Islamic economics and capitalism

In a world were capitalism has made its way through 123

of 197 countries, it’s hard to consider, coming from a
nation that follows its ideals, that any other way of
economy and organization could even take place. When
we think about capitalism, we think about big and
developed countries, innovation and in most scenarios,
efficient production. However, if we look at our history
and some of the world’s current problems, it starts to
seem not as clean and smooth as people hope it would
be.
Capitalism is an economy based on free markets where
resources are privately owned. It has proved to be a
good way of market in many ways, such as providing
efficient production methods and also of always
searching to improve and innovate. On the other hand,
with growth of companies and monopoly, the power
tends to get out of control in addition of the external
cost it produces, giving a loss of natural resources.
The law of demand rules capitalism. As it increases,
price rises, just as well as the profit and production.
Taking into consideration the constant competition that
owners of supply go through we can say that the path of
success is not easy, without mentioning the fact that
those who don’t have the skills of competition are
usually left behind creating a limit of diversity and a lack
of equal opportunity.
Governments should be ruled by unity, equilibrium, free
will and responsibility, components that Islamic
economic provides. Looking out for equality, we can say
that the best way of creating it is by following principles
and also by having empathy towards others.
Throughout years, Islamic economic has been left under
the shadow of the modern world because of its beliefs.
Therefore, it has lost its impact. Muslims believe in
sharing wealth and in always taking care of those in
need, reflecting what God to them has given, justice and
kindness. In fact, every single person, for them, has a
basic standard of living that can’t be abused, always
knowing that others needs matter. On the other hand,
by giving free will, it allows them to shape their destiny,
from good or bad, always considering the responsibility
that being a human means to them.
All in all, world’s problems reduce to the constant
competition it daily goes through, specifically creating
selfishness and lack of kindness. Islamic governments
give us an alternative that only requires for us to
believe, help others, being generous and less ambitious.
Furthermore, it also gives equality, vanishing out
problems capitalism has given.
Islamic economics and capitalism
In a world were capitalism has made its way through 123
of 197 countries, it’s hard to consider, that any other
way of economy and organization could even take place.
When we think about capitalism, we think about big and
developed countries, innovation and in most scenarios,
efficient production. However, if we look at our history
and some of the world’s current problems, it starts to
seem not as clean and smooth as people hope it would
be.
The law of demand rules capitalism. As it increases,
price rises, just as well as profit and production. Taking
into consideration the constant competition that
owners of supply go through we can say that the path of
success is not easy, without mentioning the fact that
those who don’t have the skills of competition are
usually left behind creating a limit of diversity and a lack
of equal opportunity. Also, with growth of companies
and monopoly, the power tends to get out of control.
Governments should be ruled by unity, equilibrium, free
will and responsibility, components that Islamic
economic provides.
Throughout years it has been left under the shadow of
the modern world because of its beliefs. Therefore, it
has lost its impact. Muslims believe in sharing wealth
and in always taking care of those in need, reflecting
what God to them has given, justice and kindness. In
fact, every single person, has a basic standard of living
knowing that others needs matter. On the other hand,
by giving free will, it allows them to shape their destiny,
considering the responsibility that being human means
to them.
All in all, world’s problems reduce to the constant
competition it goes through, specifically creating
selfishness. Islamic governments gives an alternative
that only requires to believe, being generous and less
ambitious. Furthermore, it also gives equality, vanishing
out problems capitalism has given.