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Status:
Available4.6
29 reviewsISBN 10: 1450074855
ISBN 13: 9781450074858
Author: Mohammad Malkawi
The Fall of Capitalism and the Rise of Islam provides a critical analysis of the current financial crisis in the US and the world at large. It concludes that the current crisis could very well be a sign of failure of the underlying system of capitalism. The book shows that the system of capitalism contains serious faults and defects at the core theory level. Economic and financial crisis periodically occur whenever these defects are triggered by various conditions and political decisions during the life of capitalism. The collapse of financial institutions, the crash of the housing market, the evaporation of trillions of dollars, the creation of virtual unreal wealth, and the decline of productivity are symptoms of the potential failure of the ideology of capitalism. This failure has serious impact on the life quality of billions of people around the world who suffer from poverty, hunger, health insecurity, lack of education, and serious inhuman conditions. The world order under capitalism witnessed multiple world wars, political and economic instability, colonialism, absence of peace, deprivation of justice and polarization of wealth and power. This book predicts a potential crash and collapse of the world order under the pressure of a failing capitalism. Concurrent to the decline and potential collapse of capitalism, the book makes an account of another global phenomenon, namely the second rise of Islam. The rise of Islam, similar to the first one that lasted for thirteen hundred years, is a comprehensive rise that brings up the economic system together with the political system, and the moral system together with the legal system. It is much needed and sought to introduce to the world a system full of justice, fairness, and geared toward productivity and human righteousness. The new rise of Islam is argued to be in the best interest of the human societies around the world, and that the propagated fear of this rise is unfounded. The book provides a detailed description of the economic system and the political economy of Islam. It provides compelling evidence that the Islamic political economy characterized by sustained productivity and wealth distribution guarantees the satisfaction of the basic needs of a human. The Islamic political economy integrates several mechanisms for natural distribution of wealth, while it maintains a high level of productivity through the inhibition of usury, hoarding, and exploitation. The Fall of Capitalism and the Rise of Islam makes extensive references to a score of historians, scholars, and scientists who provide a fair testimony of the Islamic civilization and the ideology of Islam.
Introduction
Financial and Economic Crisis
Moral Crisis Behind the Financial Crisis
The Rise of Islam
Capitalism: A Historical Perspective
Capitalism: The Complex System and the Fault Model
Flaws and Defects: Dormant Faults in the System of Capitalism
Capitalism in Action: Performance Scoreboard
Capitalism: Signs of Failure
What Is Next?
The Ideology of Islam
The Foundation and Structure of Islam: Historical Perspective
The Rise and Decline of Islam
The Economic System in Islam
Private and State Property in Islam
The Prohibition of Usury and Hoarding
Partnership Between Labor and Wealth (Mudharabah)
Benefits of the Gold Standard
Methods of Issuing Currency and Exchange Rates
Satisfaction of Basic Needs in Islam
Zakah and Social Support Systems in Islam
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Tags: Mohammad Malkawi, Capitalism, Islam