Capitalism vs Communism

Eminent Tunisian poetess and thinker Ms. Hela Tekali has asked me to explain the drawbacks of Capitalism and Communism. She writes:” What is the difference between capitalism and communism and what are their drawbacks and their impact on citizens.” Very briefly, I would like to answer this question and wish that people should understand that these two economic systems are poles apart. On December 8, 2023, I had written an exclusive and implicit article titled “On the Islamic Economic System”, which was published in a leading English daily newspaper.
There are three economic theories or systems. First: Capitalism. In the economic terminology, it is called “Laissez faire capitalism”, which means “free enterprise”. It is the policy of leaving things to take their own course, without interference. In Economics, it is abstention by the government from interfering in the working of the free market. The book of Scottish Economist Adam Smith titled “The Wealth of Nations” published in 1776 is considered the Bible of capitalism. The capitalists claim that free market economy encourages and enhances free competition that leads to the production and provides best commodities on cheaper rates. Second; free economy is the base of freedom of individuals and solidifies the foundations of democracy. This claim has failed as capitalistic competition has taken the shape of monopolization. In America and in the Western countries, small businesses have failed and throttled and only Big Companies have control over economy. Besides, in capitalist societies, the Natural and un- Natural resources are in the hands of individuals. The state has no control on any means of production or human resources and public services. Feudalism is the natural product of capitalism. So far as the claim of the freedom of the individual and democracy is concerned, both have become the toys and playthings in the hands of the capitalists. Majority of the inhabitants of the Capitalist countries live hand to mouth in a miserable condition. There is no social justice in capitalist states.
Karl Marx is the father and founder of modem Scientific Socialism. In his book titled “Das Capital,” he rejected capitalism and proposed Communism. The communists claim economic and social justice. In the Communist states all natural resources such as land, and minerals are State property. Even, people can not do private jobs. It is known as a State controlled economy. There is one party rule and no democratic institutions. The British philosopher Bertrand Russell had written a book titled “Road to Serfdom”, in which he named communist state as a “Prison.” The communists feel pride and pronounce that they provide basic necessities such as food, shelter, clothing, education and health care to their citizens. Their claim, apparently, is appeasing but the reality is different. The ruling class enjoys the perks and privileges and the majority of the people neither have political freedom nor economic parity. They can not oppose the authoritarian rule and the financial corruption of the ruling coterie. Communist state is a fascist state.
Islam believes in an egalitarian state, which provides both, political freedom and social justice. But, unfortunately, in Muslim countries, neither, there is democracy nor social justice, as these countries are under the stone wall of monarchy and capitalism. The Quran says:” Land belongs to God.” Then it says: “All the treasures of the skies and the earth belong to God.” These Quranic Verses reject feudalism. The Quran further says: “They ask you what to spend/ surrender; say: more than need.” This verse clearly rejects capitalism. To provide basic needs to all citizens is the duty of an Islamic State. Islam condemns Usury; which is the negation of extra wealth. Besides, economic justice, Islam ensures human dignity, equality, justice and freedom. The Quran addresses the Holy Prophet: “Counsel with them in the matters.” This verse is the basis of the democratic system in an Islamic state.
In my opinion, the Scandinavian counties, Denmark, Sweden and Norway are very close to Islamic polity and economy, as they are social welfare states.
Islamic state is a democratic welfare state but out of fifty seven Muslim countries, not a Single Muslim country in an Islamic country. There is a difference between a Muslim country and an Islamic country. Muslim country means, a country where the Muslims live and Islamic country is a country where Islamic laws are implemented, enforced and established. It is called Islamic welfare state.

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