Today, much of the world problems are a direct result of capitalism, which principally allows unbridled accumulation of capital and freedom of ownership. These principles translates into third world being forced to liberalize its economies, hoarding and manipulation of food supply, genetic seeds, monopolizing markets in the name of free trade, and taking control of natural mineral resources around the world. The irony is that, the doyens of capitalism are able to achieve this through their loyal dictators in countries like Pakistan or subservient monarchs in the Middle East. When all else fails, a direct military intervention by the imperial powers is the adopted way to extend their control, as seen in Iraq, and Afghanistan. In the face of this capitalist hegemony, stands the ideological challenge presented by Islam. As opposed to the capitalist myopic viewpoint, Islam presents a uniquely realistic approach to the crises the world faces at large, and the third world bears in particular. From the perspective of Islam, natural resources are sufficient to fulfill the basic needs of humanity, and any imbalances are the results of constriction in distribution. It is therefore, no wonder, that the economic system of Islam gives considerable focus to ensuring circulation of wealth. The governance and economic system of Islam - embodied in the Caliphate, presents detail injunctions, to deal with the problems the world faces today. -SHARIQUE NAEEM, Lahore, via e-mail, July 20.