The Islamic economic model

[abdullah233]

I’m curious as to your thoughts on this.
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.
There’s 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 it’s the fear of punishment and the moral obligation to donate that runs the Islamic economic model. What keeps the economy afloat and successful is the belief in the deen. Interest and corrupt banking don’t exist in this model. People tend to think Islam promotes a socialist economy but its actually the opposite as socialism and Marxism violently oppose religion in every way. In order for this to work 95 percent of the population must be Muslim so this model works when following the word of Allah (swt).
This model is not properly used in the world today as nations like Saudi and Iran are corrupt. It worked well from The eighth century to the twelfth century and served as a basis for Adam Smith’s wealth of Nations and modern capitalism in general.
Let’s, discuss

 

[Ayubi]

We should bring back the Jizyah and properly implement Zakat in the state.

 

[abdullah233]

We should bring back the Jizyah and properly implement Zakat in the state.

People use the jizyah against Islam it’s enforced so those who are not believers pay charity

 

[Marcus]

It obviously is. ibn khaldun wrote about capitalism in the 14th century, 400 years before Adam Smith.

 

[Ayubi]

People use the jizyah against Islam it’s enforced so those who are not believers pay charity

I know the Anti Islamic polemics lie about the Jizyah. Jizyah is just like how Muslims pay Zakat! We pay taxes in the West but the bigots don’t have a problem with that. Also certain groups don’t have to pay it like women and children.

 

[Basra]

I’m curious as to your thoughts on this.
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.
There’s 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 it’s the fear of punishment and the moral obligation to donate that runs the Islamic economic model. What keeps the economy afloat and successful is the belief in the deen. Interest and corrupt banking don’t exist in this model. People tend to think Islam promotes a socialist economy but its actually the opposite as socialism and Marxism violently oppose religion in every way. In order for this to work 95 percent of the population must be Muslim so this model works when following the word of Allah (swt).
This model is not properly used in the world today as nations like Saudi and Iran are corrupt. It worked well from The eighth century to the twelfth century and served as a basis for Adam Smith’s wealth of Nations and modern capitalism in general.
Let’s, discuss

Being generous is not an economic topic though. Islam economic relies on free trade, which is a minor component of modern Capitalism. Major Modern Capitalism component is corporation & financial institutions which runs counter balance to Islam, which prohibits Ribba for the banks & unfair, exploitative high profits from corporations.

Ironically though, the American conservatives who hate tax from government would have made great Muslim economist.

 

[Sleepy Hollow]

Ibn Khaldun's thoughts on tax is the Nobel prize winning Laffer Curve concept. Arthur Laffer just put the concept to paper. Taxes in non-Islamic models end up strangling the most vulnerable people while simultaneously finding creative ways to deny them services. It may not start like that but its how it ends up because the rich lack the imposing morals that religion instills in a purely secular capitalist society.

One thing I will say is that I do not consider modern day "Islamic" banks to be viable in a real Islamic economic model. These banks still play around with interest but in creative ways so sometimes you get ripped off even more.

 

[Basra]

.........Wordddddd

 

[abdullah233]

Being generous is not an economic topic though. Islam economic relies on free trade, which is a minor component of modern Capitalism. Major Modern Capitalism component is corporation & financial institutions which runs counter balance to Islam, which prohibits Ribba for the banks & unfair, exploitative high profits from corporations.

Ironically though, the American conservatives who hate tax from government would have made great Muslim economist.

Secular capitalism is a completely different concept from muslim capitalism due to culture clash. The generosity part of my analysis is because it’s a big issue in capitalism how to get the filthy rich to divert their funds because if you tax them too much they will leave your country and they rarely are generous because of their own accord Islam answers the question with moral obligations to help the needy effectively eliminating a greedy upper-class and creating a generous upper class due to fear of Allah(swt). I don’t think modern republicans would be good Muslim economists because they in general care only for the rich.
Nice analysis edo Basra

 

[Basra]

Secular capitalism is a completely different concept from muslim capitalism due to culture clash. The generosity part of my analysis is because it’s a big issue in capitalism how to get the filthy rich to divert their funds because if you tax them too much they will leave your country and they rarely are generous because of their own accord Islam answers the question with moral obligations to help the needy effectively eliminating a greedy upper-class and creating a generous upper class due to fear of Allah(swt). I don’t think modern republicans would be good Muslim economists because they in general care only for the rich.
Nice analysis edo Basra

Thanks hon.


Actually if i could go further. Islam Capitalism is the best. Of course, that goes without saying. Anything Islamic is the best.

But your point of Generosity directly correlates to success. The East African business woman Amina, who now is a multi billionaire, started her wealth by going counter Secular capitalistic way. She openly said- she was not selling anything from her shop. But then she did a miraculous thing, which, she let her heart do the thinking. She slashed everything so affordable before you know it, she said--there was a long line until the streets of customers.

So basically Islam Economy means, the more you are generous and return back to community, the richer you become. (and ironically, the more u create demand & supply chain, capitalism at its finest- which proved by the long line of customers & which means Ka ching)

Follow the story of Sahaba Uthman ibn Afan, my favorite Sahaba, His suave Nobility & Generosity was legendary. Of course, because of that, he became the richest Sahaba.

 

[abdullah233]

Thanks hon.


Actually if i could go further. Islam Capitalism is the best. Of course, that goes without saying. Anything Islamic is the best.

But your point of Generosity directly correlates to success. The East African business woman Amina, who now is a multi billionaire, started her wealth by going counter Secular capitalistic way. She openly said- she was not selling anything from her shop. But then she did a miraculous thing, which, she let her heart do the thinking. She slashed everything so affordable before you know it, she said--there was a long line until the streets of customers.

So basically Islam Economy means, the more you are generous and return back to community, the richer you become. (and ironically, the more u create demand & supply chain which proved by the long line of customers & which means Ka ching)

Follow the story of Sahaba Uthman ibn Afan, my favorite Sahaba, His suave Nobility & Generosity was legendary. Of course, because of that, he became the richest Sahaba.

Also in honors history in school we read the wealth of nations but it’s a straight rip off of ibn khaldun’s work his work is the basis of many western works yet they only teach about one.

 

[المهندس]

View attachment 128339.........Word

 

[Basra]

View attachment 128341

Ka ching

 

[Basra]

Also in honors history in school we read the wealth of nations but it’s a straight rip off of ibn khaldun’s work his work is the basis of many western works yet they only teach about one.

I can see that. The beauty & disaster sadness of the Islamic introduction to the world is-- it introduced a lot of modern concepts to the world without getting credit. The Khalduns & Saluddins & The Omar-iins discovered many things that they are not credited for. But its ok. I think the pristine of Quran is the benefit of it.