PAPER
“COMPARISON WITH ISLAMIC ECONOMIC SYSTEM AND
SOCIALIST CAPITALIST ECONOMIC SYSTEM”
2.1 Capitalism Economic System
The capitalist economic system is an economic system that gives freedom fullto
everyone to carry out economic activities such as producing goods, selling goods, distributing
goods and so on. Insystem this, the government can take part in ensuring the smoothness and
sustainability ongoing of economic activities, but it is also possible for the government not to
interfere in the economy.
In a capitalist economy, every citizen can manage his own destiny according to his
ability. Everyone is free to compete in business for maximum profit. Everyone is free to
compete to win free competition in various ways. In various theoretical explanations,
colonialism, imperialism, capitalism, and globalization are related phenomena.
Imperialism means politics to rule (by coercion) the whole world for one's own sake
which is formed as an empire. Mastering here does not mean seizing with the power of
weapons, but it can be carried out with economic, cultural,strength religious and ideological,
as long as it is by force. In another definition, imperialism is said to be an effort to forcefully
expand the territory of one country by carrying out conquests territorial which are the basis for
establishing political and economic domination over other
countries that are not colonies.
Colonialism is the development of a state's power over territory and people beyond its
borders, often seeking economic domination of resources, the territory's labor, and markets.
The definition of colonialism states that colonialism is a practice of domination that involves
the subjugation of one person over another. Like imperialism, colonialism also involves
political and economic control over a dependent territory. Colonialism is very difficult to
distinguish from imperialism, the only difference can only be seen from the etymology of the
two concepts. The term colony comes from the Latin word colonus, which means 'farmer'.
This reminds us of the practice of colonialism which usually involves the process of moving
the population to one area, where they will live there permanently and retain affiliation
political with their country of origin. On the other hand, imperialism comes from the Latin
word imperium, which means 'to rule'.
Thus, imperialism is more of a way how one country exercises power over another,
whether through colony formation, prosperity, or indirect control mechanisms. Meanwhile,
capitalism generally refers to an economic system which includes or most of the means of
production are privately and operated for profit. Moreover, in this system, investment,
distribution, income, production, and pricing of goods and services are determined through the
operation of a market economy.
2 Paradigm of Capitalism
“COMPARISON WITH ISLAMIC ECONOMIC SYSTEM AND
SOCIALIST CAPITALIST ECONOMIC SYSTEM”
2.1 Capitalism Economic System
The capitalist economic system is an economic system that gives freedom fullto
everyone to carry out economic activities such as producing goods, selling goods, distributing
goods and so on. Insystem this, the government can take part in ensuring the smoothness and
sustainability ongoing of economic activities, but it is also possible for the government not to
interfere in the economy.
In a capitalist economy, every citizen can manage his own destiny according to his
ability. Everyone is free to compete in business for maximum profit. Everyone is free to
compete to win free competition in various ways. In various theoretical explanations,
colonialism, imperialism, capitalism, and globalization are related phenomena.
Imperialism means politics to rule (by coercion) the whole world for one's own sake
which is formed as an empire. Mastering here does not mean seizing with the power of
weapons, but it can be carried out with economic, cultural,strength religious and ideological,
as long as it is by force. In another definition, imperialism is said to be an effort to forcefully
expand the territory of one country by carrying out conquests territorial which are the basis for
establishing political and economic domination over other
countries that are not colonies.
Colonialism is the development of a state's power over territory and people beyond its
borders, often seeking economic domination of resources, the territory's labor, and markets.
The definition of colonialism states that colonialism is a practice of domination that involves
the subjugation of one person over another. Like imperialism, colonialism also involves
political and economic control over a dependent territory. Colonialism is very difficult to
distinguish from imperialism, the only difference can only be seen from the etymology of the
two concepts. The term colony comes from the Latin word colonus, which means 'farmer'.
This reminds us of the practice of colonialism which usually involves the process of moving
the population to one area, where they will live there permanently and retain affiliation
political with their country of origin. On the other hand, imperialism comes from the Latin
word imperium, which means 'to rule'.
Thus, imperialism is more of a way how one country exercises power over another,
whether through colony formation, prosperity, or indirect control mechanisms. Meanwhile,
capitalism generally refers to an economic system which includes or most of the means of
production are privately and operated for profit. Moreover, in this system, investment,
distribution, income, production, and pricing of goods and services are determined through the
operation of a market economy.
2 Paradigm of Capitalism
