ভূমিকা

Shiavault - a Vault of Shia Islamic Books Biography of Imam `alĪ Ibn AbĪ-tĀlib The Economic System In modern day, the economic system of countries revolves around capitalism and socialism. The capitalist system is an independent economic order in which every one is free to pursue acquisition of wealth keeping aside all norms of religion and morality. Neither there is any moral bonding in hoarding wealth nor does the society prevent them from doing so.

In this system, the individual’s interest dominates over the interest of the society! The capitalists’ eyes are always focused on the hoards of wealth. This avarice reaches such heights that the capitalist crushes the common interest of the people and adopts the way of selfishness and considers that his aim is to keep running in the race of accumulating wealth.

He neither refrains from harming anyone in this pursuit nor does he feel ashamed of sucking the blood of the poor workers in his factories and establishments. Because of the behavior of these capitalists, the instinct of hate arises in the minds of the suffering workers. The worker thinks that the profit that goes into the coffers of the capitalist is the result of his hard toil. The capitalist on the other hand thinks that the profit comes because of his wisdom, planning and investment.

He thinks that the worker is only a cog in the machines of his factory that can be thrown away when it gets rusted and is useless! This economic exploitation and the difference in the status of the owner and the worker create the socialist movements. The aim of socialism is to eliminate the capitalist and distributing the wealth equitably to all the people in the society.

In the view of these socialists, without removing the single ownership of businesses, the gap between the rich and the poor cannot be bridged. The idea of socialism is not new or a product of the past century. In 500 B.C., Plato noticed the ups and downs of the economy and the wrong attitude of the government of Greece when he laid the foundation of the concept of socialism. In 3rd Century A.D.

during the reign of Qabad, a person by name of Mazdak termed women and wealth as joint capital and propagated the concept of socialism. His contemporaries, and those who followed him, accepted the concept of socialism. But this concept was followed by very few people and after sometime, it almost disappeared. In the I9th Century A.D. Again, socialism was heard of. Some people made efforts to adopt it.