What is Capitalism? |
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Abu_Senju
Newbie Islam Joined: 13 August 2020 Location: Nigeria Status: Offline Points: 18 |
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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
Newbie Islam Joined: 06 October 2020 Location: Pakistan Status: Offline Points: 30 |
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We hat is capitalism? Earn but don't pay taxes.
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little_lion
Starter. muslim Joined: 15 October 2020 Location: my house Status: Offline Points: 3 |
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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
Starter. Judaism Joined: 07 July 2021 Location: United States Status: Offline Points: 5 |
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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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