Is There an Economic System in Islam?

Probably the most persistent question which occupies many minds, one which is repeated on every tongue and is recurrent with every problem through which the nation passes as long as it exists, is the question regarding the economic doctrine in Islam; so, is there any economics theory in Islam?

Can we find a solution for this polar contradiction between capitalism and Marxism, which is dominating the world nowadays, through a new substitute derived from Islam and extracted from its method of legislation and organization? What is the extent of the potential of this new Islamic substitute in providing a good standard of living, in carrying out its message to the nation which is suffering nowadays from a severe doctrinal dilemma within the tumultuous torrent of such intense conflict with capitalism and Marxism?

Contemplating on this new substitute, or wondering about its reality and Islamic context, is not an intellectual luxury a Muslim relishes; rather, it is an expression of the disappointment of the Muslim individual with both contesting wrestlers and a manifestation of his own reaction to their failure throughout the various experiences he has lived, the failure of the combating wrestlers, capitalism and Marxism, in filling the Muslim nation's doctrinal and ideological vacuum.

Contemplating on the Islamic substitute, or inquiring about it, in addition to the indication of the disappointment of the Muslim individual with the contesting wrestlers, reveal a new trend towards Islam, and all in all they reflect an Islamic consciousness which has begun crystallizing and taking various intellectual levels in the minds of many people, each according to the extent of his readiness and degree of response to Islam.

The seeds of an Islamic consciousness manifest their existence in the minds of a large number of people on the level of raising questions about Islam, in the minds of others on the level of an emotional inclination towards it, and in yet other minds on the level of believing in it and in its rightly-guided leadership, in all spheres; it is their very belief in life itself.

Islamic consciousness, which is stirring now in the minds of the Muslim nation on various levels, is the one that once laid the question, and inspired the answer in favor of Islam. On other occasions, it was embodied as a giant conscious belief planted in the right soil of the nation’s minds, the soil that represents Islam among Muslims.

On the other hand, the Islamic faith itself forces Muslims to lay this question down to the faith or to its ‘ulema (theologians) who represent it, asking them to provide the better substitute for both contesting opponents, capitalism and Marxism. Islam declares very clearly in the Holy Qur’an, in the legislative texts of the Shari’a, and through all other vehicles of media at its disposal, that it opposes both capitalism and Marxism.

Naturally, it is responsible for defining a positive situation, besides that negative one, to lead us to another path with whose viewpoint and general structure it agrees. The negative attitude, when separated from a constructive response which outlines its objectives and defines its pathway, means the retreat from life’s battlegrounds and the final social disintegration, not merely subscribing to a new ideology.

Since it does not approve to be included within the frameworks of capitalism, socialism and Marxism, Islam, then, has to provide an alternative, or at least lead us to one. It becomes only natural for Muslims, who have come to know Islam’s negative attitude towards capitalism and Marxism and its disapproval of them, to inquire about the extent of Islam’s might and ability to provide this alternative, and the extent of success which we may attain if we are to be satisfied with Islam itself, inspired thereby to derive an economic system.

Our answer to all of this is: Islam is capable of providing us with a positive stance rich in legislative characteristics, general outlines and detailed canons from which a complete economic system can be formulated, one which differs from all other economic doctrines in its Islamic framework, divine link and harmony with humanity, all humanity, in its spiritual and materialistic spheres and dimensions of both time and place.

This is exactly what we shall witness in the forthcoming researches.