Tuesday, July 22, 2008

Geo-political revamp

Today, much of the world problems, are a direct result of capitalism, which principally allows unbridled accumulation of capital and freedom of ownership. These principals translates into third world being forced to liberalise its economies, hoarding and manipulation of food supply, genetic seeds, monopolising markets in the name of free trade, and taking control of natural mineral resources around the world. When all else fails, a direct military intervention by the imperial powers, is the adopted way to extend their control, as seen in Iraq, and Afghanistan.

The governance and economic system of Islam embodied in the Caliphate, presents detail injunctions, to deal with the plethora of problems the world faces today. Islamic revenue generating mechanism, unlike capitalist taxes, such as GST, Income Tax, etc (which disproportionately burden the masses), are based on Ushr, Kharaj, Jizya, Thoghoor, Rikaz, etc. It ensures that natural mineral resources are effectively utilised by the Caliphate state, for the betterment of the people, by making their privatisation illegal. Also, it ensures, a significant net amount is generated by taxing savings of rich people via Zakat, a sum which is then only to be spend on the restricted category of people who are poor, needy, etc. Moreover, essential resources such as oil, gas, electricity, are considered public property, which the state manages for use by the public, and can neither earn profits from nor sold it to multinationals or private firms. The centralised ruling system, a decentralised administration, coupled with the unique courts structure in the Caliphate ensure a transparent governance and use of funds, along with timely accountability.



1 comment:

Anonymous said...

salaam aleikum,

the following links are from books that offer more details on the day-to-day functioning of financial institutions in perpetrating the excesses of capitalism written by someone who used to do it himself:



these books need to be translated into Urdu and Arabic and should be MANDATORY reading for every Muslim.