DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - The problem with Socialism and Big Government

**DumbNelmcrece** · 06-26-2012, 10:11 PM

The idea that the corporation has a legal personality that operates indefinetly with limited liability is a Capitalist legal invention. Most traditional scholars see this as haram. Islam never had corporations..in any future Islamic economy the development of such entities by law would be highly proscribed.

private corporations never were "highly regulated" simply because the state never had the power and reach to tightly regulate businesses.
I'd like to see proponents of strict regulation of business to bring precedence for their ideas.

06-26-2012, 10:11 PM	#12
DumbNelmcrece Join Date Oct 2005 Posts 459 Senior Member	The idea that the corporation has a legal personality that operates indefinetly with limited liability is a Capitalist legal invention. Most traditional scholars see this as haram. Islam never had corporations..in any future Islamic economy the development of such entities by law would be highly proscribed. private corporations never were "highly regulated" simply because the state never had the power and reach to tightly regulate businesses. I'd like to see proponents of strict regulation of business to bring precedence for their ideas.
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