❖ Foundations of Capitalism and the Islamic Alternative ❖
✍ By: Muhammad Yunus Qadri
Following the fall of the Roman Empire, feudalism emerged in Europe with the full support of the Church. During this era, moral and societal values were determined by religious principles, and the accumulation of worldly power and wealth was viewed negatively. Under Christian influence, eternal success was always prioritized over worldly progress. Although the Church adopted Roman law, Christian values appeared only marginally within these legal frameworks.
Over time, the Church itself succumbed to moral corruption, and the Pope of Rome became the largest landowner in Western Europe, resulting in a gradual decline in public trust.
From the 15th century onward, Protestant movements began to provide a religious justification for materialism, promoting individualism. Kings were granted absolute rule under the doctrine of the "Divine Right of Kings", legitimizing greed and envy as socially acceptable. The Protestant ideology embraced monopoly and wealth concentration as part of a divine order, replacing charity with miserliness and saving.
In its early stages, capitalism was characterized by greed and envy in commercial and industrial centers. States seized agricultural lands and looted resources from other regions. European powers committed grave injustices and bloodshed across Africa, the Americas, Australia, and Asia.
Gradually, capitalism enveloped entire nations, leading to the rise of national welfare states. Self-interest, envy, and greed became dominant social values, promoted through democratic systems.
The third phase of capitalism involves its attempt to dominate all of humanity. Although this objective has yet to be fully achieved, it remains the ultimate aim of global capitalism.
Capitalism is built on the principles of accumulation (greed) and competition (envy). Every individual seeks to accumulate wealth and surpass others. In this system, the value of goods is determined solely by price, and price is set through power struggles within the market.
Capitalist economics assumes that man is naturally selfish and pleasure-seeking. Economic theory propagates the belief that individual gratification leads to collective benefit, a concept referred to as "rationality bounded by desire". Prices and production costs are determined in the market through forces of power, primarily dominated by large corporations.
In capitalism, banks and financial institutions possess the authority to create money. The banking system integrates into the economy through interest-based operations, and the value of currency is determined by the strength of governments and financial bodies.
Within capitalist societies, every individual lives under a desire-driven rationality grounded in self-interest, greed, and envy. Personal development is measured solely by adherence to capitalist norms, while collective values are ignored. Even welfare states serve only to preserve and enhance capitalist institutions.
Capitalism depends on production and monopoly, but when production exceeds demand, it leads to crises. Major contradictions include:
Capitalism is contrary to human nature, which seeks love, selflessness, and generosity—not selfishness and greed.
The Islamic system is grounded in love, sacrifice, and asceticism, whereas capitalism glorifies greed and envy. Islamic economics is based on ḥalāl income and a just financial structure, with no room for hoarding or miserliness.
① Promotion of Ḥalāl Livelihoods:
Build an Islamic economic foundation through mosques, promote ḥalāl employment, and avoid interest-based institutions.
② Role of Islamic Labor Unions:
Prevent exploitation by integrating workers into company management and enforcing adherence to Islamic principles.
③ Establishment of an Islamic State:
An Islamic government must reject privatization and free-market policies, and shield the national economy from international exploitation.
Capitalism alienates man from his innate qualities, pushing him into a pit of self-interest and greed. The objective of an Islamic revolutionary strategy is to eradicate this system and establish a society based on love, sacrifice, and justice.
✍ By: Muhammad Yunus Qadri
◈ From Feudalism to Capitalism in Europe
Following the fall of the Roman Empire, feudalism emerged in Europe with the full support of the Church. During this era, moral and societal values were determined by religious principles, and the accumulation of worldly power and wealth was viewed negatively. Under Christian influence, eternal success was always prioritized over worldly progress. Although the Church adopted Roman law, Christian values appeared only marginally within these legal frameworks.
Over time, the Church itself succumbed to moral corruption, and the Pope of Rome became the largest landowner in Western Europe, resulting in a gradual decline in public trust.
◈ The Protestant Movement and the Rise of Materialism
From the 15th century onward, Protestant movements began to provide a religious justification for materialism, promoting individualism. Kings were granted absolute rule under the doctrine of the "Divine Right of Kings", legitimizing greed and envy as socially acceptable. The Protestant ideology embraced monopoly and wealth concentration as part of a divine order, replacing charity with miserliness and saving.
◈ The Evolution of Capitalism
➊ First Phase: Plunder and Exploitation
In its early stages, capitalism was characterized by greed and envy in commercial and industrial centers. States seized agricultural lands and looted resources from other regions. European powers committed grave injustices and bloodshed across Africa, the Americas, Australia, and Asia.
➋ Second Phase: Nation-States and Welfare Systems
Gradually, capitalism enveloped entire nations, leading to the rise of national welfare states. Self-interest, envy, and greed became dominant social values, promoted through democratic systems.
➌ Third Phase: March Toward a Global Order
The third phase of capitalism involves its attempt to dominate all of humanity. Although this objective has yet to be fully achieved, it remains the ultimate aim of global capitalism.
◈ The Foundations of the Capitalist System
Capitalism is built on the principles of accumulation (greed) and competition (envy). Every individual seeks to accumulate wealth and surpass others. In this system, the value of goods is determined solely by price, and price is set through power struggles within the market.
◈ Economic Theory and Capitalist Rationality
Capitalist economics assumes that man is naturally selfish and pleasure-seeking. Economic theory propagates the belief that individual gratification leads to collective benefit, a concept referred to as "rationality bounded by desire". Prices and production costs are determined in the market through forces of power, primarily dominated by large corporations.
◈ Money and Capital Markets
In capitalism, banks and financial institutions possess the authority to create money. The banking system integrates into the economy through interest-based operations, and the value of currency is determined by the strength of governments and financial bodies.
◈ Social Effects of Capitalism
Within capitalist societies, every individual lives under a desire-driven rationality grounded in self-interest, greed, and envy. Personal development is measured solely by adherence to capitalist norms, while collective values are ignored. Even welfare states serve only to preserve and enhance capitalist institutions.
◈ Contradictions Within Capitalism
Capitalism depends on production and monopoly, but when production exceeds demand, it leads to crises. Major contradictions include:
- Unemployment
- Unjust distribution of resources
- Global wars
Capitalism is contrary to human nature, which seeks love, selflessness, and generosity—not selfishness and greed.
◈ The Islamic Strategy Against Capitalism
Foundations of Islamic Values
The Islamic system is grounded in love, sacrifice, and asceticism, whereas capitalism glorifies greed and envy. Islamic economics is based on ḥalāl income and a just financial structure, with no room for hoarding or miserliness.
◈ A Three-Tiered Strategic Framework
① Promotion of Ḥalāl Livelihoods:
Build an Islamic economic foundation through mosques, promote ḥalāl employment, and avoid interest-based institutions.
② Role of Islamic Labor Unions:
Prevent exploitation by integrating workers into company management and enforcing adherence to Islamic principles.
③ Establishment of an Islamic State:
An Islamic government must reject privatization and free-market policies, and shield the national economy from international exploitation.
❖ Conclusion ❖
Capitalism alienates man from his innate qualities, pushing him into a pit of self-interest and greed. The objective of an Islamic revolutionary strategy is to eradicate this system and establish a society based on love, sacrifice, and justice.
