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Your Best Economic System - BilalZia - 07-29-2009 What is the best economic system! This is about honesty This is about lifestyle This is about religion This is about equality This is about emotions This is about practicality This is about GOD In a nutshell this is about everything. about you and me We are suppose to propose the best economic system through our discussion that should be evaluated and structured on the basis of above criteria. The benchmarks already developed in this regard are Market Economy Socialism Islamic System (as perceived and refined by Hazrat Umer) Resource Based System If you have got a new system, you can propose that as well - awaisaftab - 07-29-2009 Mr. Bilal, In my view this topic should be posted on Economics Forum. Anyhow, let us come towards our main point. In my opinion economic system of Islam is the best economic system. Islam is complete code of life it gives a social system as well as a great economic system. Other economic systems are only consisted on material factors but itâs economic system of Islam that is also consisted on ethical factors such as Benevolence, Aisar, Rawadary, Brotherhood, and Dignity of Labour. Through the institution of Zakat and law of inheritance Islam makes possible the flow of money from the rich to the poor. Hence Islam makes possible equal distribution of wealth and income. Hazrat Ali Said âGhurbat Insan ko Kufar Se Mila Deti Haâ. This is very true observation. In my view only a social revolution that will also have a model for economic revolution can change our society. Economic system of islam makes possible the circulation of money because SHIRAKT or partnership is its main feature. Economic system of Islam makes possible the equal distribution of wealth just see the economic activities that are carried only on the occasion of Eid ul Azha. Billions of Rupees move from cities towards villages because people buy millions of animal. Skins of animals give boom to lather industry. Millions of poor people who cannot buy meat receive huge quantities of meat. Thousands of charitable institutes receive skins of animals and perform charity and other social works. This is only a small example of eco benefits of Economic system of islam. |