“As in a Capitalist system, in Islam, too, there is a social contract between the rich and the poor...”
“ IT MATTERS TO ME. . .”
In Islam, as in Capitalism, enterprise is actively encouraged and anyone can become wealthy if they’re willing to work hard. I consider myself a Capitalist, not only because I have seen the success of it in modern Britain, but also because I believe, in the words of Ayn Rand, that it ‘frees people to act in their rational self-interest.’ This means acting in the way that is most personally beneficial, to an extent. However, coming back to my Islamic beliefs and my sense of morality as a whole, this should not, and indeed does not, mean that we should disregard the poor. As in a Capitalist system, in Islam, too, there is a social contract between the rich and the poor, whereby the political and economic systems (for example, via charity, one of the five pillars of Islam) assist the very poor and through social mobility they, too, can benefit from the fruits of an enterprise-led, Capitalist system. It should be our aim to make the social ladder easier to climb, and the welfare system that we have in place in our country today, ensures this. But what about those at the bottom of the social ladder? Those that often, and on some occasions rightly so, make Capitalists such as bankers the subject of intense ridicule, calling them things like ‘fat cats’? Yes, laissez faire economics, that I personally believe work, may result in many people feeling they have been forgotten by the state, and all should be done to aid these individuals; but, in the end, free markets promote freedom and democracy and are fundamental in this democratic state. Although I am sure not everyone agrees with this statement, Capitalism has proved successful in all corners of the world as a means of wealth creation, triumphing over Communism, and we as a nation have shown that it is possible to be both a Capitalist country, where everyone has the chance of financial success, and a country that cares for those who aren’t so fortunate. I hope I have capitalised on this opportunity, if you pardon the pun, and, in economics terms, have supplied what you demanded.
CAPI TAL I SM
I S LAM A N D
W hat is the dictionary definition of industry are controlled by private owners for profit, rather than by the state. Although the stereotypical Islamic view is not a Capitalist one, Capitalism is, in my eyes, the gateway to success; so I’d like to comment on this economic system, not only from the viewpoint of a Capitalist but also from the viewpoint of a follower of a religion, Islam, in which greed is condemned and helping the poor is a must. As a Muslim, I try my best to follow the rules of my religion, which in my eyes and the eyes of most Muslims – but not all – is a peaceful one. These rules, much like the values of this College, encourage me to be kind to others and help those who require help. I think that the Capitalist system of this country is and rightly should be the envy of all nations. It is a country where healthcare is free, where education is considered a birthright and, more relevantly, one where all have an opportunity to become wealthy. When asked to speak on something that interested him, Tohid Ismail of Year 11 chose to unite two seeming opposites. Capitalism? It is an economic and political system in which a country’s trade and
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