Main ideas of Islamic economic system (2)

-      Classical capitalism is an economic doctrine based on the idea of private ownership of the means of production and distribution.

-      From the theoretical point of view, it is a system in which the capitalist is given a free hand.

-      Under concept of basic capitalism the government does not regulate anything for the benefit of the workers.

-      Everything is left on the principle of supply and demand.

-      The rich get richer and the poor get poorer.

-      Poverty is equated to idleness; personal shortcomings are considered the chief cause of poverty.

-      In its ideal system, capitalism has no room for compassion and benevolence towards the poor and the needy.

-      A similar mentality also existed among some aristocrats of Mecca.

-      The Qur'ân says, “When it is said to them, `Give charity from what God has given to you,' the unbelievers say to the believers, `Should we feed the person whom God, if He wished, could feed?'”

From the article by Sayyid Muhammad Rizvi, www.imamreza.net