Communism, Capitilizm and Islamic Economy

[Arabian Princess]

There are three types of economic idologies (and sometimes it affects political decisions).
What are the differnces between those three idologies? we could discuss them here.

[Wardat_il'7leej]

Arabian Princess
Why not mention the types of economic idologies?

[Kamakazy]

Originally posted by Wardat_il'7leej
Arabian Princess
Why not mention the types of economic idologies?

maybe if you read the topic title you could get the three

Communism, Capitalism and Islamic Economy

i thought there were more, like Socialism!!! i might be wrong

[Wardat_il'7leej]

I meant mention them in the topic....ohh well :lost: :lost: and to give us a little info. about each: Communism, Capitalism and Islamic Economy plus Socialism. What about RADICALISM

Islamic Radicalism in the Arabian Peninsula (http://www.ndu.edu/inss/strforum/forum67.html )

[samy]

Radicalism is not considered as a kind of economic ideology .it is a political wing based on internal-oriented governmental movement that direct all the decisions taken to fulfil the radical strategies of that particular government ... :) but i do like to add socialism to the above varieties of the economical ideologies ...
Now i would like to ask our expert (AP) to define them for us . cuz i really like to know the what it exactly means.:D

[Arabian Princess]

ok I will start defining the idologies (capitilizm, communisim, soiclists and Islamic economy)

Capitalizim

economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor.
Capitalism is grounded in the concept of free enterprise, which argues that government intervention in the economy should be restricted and that a free market, based on supply and demand, will ultimately maximize consumer welfare.


Comunisim

The term Communism is applied to the movement that aims to overthrow the capitalist order by revolutionary means and to establish a classless society in which all goods will be socially owned. The theories of the movement come from Karl Marx , as modified by Vladimir Ilyich Lenin , leader of the successful Communist revolution in Russia.

Socialisim

general term for the political and economic theory that advocates a system of collective or government ownership and management of the means of production and distribution of goods. Because of the collective nature of socialism, it is to be contrasted to the doctrine of the sanctity of private property that characterizes capitalism.Where capitalism stresses competition and profit, socialism calls for cooperation and social service.

The term socialism is often used loosely to describe economic theories ranging from those that hold that only certain public utilities and natural resources should be owned by the state to those holding that the state should assume responsibility for all economic planning and direction.

The pervious defention are from: www.encyclopedia.com

Islamic Economy

Islamic economy is an idology based on the teaching of the Quran, The holy book for muslims. This economy have a mizxture of all economies with certain resctrictions. These restrictions come from the teachings of Quran that forbid certain behaviours in the market. Examples of these restrictions are intrest (usury, Riba).

I defined Islamic economy by my own, so it might be lacking some facts so if members have any addition to it, please do so to all of the above definitions. I just wanted to start defining and then we can start discussing them.

[Arabian Princess]

ok, I realised that the defention in the past posts were a bit complicated.
SO I would try to explain more about them here.

Capitilsim:

The basic idea in capitilism is compeition. Capitilists beleive in a FREE MARKET operation where what people want would meet what the proudcer would want to buy. They beleive the market adjust its way to an equllibrium where supply and demand meet.


Communisim:
Well am not very sure about this, but I think generally they beleive in an Equal shae of all the resources to all the people. The state owns all the resources and responsible of distributing it equally.

Socialism: Well I think it is a kind of communism???? :lost: I dont know much about this so if anyone have extra knowledge it would be nice to share it with us ..


now, waiting for more contribution in those idologies and what you personally beleive in.

[shamsery]

Arabian Princess.
In the days main problem is to occupy market by which one can dominate others. The reason of unrest in world is the struggle of establishing economical hegemony. Let us examine the basic concept & different thoughts of economics. There may be direction how the unrest can be removed?

[Arabian Princess]

Well Shamsery, you can start leading this disscussion.

I agree with you that every strong economy having a different idology try to prove that they can occupy the world with what they are doing.
We saw the fall of communisim and socilizim and now the only strong economy is capitilizm which basicly has no humane feeling for the poor and needy in any economy coz they beleive in competition and nothing else.

I am (as an adovcate of the Islamic Economy) sees the answer in the Islamic economy. I beleive it has a balance between all means of production in the economy. A person is allowed to own but at the same time he is not allowed to exploit. Usury is seen as one of the big sins and it is mainly because it is the base for exploitation.

[shamsery]

Fall of Soviet Union is a fall of a super power no doubt but it does not mean the fall Marxist Economy. For example China, Vietnam & Cuba are socialist country. Until some one cannot proof that the “theory of surplus value” is wrong the Marxist Economy will remain valid. It will remain as a threat to free economy.
So we can evaluate the concept of these two. Those who believe in Islam may kindly study the concept of Islamic Economy. We can try to penetrate in deep for examining its glory. Let us try gradually and consistently.

[Nimr Mal Zibala]

u know wat it doesnt matter which political path u choose its all rubbish and none of them really work anyway. Live your life dont spend all of it complaining about this or that. If ur not happy with the current situation go shoot someone but please lets not have preachings of totalt and utter bulllshyte idealogies , I just dont want to hear it

[Orion]

Fishfood21,

Which animal crawled up your *** and died?

[shamsery]

Dear fishfood21,
Honestly speaking, I could not understand what you wanted mean by your reply. This much I understood that you could not like the topics. No one is preaching, but the fact is this you yourself cannot go out of this vicious circle. These economical systems have direct impact on our live too. Hope you must know the difference between complain and discussion. If you are on Sabla for humorous conversation, with due apology, this topics is not for you.

[shamsery]

May I invite you to activate this thread.

[Arabian Princess]

Promise I would. am quite busy these days, just give me time. Please other members can start activating it now.

[shamsery]

Sister AP,
This topic is not simple rather hard and controversial. Especially Islamic economy. I am looking for a competent person who may take the lead. My knowledge is very poor on the issue.

[Arabian Princess]

as I promised, am back to the topic ..

as i raised the three differnt systems, I cannot continue this topic unless i get feedback .. questions and view points !!

so, anyone is ready to discuss with me this topic?!

[el7ilwa]

Well I'm ready to discuss it with u dear, what do u think to discuss the advantages & disadvantages for each system so we can find which is the best from them & can be succesful...as we didn't knew that from the history in Russia for example....
What do u think?? The y must be points to discuss them right??

[Arabian Princess]

ok, lets start with Communisim .. scince I guess is the easiest ..

what are the advanatges of Communisim?

Personaly if we refer to teh thoery, commism calls of equalisim .. its tries to eliminate classes which are mostly the reason of social problems.

other advantages?

[el7ilwa]

Another advantage is the government can control their budjet & can avoide any economic problem like inflation for example cauz every thing between their hands.

[el7ilwa]

Some thing else, that this system may provide jobs for every body, so UNEMPLOYMENT will reduce which is a good point for them, while the other systems facing this prb.

[Man of principl]

Hi every body

Sorry for being late and not being an active member her in the economic sablah but I was really busy with school and I hope I can add value in this topic

I will talk about the first two ideology coz I guess the last one about Islamic economy is clear don’t need to by clarify unless you feel so,

First what is the economic ideology communism?
actully commuism derive with it the command economy which Is a centralized market system which means that government is the planner and controller of the Economical system and activities to organize the economy fully? Not like the free market system these days like USA (Captlizem).


This system collapsed in 1989 with the collapse of the Soviet Union and it was used throughout central and Eastern Europe although most of them moved to the free market and they have been through hard processes which might be discussed later.

Communism collapsed for five main reasons:
1. Failure of Coordination.
2. Failure of Quality Control.
3. Misplaced Incentives.
4. Environmental Degradation.



Fist one means that government failed to control the investmente, trade, production and consumption decision that may be made by investor and consumers through the whole country which have been proven impossible to be done by the government.

Second one means that government can monitor the number of units produced by any factory and reward plants that exceed their production targets and punish ones that fall short. factory mangers operating under these conditions will meet their quotas by whatever means are available and once that goods pass out of their factory is some ones else headache.
In Market economies poor quality punished by low sales and retailers soon give a signal to factory mangers by shifting their purchases to other suppliers
The incentives that obviously flow from such private sector discretion are most of the time absent from these command economy (Communism counter) where all these sales and purchases are planned and controlled by the government


Third Misplaced incentives
In free markets or (Market economy) like Most Modern developed countries. Relative wages and salaries provide incentives for labor to move from place to another and the possibility of losing ones job provides an incentive to work diligently not like in command economies in communist countires.This is a harsh mechanism that punishes losers with loss of income. In planned economies workers usually have complete job security .Industrial unemployment is rare and even when it does occur, new jobs usually found or created for all who lose theirs. Although the high level of security is attractive to any people it proved impossible to provide sufficient incentive for hard and efficient work under such conditions (communism)

Fourth Environmental Degradation
Fulfilling production plans and achieving them the ultimate goal in planed economies without considering other factors like the environment. This lead Environmental degradation occurred in the Soviet Union and the Countries of Easter Europe on a scale unknown in advance Western nations.
A disturbing example happened in central Asia where high quotas for cotton output led to indiscriminate use of pesticides and irrigation. Birth defects are now found in nearly one child in the three and the vast Aral Sea has been half drained causing major environmental effects

What is capitalism?
Capitalism, economic system in which private individuals and business firms carry on the production and exchange of goods and services through a complex network of prices and markets. Although rooted in antiquity, capitalism is primarily European in its origins; it evolved through a number of stages, reaching its zenith in the 19th century. From Europe, and especially from England, capitalism spread throughout the world, largely unchallenged as the dominant economic and social system until World War I ushered in modern Communism (or Marxism) as a vigorous and hostile competing system.

Adam Smith In his famous treatise, The Wealth of Nations, Adam Smith argued that private competition free from regulation produces and distributes wealth better than government-regulated markets. Since 1776, when Smith produced his work, his argument has been used to justify capitalism and discourage government intervention in trade and exchange. In Smith’s words, private businessmen seeking their own interest organize the economy most efficiently “as if by an invisible hand”.Sperr/Archive Photos

The term capitalism was first introduced in the mid-19th century by Karl Marx, the founder of Communism. Free enterprise system and free market economy are terms also frequently employed to describe modern non-Communist economies. Sometimes the term mixed economy is used to designate the kind of economic system most often found in developed nations.

The individual who comes closest to being the originator of contemporary capitalism is the Scottish philosopher Adam Smith, who first set forth the essential economic principles that undergird this system. In his classic An Inquiry into the Nature and Causes of the Wealth of Nations (1776), Smith sought to show how it was possible to pursue private gain in ways that would further not just the interests of the individual but those of society as a whole. Society's interests are met by maximum production of the things that people want. In a now famous phrase, Smith said that the combination of self-interest, private property, and competition among sellers in markets will lead producers “as by an invisible hand” to an end that they did not intend, namely, the well-being of society.

[Arabian Princess]

as some members like me have the same doubts, what are the exact differences between socialisim and communisim?

[g_power]

Dear Princess,
After reading some articles and books. It appeared to me that Socialism could be the period whcih represt the thoughts of the French merchantalists. And as it is known that one of the influence on Marx was the French socialists, hence, he reformed their thoughts and call it "Communism".
>>> that what i think and i might b wrong:D