General Discussion - What is Capitalism?

What is Capitalism?

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Category: General
Forum Name: General Discussion
Forum Description: General Discussion
URL: https://www.islamicity.org/forum/forum_posts.asp?TID=44681
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Topic: What is Capitalism?

Posted By: Abu_Senju
Subject: What is Capitalism?
Date 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.

Zafer Iqbal, a master of Islamic Studies explored this in https://www.islamiqate.com/99/what-is-capitalism" rel="nofollow - an article he wrote on the topic. He established that Capitalism is not just an economic system but also a complete system of life.

Replies:

Posted By: Muhammad Saad
Date Posted: 09 October 2020 at 5:02am

We hat is capitalism? Earn but don't pay taxes.

Posted By: little_lion
Date Posted: 15 October 2020 at 4:23pm

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.

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 ?

Posted By: Muhammad Nabeel
Date 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.