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What is Capitalism?

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Abu_Senju View Drop Down
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    Posted: 15 September 2020 at 4:06am
Generally, capitalism is understood by economist theorists as an economic system, emphasising ownership, private property and a free competitive market with a minimal role for the state. However, these elements have existed in most systems of governance.

Capitalism is a word used so often that one would think everyone agreed on what it means. But that is not the case.

One might expect to find a definition from two economists, who come to mind as those who first explained the nature of capitalism, Adam Smith and Karl Marx. But Smith never used the term at all. And in all of Marx's books, there are only a handful of references to capitalism.

Generally, capitalism is understood by economist theorists as an economic system, emphasising ownership, private property and a free competitive market with a minimal role for the state. However, these elements have existed in most systems of governance.

Zafer Iqbal, a master of Islamic Studies explored this in an article he wrote on the topic. He established that Capitalism is not just an economic system but also a complete system of life.

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Muhammad Saad View Drop Down
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We hat is capitalism? Earn but don't pay taxes.
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little_lion View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote little_lion Quote  Post ReplyReply Direct Link To This Post Posted: 15 October 2020 at 4:23pm
Originally posted by Abu_Senju Abu_Senju wrote:

Generally, capitalism is understood by economist theorists as an economic system, emphasising ownership, private property and a free competitive market with a minimal role for the state. However, these elements have existed in most systems of governance.

Capitalism is a word used so often that one would think everyone agreed on what it means. But that is not the case.

One might expect to find a definition from two economists, who come to mind as those who first explained the nature of capitalism, Adam Smith and Karl Marx. But Smith never used the term at all. And in all of Marx's books, there are only a handful of references to capitalism.

Generally, capitalism is understood by economist theorists as an economic system, emphasising ownership, private property and a free competitive market with a minimal role for the state. However, these elements have existed in most systems of governance.

Zafer Iqbal, a master of Islamic Studies explored this in an article he wrote on the topic. He established that Capitalism is not just an economic system but also a complete system of life.


Hello abu_senju my fellow man if you could can you tell me about one book about muhammad view on economics or the religion sages about economics my man my partner in religion ?
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Muhammad Nabeel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Muhammad Nabeel Quote  Post ReplyReply Direct Link To This Post Posted: 07 July 2021 at 1:17am
A simple defination of capitalism: Businesses earn and pool taxes with the government. While the government has that money, it invests in infrastrue and returns the money through the tax returns at the end of the year. Communism is when the government earns and builds the infrastructure and that is what annoys us businessmen as it is unfair growth.
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