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Old 06-10-2012, 02:41 AM   #39
SoOW2LeA

Join Date
Oct 2005
Posts
520
Senior Member
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Capitalism is the private ownership of private property and the creation of goods and services for profit.

And has nothing to do with banks or banking.

Although, most capitalists use banks to fund their business.
Take away fractional reserve banking, central banks and you have a more halal economy, but it is still haraam. It is haraam because private property according to Capitalist Law is joint stock companies, corporate personality and limited liability...Islam has its own laws about these and they do not conform to Capitalism.

Capitalism is many things, it differs according to the person defining it. Fascism also allows private ownership of property and the creation of goods and services, most economies are mixed economies not purely capitalist. Some people argue the US is a fascist economy because of the Military Industrial Complex that President Eisenhower warned about in his last speech as President.
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