ISLAM – CAPITALISM OR SOCIALISM

Asghar Ali Engineer

A few days ago a press conference was held in Mumbai by some Muslim organizations including some Muslim theologians claiming that Islam is against capitalism and imperialism and that we would launch a campaign against both. It is indeed a crude attempt to compare or contrast modern political ideologies with Islam which originated in 7th century Arabia. Islam has its central values like truth, justice and equality of all human beings. But these are core values of Islam which very favourably compare with modern concept of human rights, human dignity and social justice. But modern economic conditions and political ideologies have their own origin which has nothing to do with the economic conditions prevailing after Islam appears on the Arabian scene.