In Islam...

In Islam, the following rule is applied: "Work is the excuse for possession, but it does not alone create the value of goods." Means of Possession in Islam The basic concept that possession cannot be achieved without work. Work is not the only contributor to the value of goods, because goods have an intrinsic value. Hence the phenomena of persistence of possession appears. Workers are to own their work. For instance, mines should be owned by the workers, and not by the Capitalists.

Natural resources are not possessed by any person. But anyone who provides the raw materials is considered as the owner of it after production, according to the second half of the rule (that is the phenomena of persistence of possession). This point is very important in distinguishing the Islamic Economic system from Capitalism and Communism. Previous…