The concept of capitalism at the exact center of the world. The term being the front runner nowadays. Mass journey from language to language, from home to home, country to country, intercontinental. Capitalism has been dominating the geographies fast since the Middle Age in the globalized world where the borders are removed, trade was liberalized.
What was the capitalism that the world mentioned about? Would the universe be scared of this literature as it was alleged? Or would the capitalism be afraid of reaching to the end by defended by the strong ideology and terms? Starting from this point, capitalism exercising power on the world was the term to define economic and social system of their periods of French socialists such as Proudhon in XIX. Century. They used the term of capitalism to express a social and economic system that they hoped to be replaced by the socialism in the medium or long term. free market economy, liberal system or mixed economy determine capitalism. Capitalism is described with the private ownership of the production tools, coordination of decisions via the exchange in other words market and creating capital accumulation by means of financial institutions. This definition makes capitalism against the socialism. However, according to Karl Marx, as the capitalism replaced the old feudalism, communism being a classless society will replace the capitalism following a political transition process that the “state is only revolutionist dictatorship of proletariat”.
However, it is an acceptable fact that the term of capitalism deserves to be considered. Capitalism is the economic system the dominant figure of which is the capitalist. And this capitalist was understood as the capital owner trying to make the capital in hand productive by investing it or the entrepreneur deciding to use this capital at his own enterprise. They accepted that this accumulation that we call as the investment or capital formation is realized for making profit by the private entities or entrepreneurs. Indeed meeting the production costs was not important at all making profit was important. This would turn into the investment again and the business would grow. This is the mathematics of the capitalism. Growth law was the law of the common interest. When this point of view is extended to the national scale, the economy of capitalist country is accepted as the system aiming to grow. Growth is the wealth growth of course and functions cumulatively. In other words, discontinuation is strange to the essence of capitalism.
While the capitalism progressed confidently and without making concessions of rules, it had problems in universal point of views and geographies. Of course I am talking about the dimension of Islam. What does Islamic dimension say to the capitalism? “If the bankers of Wall Street ravenous for the sake of profit had acted according to the shariah, the crisis would not have reached to this point” these words were quoted from a weekly business magazine published in France. According to Beafils Islam is against money’s making money” and the equivalence of this principle in modern finance term is that “there should be assets against every loan”.
Capitalism being the most widespread and strongest economic system today is against Islam in terms of philosophical basis, aim and results. Materialism is the basis. The aim foreseen for the human is to reach the material richness and to consume it as desired. Unlimited freedom is granted to the individual wishing to achieve this goal. Therefore, opportunism and mercilessness are the moral principles of it. People that it directs to make more profit shouldn’t face any barriers in terms of the passions. All of these led capitalism to inhuman system. Since unlimited freedom granted to the individual and the rule of “let them do” was good for the capital owners most it led to the impoverishment, exploitation of the great masses. The passion of ownership of capitalist led the capitalism to cross the limits and extend to the world and especially despoiling the natural resources of the poor countries.
Considering the world economic system, while societies are struggling with the poverty, capitalists exploit important incomes of the world, they struggle for adding the new one to their budget day by day. Some opinion leaders said that Islam includes a socialist economical perception. We saw that Kaddafi characterized Lebanon as the socialist and said that “we don’t need constitution written by human”. On the other hand, it attracts attention that Islamic oppositions not liking the West in the world integrate with the Western capitalist order when the power is in question. There are many politicians and economists thinking that Islam is not a socialist it is capitalist and saying that “Islam harboured a capitalist economy attitude based on individual ownership”. However, the general point of view is that the fact that capitalist system is dominative on the economic order in the global world makes all roads and even geographies voluntary for giving themselves to the capitalism!
Karl Marx one of the people opposing of the period refers to the capitalism by saying that there may be rotten things in the essence of a system increasing the wealth without decreasing the poverty. He also referred to the danger of ordinary growth rate of capitalism and emphasized that “the last capitalist we will hang will be the person selling the rope to be used for hanging to us.” It is clear that capitalism being the dominant economic system of the world today produces widespread effect dimensions of which go beyond the economic environment. However, I believe that future economic centuries will analyse historical relations and development of capitalism on the basis of correlation between the socialism and democracy and will turn the route of the management of the world economy to the justice..
