Socialism, Capitalism and Islamic Economics
Economies have persisted throughout history, being state-and citizen-centered.
Citizen-centered economies either completely reject state intervention in the market, like
liberalists or partially reject it, like Physiocrats… In these systems, the perception of private
property advances to international capital and property through profit, accumulation, interest,
annuity and exploitation. As with today's giant corporations... In state-centered economies, the
individual's right to property is narrowed; the market is completely monopolized by the state.
All production resources are left in the hands of the state. In this sense, the perception of
Economics has gone from individual to state, from state to individual as a pendulum
throughout history, and has journeyed towards the ideal economic system.
When the state is based, there is an environment where wealth becomes a monopoly of
power, where the desire for property in human nature is not satisfied, where feelings such as
spending, sharing and generosity based on private property cannot express themselves as they
wish. However, a mass of unhappy people and a mass of soulless people emerge because the
commercial intelligence and potential abilities found in humans are also locked in. On the
other hand, in citizen-based economies dominated by liberalist and capitalist logic, the market
becomes a field. People with potential talent open up their capacity for commercial
intelligence, productivity and acquisition in unlimited ways. However, because these systems
are not a sacred order based on rights and legitimacy, the rich become extremely rich and the
poor become extremely poor due to their “ acquisition-oriented, focused on earning and
protecting what you earn ” structure. With the interest and banking system, a capitalists can
earn 1,000,000 money of interest “per day” without making any production, while on the
other hand, people who work underground and in mines under the influence of lethal gases at
minimum wage earn 2,000 money “per month”.
The world economy, in this sense, came in the throes of the individualistic aspect of
the liberalist and capitalist economy until the First World War. As the world economy moved
towards the Great Depression of 1929, it was also awash with socialist economic theories and
practices that began in Germany and spread secretly in Russia before the First World War. In
1917, the Tsarist was shaken by the Bolshevik Revolution. It was forced to withdraw from the
first World War and was demolished. Under Lenin's leadership, the socialist and later
communist regime began to rule in Russia. While socialism was respectful and permissive to
religion, the communist regime saw religion as an opium that poisoned and numbed people.
He therefore banned all religious values throughout the country. As German socialism grew
stronger and spread within itself, the regime in Russia changed and the new system began to
feel itself under all its pressure. In this turmoil, the Ottoman State was in search of a cure for
the resurrection and the confusion of ideas caused by losing the war. Meanwhile, Said Nursi is
a member of Darü'l-Hikmeti'l-Islamiye in Istanbul. Both the members of Darü'l-Hikmet and
the people who follow the world agenda from newspapers ask him various questions about
economic problems and world politics. He answers as follows:
Q -"What is the revolution of this world?"
A - " It is the struggle of labour and
capital." Q - " Is there no way to reconcile
the two?"
https://www.coursehero.com/file/65167842/Development-Economics-Socialism-Capitalism-and-Islamic-Economidocx/
, This study source was downloaded by 100000856941565 from CourseHero.com on 11-23-2022 02:06:56 GMT -06:00
https://www.coursehero.com/file/65167842/Development-Economics-Socialism-Capitalism-and-Islamic-Economidocx/
Economies have persisted throughout history, being state-and citizen-centered.
Citizen-centered economies either completely reject state intervention in the market, like
liberalists or partially reject it, like Physiocrats… In these systems, the perception of private
property advances to international capital and property through profit, accumulation, interest,
annuity and exploitation. As with today's giant corporations... In state-centered economies, the
individual's right to property is narrowed; the market is completely monopolized by the state.
All production resources are left in the hands of the state. In this sense, the perception of
Economics has gone from individual to state, from state to individual as a pendulum
throughout history, and has journeyed towards the ideal economic system.
When the state is based, there is an environment where wealth becomes a monopoly of
power, where the desire for property in human nature is not satisfied, where feelings such as
spending, sharing and generosity based on private property cannot express themselves as they
wish. However, a mass of unhappy people and a mass of soulless people emerge because the
commercial intelligence and potential abilities found in humans are also locked in. On the
other hand, in citizen-based economies dominated by liberalist and capitalist logic, the market
becomes a field. People with potential talent open up their capacity for commercial
intelligence, productivity and acquisition in unlimited ways. However, because these systems
are not a sacred order based on rights and legitimacy, the rich become extremely rich and the
poor become extremely poor due to their “ acquisition-oriented, focused on earning and
protecting what you earn ” structure. With the interest and banking system, a capitalists can
earn 1,000,000 money of interest “per day” without making any production, while on the
other hand, people who work underground and in mines under the influence of lethal gases at
minimum wage earn 2,000 money “per month”.
The world economy, in this sense, came in the throes of the individualistic aspect of
the liberalist and capitalist economy until the First World War. As the world economy moved
towards the Great Depression of 1929, it was also awash with socialist economic theories and
practices that began in Germany and spread secretly in Russia before the First World War. In
1917, the Tsarist was shaken by the Bolshevik Revolution. It was forced to withdraw from the
first World War and was demolished. Under Lenin's leadership, the socialist and later
communist regime began to rule in Russia. While socialism was respectful and permissive to
religion, the communist regime saw religion as an opium that poisoned and numbed people.
He therefore banned all religious values throughout the country. As German socialism grew
stronger and spread within itself, the regime in Russia changed and the new system began to
feel itself under all its pressure. In this turmoil, the Ottoman State was in search of a cure for
the resurrection and the confusion of ideas caused by losing the war. Meanwhile, Said Nursi is
a member of Darü'l-Hikmeti'l-Islamiye in Istanbul. Both the members of Darü'l-Hikmet and
the people who follow the world agenda from newspapers ask him various questions about
economic problems and world politics. He answers as follows:
Q -"What is the revolution of this world?"
A - " It is the struggle of labour and
capital." Q - " Is there no way to reconcile
the two?"
https://www.coursehero.com/file/65167842/Development-Economics-Socialism-Capitalism-and-Islamic-Economidocx/
, This study source was downloaded by 100000856941565 from CourseHero.com on 11-23-2022 02:06:56 GMT -06:00
https://www.coursehero.com/file/65167842/Development-Economics-Socialism-Capitalism-and-Islamic-Economidocx/
