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**domeffire** · 09-04-2012, 04:22 AM

I have heard no such thing. From what I know free markets are promoted by Islam. The "price war" and "undercutting competitors" that you mention are negative words to describe exactly what happens in a free market (which is not a bad thing).

Bring your proof, I would be interested.

I cannot remember where I read it, it might be Imaam Malik's Muwwata, or Umar Vadillio's fatwa on paper money, or his book The End of Economics.

In the UK we have supermarkets, they have a unwritten agreement between themselves not to have a price war (the cake is big enough for all of them to profit nicely). Independents cannot compete with the supermarkets. So we have a oligopoly. Monopolies and oligopolies are not a free market, in fact they emerged in a unfree market through state help, they also use the national road system with the trucks without paying for the cost of maintenance of the roads..they get subsidies from the state. So people might think they are benefiting from having these supermarket chains (relatively cheap prices), but the High Street independents have closed and look like ghost towns...so there are socio-economic costs that will impact on the community in years to come. Less cohesion less community brotherhood/sisterhood.

09-04-2012, 04:22 AM	#4
domeffire Join Date Oct 2005 Posts 516 Senior Member	I have heard no such thing. From what I know free markets are promoted by Islam. The "price war" and "undercutting competitors" that you mention are negative words to describe exactly what happens in a free market (which is not a bad thing). Bring your proof, I would be interested. I cannot remember where I read it, it might be Imaam Malik's Muwwata, or Umar Vadillio's fatwa on paper money, or his book The End of Economics. In the UK we have supermarkets, they have a unwritten agreement between themselves not to have a price war (the cake is big enough for all of them to profit nicely). Independents cannot compete with the supermarkets. So we have a oligopoly. Monopolies and oligopolies are not a free market, in fact they emerged in a unfree market through state help, they also use the national road system with the trucks without paying for the cost of maintenance of the roads..they get subsidies from the state. So people might think they are benefiting from having these supermarket chains (relatively cheap prices), but the High Street independents have closed and look like ghost towns...so there are socio-economic costs that will impact on the community in years to come. Less cohesion less community brotherhood/sisterhood.
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