“Regarding your questions concerning the Bahá’í attitude on various economic problems, such as the problem of ownership, control and distribution of capital, and of other means of production, the problem of trusts and monopolies, and such economic experiments as social cooperatives; the Teachings of Bahá’u’lláh and ‘Abdu’l-Bahá do not provide specific and detailed solutions to all such economic questions which mostly pertain to the domain of technical economics, and as such do not concern directly the Cause.
True, there are certain guiding principles in Bahá’í Sacred Writings on the subject of economics, but these do by no means cover the whole field of theoretical and applied economics, and are mostly intended to guide further Bahá’í economic writers and technicians to evolve an economic system which would function in full conformity with the spirit and the exact provisions of the Cause on this and similar subjects. The International House of Justice will have, in consultation with economic experts, to assist in the formulation and evolution of the Bahá’í economic system of the future. One thing, however, is certain, that the Cause neither accepts the theories of the Capitalistic economics in full, nor can it agree with the Marxists and Communists in their repudiation of the principle of private ownership and of the vital sacred rights of the individual.”-(From a letter written on behalf of Shoghi Effendi to an individual believer, June 10, 1930: Ibid.)
“The Teachings of Bahá’u’lláh advocate voluntary sharing, and this is a greater thing than the equalization of wealth. For equalization must be imposed from without, while sharing is a matter of free choice.”-(‘Abdu’l-Bahá: Peace More Than an End to War, Wilmette, p. 115)