Wednesday, December 16, 2015

Economic system in Islam (34)

Continuation
The author continues about Islamic economic system:
Workers are to own their work.
For instance, mines should be owned by the workers, and not by the Capitalists.
Natural resources are not possessed by any person.
But anyone who provides the raw materials is considered as the owner of it after production, according to the second half of the rule.
That is the phenomena of persistence of possession.
This point is very important in distinguishing the Islamic Economic system from Capitalism and Communism.
At the end the author points final notes:
The Economic System in Islam is part of a complete set of codes for the whole life.
Author notes that, with this view kept in mind always, it should be examined and analyzed.
It is not possible to isolate the Economic system from other parts of Islam because they are interconnected.

Used from paper of Abdul Husain Muhammad

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