Transcript Document
Islam & Socialism
IBM 11013
Introduction to Islamic Economics
Lecturer in charge
RA. Sarjoon
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Islam and Socialism
There
are so many problems facing by the
human being, economic is the one of them
and its significance cannot be denied in the
life of human being.
In the very beginning it was said that
economic problem is due to the scarcity.
1 economics of production
2 economics of distribution
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Islam and Socialism
Economics & Its Problems
What is economics?
“To utilize the limited resources in a way that maximum needs and wants
are met to ensure the well being of all members of the human society.”
The four basic economic problems:
1.
2.
3.
4.
Determination of Priorities
Allocation of Resources (Land, Labor, Capital, Entrepreneur)
Distribution of Income
Development
We will compare how Capitalism, Socialism and Islamic Economic system
addresses to these problems.
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Islam and Socialism
The pattern of economic institutions and organization in various countries is not the
same.
There is difference in relations of different groups of people and also, the strategies
to solve basic economic problems of the society are not the same.
These problems do not have only one solution. Alternative ways or alternative
systems exist in this regard.
If we look around the world from the point of view of an economist, we find that
although in every country economic conditions are different, yet they can be grouped
into a few broad categories or economic systems under which they solve their basic
problems of 'how’,’ what' and 'for whom’. Every economic system has some unusual
features, which distinguish it from others. These systems have been names as:
1)Capitalism
2)Socialism
3)Islamic Economic System
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Islam and Socialism
Socialism
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Socialism does not have a common
meaning. Different people include different
things in it. However the basic thinking is the
same, i.e.;
the government should have control over
economic activities, and private ownership of
land and capital abolished or put under tight
restrictions.
Islam and Socialism
What is Socialism?
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Socialism: A political and economic theory
that a country’s land, transport, natural
resources and chief industries should be
owned and control by the whole community
or by the state, and the wealth should be
equally distributed.
Islam and Socialism
Socialism
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Thus we can say that,
socialism is a system under which all capital
and natural resources are owned by the state
and all production is certainly planed as if the
whole economy is one big firm.
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Socialism Definition
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Dickinson defines it as,
Socialism is an economic organization of society, in
which the material means of production are owned
by the whole community and operated by the
organs, representative of, and responsible to the
community, according to a general plan; all members
of the community are being entitle to have equal
benefit from the resulting production.
Islam and Socialism
Socialism Terminology
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The term Socialism or Socialist can refer to
several related things:
An ideology or a group of ideologies,
a state that exists or has existed.
In Marxist theory:
the society that would succeed capitalism,
and then develop further into communism.
Islam and Socialism
Historical Background
Industrial Revolutions
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Threw thousands of handcraft workers into the labor Market
Crowed slum were established around the factories
Crimes, disease, hunger and misery were a way of life
Industrial accident and no compensation for families
No Rights of wage earner
Union were illegal
Islam and Socialism
Types of Socialism
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Utopian Socialism
State Socialism
Christian Socialism
Anarchism
Marxian Socialism
Communism
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Social Justice
Better allocation of resources
Improving productive efficiency
Social security and welfare
Economic stability
Islam and Socialism
Lake
of incentive or encouragement
Maladjustment
Profit
and loss
Private
property
Bureaucracy
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Not
in the demand and supply
monopoly of
successful in business
Islam and Socialism
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Misallocation of resources
Lake of consumer sovereignty
Loss of economic freedom
Economic equality not achieved
Concentration of power in the state
Islam and Socialism
Islamic Economics System
According to Quaranic verses, every thing in this
universe belongs to God almighty.
"Whatever is in the heavens and whatever is in the
earth belongs to Allah." [Al-Baqarah, 2:284].
He is the real owner of everything
"And Allah’s is the kingdom
of the heavens and the earth, and Allah has power
over every things." [Al- Imran, 3:189].
هو الذي خلق لكم ما في األرض جميعا
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Islam and Socialism
Islamic Economics System
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Halal & Haram
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Justice
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Equality
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Cooperation
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Brotherhood
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Benevolence
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Solution for Economics Problems
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Basic rules of Islam
Naturally
Concentration on ethics and morality
The role of government where required
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Solution for Economics Problems
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Achieving wealth
Rights of ownership
How to use that Rights?
utilization of capital
Distribution of wealth [كفالت عامه
Islam and Socialism
Teaching of the Qur,an Regarding
Economics
Wright of private ownership
التأكلوا أموالكم بينكم بالباطل(النساء)
التدخلوابيوتا غيربيوتكم (......النور)
No concept of equality in economics
أهم يقسمون رحمة ربك نحن قسمنا بينهم معيشتهم Allah says
في الحياة الدنيا ورفعنا بعضهم فوق بعض(..الزخرف)
No priesthood
وكلوا مما رزقكم هللا(البقرة) Allah says
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Teaching of the Qur,an Regarding
Economics
Distinction between legal and illegal
التأكلوا اموالكم بينكم بالباطل
Exaggeration is not allowed
والتسرفوا انه اليحب المسرفين
How to spend?
The concept of zakat
Spoils of war
The concept of Islam regarding inheritance
The concept of public property
الماء والكالء والنا,الناس شركاء في ثالث
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Islam and Socialism
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Islam and Socialism