affordable goods to meet their own needs often ends up giving away more of what they save to those in need. In other words, they give more to others without receiving any material reward than they spend on themselves. A different model of humanity emerges from the consumption- and self-centered homo economicus model of classical economics.

This model of a person who meticulously cares for their own needs represents a frugal person , somewhere between stinginess and extravagance. This person is not the type of person who buys goods cheaply and leaves no profit for the seller. This person is not the opportunist who tries to buy cheaply by disparaging the goods. This person is not the careless person who thinks deceiving others is cunning. Conversely, this person is not the type who doesn't mind buying expensive goods because they have money, who trusts in their abundance, or who worries about being labeled a miser because they're looking for affordable goods.

This person is a generous person who does not waste his money, exhibits frugal and rational economic behavior, and is generous in giving.

Dr. Yüksel KELEŞ \ Timeturk