Conceptualizing Poverty in Capitalism and Islam
This study investigates poverty in Capitalism and Islam in terms of both; as an economic ism and as a living ideology. Capitalism as a living ideology, based on its’ philosophical foundations, eventually yields class conflict, deprivation, discrimination and accumulation of wealth in the hands of a...
| Main Authors: | , |
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| Format: | Article |
| Language: | Arabic |
| Published: |
SZIC University of Peshawar
2015-12-01
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| Series: | الإيضاح |
| Subjects: | |
| Online Access: | http://al-idah.szic.pk/index.php/al-idah/article/view/180 |
| _version_ | 1818067280606527488 |
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| author | Dr. Zahoor Khan Dr. Karim Ullah |
| author_facet | Dr. Zahoor Khan Dr. Karim Ullah |
| author_sort | Dr. Zahoor Khan |
| collection | DOAJ |
| description | This study investigates poverty in Capitalism and Islam in terms of both; as an economic ism and as a living ideology. Capitalism as a living ideology, based on its’ philosophical foundations, eventually yields class conflict, deprivation, discrimination and accumulation of wealth in the hands of a few capitalists. Capitalism as an economic ism has become unpopular in the world not only because of socioeconomic injustices but also due to environmental degradation and losses in biodiversity. Theoretical analysis reveals that the built in mechanism (Demand-Supply) of capitalism is incapable to resolve the issue of poverty effectively. Poverty in Islamic context is a pure economic concept which does not affect the social class system and social values of humans. Furthermore, the measurement concept of poverty in Islam is different from the Capitalism. Poverty has been measured based on the minimum prescribed amount (Nisab) postulated by Islam. Various categories of the poor have been identified while benchmarking the minimum prescribed amount. Keeping into consideration the philosophical foundation of the Capitalism and Islamic Economic System (IES) the study reveals that IES has more potential to resolve the issue of poverty on more fair and equitable basis than the Capitalism. |
| first_indexed | 2024-12-10T15:21:10Z |
| format | Article |
| id | doaj.art-16f183d5e7a2439aa8b2dcaf86ca7165 |
| institution | Directory Open Access Journal |
| issn | 2075-0307 2664-3375 |
| language | Arabic |
| last_indexed | 2024-12-10T15:21:10Z |
| publishDate | 2015-12-01 |
| publisher | SZIC University of Peshawar |
| record_format | Article |
| series | الإيضاح |
| spelling | doaj.art-16f183d5e7a2439aa8b2dcaf86ca71652022-12-22T01:43:41ZaraSZIC University of Peshawarالإيضاح2075-03072664-33752015-12-013122636Conceptualizing Poverty in Capitalism and IslamDr. Zahoor Khan0Dr. Karim Ullah1Assistant Professor, Institute of Management Sciences, Peshawar.Assistant Professor, Centre for Excellence in Islamic Finance, Institute of Management Sciences, PeshawarThis study investigates poverty in Capitalism and Islam in terms of both; as an economic ism and as a living ideology. Capitalism as a living ideology, based on its’ philosophical foundations, eventually yields class conflict, deprivation, discrimination and accumulation of wealth in the hands of a few capitalists. Capitalism as an economic ism has become unpopular in the world not only because of socioeconomic injustices but also due to environmental degradation and losses in biodiversity. Theoretical analysis reveals that the built in mechanism (Demand-Supply) of capitalism is incapable to resolve the issue of poverty effectively. Poverty in Islamic context is a pure economic concept which does not affect the social class system and social values of humans. Furthermore, the measurement concept of poverty in Islam is different from the Capitalism. Poverty has been measured based on the minimum prescribed amount (Nisab) postulated by Islam. Various categories of the poor have been identified while benchmarking the minimum prescribed amount. Keeping into consideration the philosophical foundation of the Capitalism and Islamic Economic System (IES) the study reveals that IES has more potential to resolve the issue of poverty on more fair and equitable basis than the Capitalism.http://al-idah.szic.pk/index.php/al-idah/article/view/180"capitalismislamic economic systemcomparative analysispoverty " |
| spellingShingle | Dr. Zahoor Khan Dr. Karim Ullah Conceptualizing Poverty in Capitalism and Islam الإيضاح "capitalism islamic economic system comparative analysis poverty " |
| title | Conceptualizing Poverty in Capitalism and Islam |
| title_full | Conceptualizing Poverty in Capitalism and Islam |
| title_fullStr | Conceptualizing Poverty in Capitalism and Islam |
| title_full_unstemmed | Conceptualizing Poverty in Capitalism and Islam |
| title_short | Conceptualizing Poverty in Capitalism and Islam |
| title_sort | conceptualizing poverty in capitalism and islam |
| topic | "capitalism islamic economic system comparative analysis poverty " |
| url | http://al-idah.szic.pk/index.php/al-idah/article/view/180 |
| work_keys_str_mv | AT drzahoorkhan conceptualizingpovertyincapitalismandislam AT drkarimullah conceptualizingpovertyincapitalismandislam |