But their efforts did not bear fruit.

But their efforts did not bear fruit. In the year 1847 A.D. one German born Jew, Karl Marx enunciated the norms of socialism as a Concept of Economics. He believed that it was the remedy for all the economic and social ills This was the time when in Russia there was excess of wealth and the affluent groups were rolling in wealth and on the other hand, due to unemployment and economic problems there was general discontent among the masses.

The majority of people was farmers and because of coming up of industries, a new group of workers too came into existence. The farmers were at the mercy of the landlords and the workers were subservient to the factory owners. Because of the ill treatment by the factory owners and the landlords, the workers were striking work and the farmers started agitations. Ultimately, the people started hating the moneyed classes and the path was thus leveled for the rise of socialism.

Therefore, after the death of Marx, Lenin rose and in 1917 A.D., he formally launched the concept of Socialism. He gathered around himself the Russian youth with the slogan of equitable distribution of wealth and crushed the opposing voices with force. He ultimately succeeded in formulating a system based on the concept of Socialism. Some other countries too were impressed with the concept and accepted it with some minor changes.

Whether it is the concept of Capitalism or that of Socialism, both revolve around worldly economics and economic growth. They neither have any consideration for religious and moral norms nor other values of material. The difference between the two is that capitalism believes in Economic Freedom and Concept of Individual Ownership of assets, but there is no guarantee of Economic Safety. In Socialism, there is Guarantee of Economic Safety but the individual ownership of assets is not permitted.

The Islamic Economic System that is quite close to nature provides solution for all the economic ills and problems. This system neither depends on experimentation nor is it the result of the thoughts of experts in economics. It is the Concept propounded by Allah and presented by the Prophet of Islam (a.s). The System, instead of depending on the personal or group interests, stresses on collective interests of the society.

The reason is that Allah is not the Creator only of any particular person or a group. Everyone owes his, and her, existence to Him!