Therefore...

They are all equally entitled to utilize it all the things that come out of the earth, or are produced from the earth, or those that are found in the world, are for the benefit of all men. Therefore, Allah says: هُوَ الَّذِي خَلَقَ لَكُمْ مَا فِي الْأَرْضِ جَمِيعًا. “He it is Who created for you all that is in the earth.

(2/29)” However, a person who acquires, through legitimate means, more or less, wealth through either hard labor or toil like trading, farming, doing jobs or gets it as inheritance without any effort, becomes his. But to maintain a balance between men in the society, a share has been fixed out of this wealth of the person for the society in general.

One reason for this is that the individual remains connected with the society and the society remains in touch with the person and the relationship of mutual brotherhood and equity remained intact. Islam does not believe in capitalism to the extent that the wealth gets intensely concentrated in only a few hands and others live at their mercy. Nor is it so much opposed to capitalism that the person is denied right over the wealth generated with his personal toil and effort.

Islam preaches contentment and treading the middle path and its economic system is based on this concept. In this system, neither unfettered capitalism is allowed that is free of all neither religious nor moral bindings nor socialism that takes away all the individual rights to ownership of wealth and property.

The individual’s efforts are bought by the society for provision of food and clothing in the socialistic system and a special group gets authorized to make use of the wealth thus generated. Islam neither backed capitalism that an unjust and unbalanced social structure came into existence, nor has it preached the unnatural concept of socialistic equality that the state keeps all the resources of production in its control and become responsible for meeting the needs of the individuals.