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How is the islamic economy superiority proved in practice?
Date 25 June 2022 & Clock 15:19
Question 39:It is normally said that Islamic economy enjoys the best economic system and regulations, far better than those of other economic schools. My question is: How is this superiority proved in practice? How does Islam safely guarantee a sound economy without taxation? Please, answer the question in as much detail as possible.
Answer 39: The superiority of the Islamic economic system is because of the strong rules and regulations existing in it. By reviewing various Islamic contracts such as Mozarebah, partnership, Ju'alah and the likes which have their independent particular features, impacts and aspects, we can understand the superiority of the Islamic economy to other economic schools. There is no economic school that may have such different contracts with the special features that have been explained and demonstrated in the Islamic jurisprudence. Islam encourages earning halal property and has considered it a kind of jihad in the way of God. It has also forbidden usury and allowed interest-free loans. These rules, if applied correctly, would solve many a number of social problems. Khums, zakat and their important results as well as their specific consumption areas are a good reason for the superiority of the rules of the Islamic economic system. Of course, you know that the aim of Islam's economy and its strategy is not the enlargement of capital assets despite encouraging productive labor and work but the aim of Western economic schools is to develop and increase wealth in any possible manner.