Is it a free market if their are clear rules and regulations.
Class struggle in Somalia? What is the relationship between rich and poor somalis?
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And BTW, for your information, most American workers don't make minimum wage. They make WAY more than minimum wage. Yet according to your logic, that should be impossible.
But Marxists will never let something as inconvenient as "facts" get in the way of a good tirade against the evils of the market economy. Go preach your bullshit to naive Starbucks customers. We Somalis know better than that
Is it a free market if their are clear rules and regulations.
Yes, of course it is. The term still applies
Although it wouldn't be an all-out anarcho-capitalist state with zero taxes (that's an extreme example), it's still a free market.
A free market is where their is none or very little goverment affect on the market. If you have to pay a percentage of your wealth each year to feed the needy and their is a cap on how much wealth u can accumulate how can this be seen as free market.
No, there are no caps on how much wealth you can accumulate. None. You could theoretically become a $500 billion man living in Australia.
And yes, some chunk of your money will go towards feeding the needy. That's the price we pay for civilization.
But "feeding the needy" is done through market mechanisms. It is still done through the market (see my other post) and although it's not 100% an anarchist system, it still comes under the definition of being capitalist
Im not taking about Australia im talking about Islam. The quran clearly states those who hoard wealth are promised hellfire so their is a cap on how much wealth you can have. Read my statement once more we are not talking about capitalism we are talking about wheather or not the islamic economic system is a free market.
Hoarding wealth means being miserly towards others and not using your wealth to benefit society, or not using it to loan to others
By definition, wealth cannot be hoarded. It's not like you're stuffing your money inside a giant hole in your backyard. Either you spend your money, or you save your money.
If you save your money, then the Bank or Credit Union is taking your cash and loaning it to someone who currently needs it. And that includes entrepreneurs who need capital to expand their businesses
So the money will circulate regardless.
There is no monetary cap in Islam, you can have as much wealth as you want but our religion encourages us to spend the money especially in good causes like Sadaqah,taking care of the orphans etc
Abu Dawood (1564) narrated from Umm Salamah (may Allaah be pleased with him) that the Prophet (peace and blessings of Allaah be upon him) said: βThat which reaches the level where zakaah is to be paid and its zakaah is paid, is not kanz (hoarded wealth).β Classed as hasan by al-Albaani in Saheeh Abi Dawood
"by definition money cant be hoarded" that's such a dumb statement
If I have a giant pile of $100 bills, and I leave it in my room, am I hurting society? Let's say I have a big pile of $80 billion sitting in my house.
What if I burned all of that cash? Is society now poorer? The exact opposite is true. Everyone's dollar bills are now worth slightly more.
Only someone who thinks money is actually valuable will consider this to be a dumb statement. THINK
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The actual Islamic Economic model is capitalist its the moral ethics of the faith that encourages donation and helping poor zakat and (jizayih so non-believer funds get redirected to the poor). Islam tackles the biggest flaw in capitalism how to get the rich to redirect their funds instead of hoarding the wealth. It does this by placing moral obligations upon the person to pay money to the poor because if you tax them too high they will leave the country.
Thereβs a interesting video on this flaw of capitalism on the school of life. The solution the west has for this is rewarding the rich for doing ethical things. In Islam itβs the fear of punishment and the moral obligation to donate that runs the Islamic economic model really interesting stuff!
May Allah guide you as he guided me back to Islam!Why did i even bring up islam when i dont believe in it. The point I was attempting to make was lets not be for laissez-faire capitalism when it goes against your religion and in my case because it does not help the average person.
They always come back when the vice doesn't fulfill them
Why did i even bring up islam when i dont believe in it
Stop redefining the concept of hoarding. In Islam, there's no problem with the accumulation of wealth or assets, as long as you pay your dues. Pay your taxes and give your Sadaqah
Don't confuse that with the standard Marxist approach of nationalizing everything
Some of the Sahaba were very rich. Liberals love to reinterpret Islam just to fit their Marxist agenda.
Whats your opinion on the nordic model?
They do that in order to confuse us. That's their approach
If you challenge the Marxists on their beliefs they'll be like "Oh don't you care about the poor? Don't you care about the disadvantaged?"
I do care about them. That's why I support giving them welfare. That's fundamentally very different than actual Marxism
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Pretty good model. Not entirely perfect, but it's some of the best systems we have in the world.
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