DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - How many useless arguments on SF are caused by semantic differences of terms?

**Jellowstrom** · 07-09-2012, 07:16 PM

Unfair or unislamic practices in Capitalism:

1) Cartelized money supply (you can only use the money they give you and supply) you are not free to choose your own currency. Supply of the currency is in the hands of private banks using fractional reserve lending, meaning this gives power to determene the value of the unit of currency to afew.

2) High taxation and many individual transactions are taxed, this means the state needs to keep track of all transactions, this is like Big Brother Surveillence and spying.

3) The State creates regulations purporting to protect consumers but in fact it is mostly controlling the market creating red tape and barriers to entry so other firms cannot enter the market and the few small firms remain dominant. Search on the Internet for barriers to entry and regulatory capture.

4) Accounting and Bookeeping in Capitalist societies relies on Kafir laws, these laws determene what a corporations is and how it operates and Islam prohibits many of these legal creations.

There are probably others, but for now these are the big ones, they create controlled markets, fraud, oligarchy, cartels and a power elite. It also contains the seeds of its own destruction as it creates lazy societies and people become slave like instead of being productive, it may take a long time but eventually the culture will collapse or it will become more fascistic to try and control people more.

Two laws are vital for any society to become better.

1) All Contracts between free individuals are fuly self disclosed and honoured by people who have agreed to it.

2) You harm no one nor do you encroach upon another.

These two laws become enhanced by individuals who live by the deen of Islam, have private property and live by all the other laws of Islam.

yes but it happens in any family

reg- capitalism has many definitions, I would agree also Muhammad PBUH was capitalist as he kept property (and traded with it).
The right to keep privat kapital/property and right to trade freely is core of capitalism in opposite to planned economies where people can not trade, only state trades and is owner of companies. The conditions of trade are most probably decisive how the capitalism is perceived if allowes riba, unfair practices, or it is more social oriented etc.
Anyway I dont know how loan system functions in islamic banks - would be intersting to know
w salam

07-09-2012, 07:16 PM	#28
Jellowstrom Join Date Oct 2005 Posts 564 Senior Member	Unfair or unislamic practices in Capitalism: 1) Cartelized money supply (you can only use the money they give you and supply) you are not free to choose your own currency. Supply of the currency is in the hands of private banks using fractional reserve lending, meaning this gives power to determene the value of the unit of currency to afew. 2) High taxation and many individual transactions are taxed, this means the state needs to keep track of all transactions, this is like Big Brother Surveillence and spying. 3) The State creates regulations purporting to protect consumers but in fact it is mostly controlling the market creating red tape and barriers to entry so other firms cannot enter the market and the few small firms remain dominant. Search on the Internet for barriers to entry and regulatory capture. 4) Accounting and Bookeeping in Capitalist societies relies on Kafir laws, these laws determene what a corporations is and how it operates and Islam prohibits many of these legal creations. There are probably others, but for now these are the big ones, they create controlled markets, fraud, oligarchy, cartels and a power elite. It also contains the seeds of its own destruction as it creates lazy societies and people become slave like instead of being productive, it may take a long time but eventually the culture will collapse or it will become more fascistic to try and control people more. Two laws are vital for any society to become better. 1) All Contracts between free individuals are fuly self disclosed and honoured by people who have agreed to it. 2) You harm no one nor do you encroach upon another. These two laws become enhanced by individuals who live by the deen of Islam, have private property and live by all the other laws of Islam. yes but it happens in any family reg- capitalism has many definitions, I would agree also Muhammad PBUH was capitalist as he kept property (and traded with it). The right to keep privat kapital/property and right to trade freely is core of capitalism in opposite to planned economies where people can not trade, only state trades and is owner of companies. The conditions of trade are most probably decisive how the capitalism is perceived if allowes riba, unfair practices, or it is more social oriented etc. Anyway I dont know how loan system functions in islamic banks - would be intersting to know w salam
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