DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - What is wrong with Capitalism? is Capitalism haram?

**appleiphoneees** · 06-09-2012, 02:20 AM

Capitalism as it operates and has operated in the US and Europe over the last 150 years has been what can be called Mercantalism and State Capitalism or now Crony Capitalism. This is where the government directs and controls much of the economic activities (trade, commerce, currency etc) of millions of individuals. Usually the government has strong links with 'private' corporations and helps them out with laws and even financial bail outs. This is not a free market where the government has a very minimal role. These private corporations benefit from their links with governments and together they rob, tax and control the rest of the population. Very little trade is halal, much of it is fixed and controlled by a few companies who have been allowed to dominate the markets through government legislation. Even the concept of private property and corporate identity or person hood (you can look these terms up with google) are not strictly Islamic. In Islamic law you cannot have a corporate person with limited liabilities, that exists beyong a human lifetime. Therefore Capitalism as it is is absolutely haraam.

to be fair to brother revert i don't think he means capitalism as we know it and how you've described. he means free trade etc for profit. contrasting this to "communism" he feels capitalism per se in his own definition isn't haram. granted.

however, true capitalism as we know it (based on the above definition) and communism are both one and the same.

06-09-2012, 02:20 AM	#34
appleiphoneees Join Date Oct 2005 Posts 541 Senior Member	Capitalism as it operates and has operated in the US and Europe over the last 150 years has been what can be called Mercantalism and State Capitalism or now Crony Capitalism. This is where the government directs and controls much of the economic activities (trade, commerce, currency etc) of millions of individuals. Usually the government has strong links with 'private' corporations and helps them out with laws and even financial bail outs. This is not a free market where the government has a very minimal role. These private corporations benefit from their links with governments and together they rob, tax and control the rest of the population. Very little trade is halal, much of it is fixed and controlled by a few companies who have been allowed to dominate the markets through government legislation. Even the concept of private property and corporate identity or person hood (you can look these terms up with google) are not strictly Islamic. In Islamic law you cannot have a corporate person with limited liabilities, that exists beyong a human lifetime. Therefore Capitalism as it is is absolutely haraam. to be fair to brother revert i don't think he means capitalism as we know it and how you've described. he means free trade etc for profit. contrasting this to "communism" he feels capitalism per se in his own definition isn't haram. granted. however, true capitalism as we know it (based on the above definition) and communism are both one and the same.
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