These Are the Very Striking Differences Between the Islamic Economic System and Capitalism and Communism

REPUBLIKA.CO.ID, JAKARTA – The Islamic economic system emerges as a moderate solution between two extremes: capitalism that worships boundless freedom and communism that abolishes private rights. Quoting the thoughts of Afzalurrahman in his book Prophet Muhammad as a Merchant, Islam blends the best qualities and discards the evils of both systems, allowing the Islamic economy to create balance and be free from the shortcomings of capitalism and communism. Afzalurrahman in his book explains that the Islamic economic system is fundamentally different from capitalism and communism. However, in some aspects, it serves as a compromise between the two extremes and stands between them. The Islamic economic system possesses the good qualities of capitalism and communism but is free from their bad qualities. In the Islamic economic system, relations between individuals are so organised that they can develop a spirit of cooperation and mutual help as a replacement for feelings of enmity and competition. The Islamic economic system not only provides facilities that enable the achievement of goals in economic and social fields but also offers moral education and training. Thus, helping fellow workers to obtain what they desire, or at least not hindering their struggle for life, is felt as an obligation. Islam views economic issues not from the capitalist perspective, which grants unlimited freedom and property rights to every individual and supports the exploitation of one person by another.