https://www.euronews.com/2019/04/16/capitalism-is-failing-us-all-could-islamic-economics-be-the-answer-view
Billionaire Ray Dalio, manager of the world's largest hedge fund Bridgewater, recently shocked the world when he announced that "capitalism is failing" and that a "revolution" is coming.
There is no denying that global inequality is at unsustainable levels, and that interest-based economies are no longer fit for purpose (in many countries interest rates are too low to incentivise saving at all).
I believe that Islamic economics, with its 2.5% zakat wealth tax (and much lower taxes in other areas) might give us a clue on how to eliminate the worst social inequality. And with a prohibition of abusive high-interest businesses and the incentivisation away from interest-based savings accounts, it can reinvigorate the global economy. These are not just Islamic economic concepts; these are universalist traditional Abrahamic ethics, and a common sense way for us all to enjoy a truly free market.
Read More
https://www.euronews.com/2019/04/16/capitalism-is-failing-us-all-could-islamic-economics-be-the-answer-view
Billionaire Ray Dalio, manager of the world's largest hedge fund Bridgewater, recently shocked the world when he announced that "capitalism is failing" and that a "revolution" is coming.
There is no denying that global inequality is at unsustainable levels, and that interest-based economies are no longer fit for purpose (in many countries interest rates are too low to incentivise saving at all).
I believe that Islamic economics, with its 2.5% zakat wealth tax (and much lower taxes in other areas) might give us a clue on how to eliminate the worst social inequality. And with a prohibition of abusive high-interest businesses and the incentivisation away from interest-based savings accounts, it can reinvigorate the global economy. These are not just Islamic economic concepts; these are universalist traditional Abrahamic ethics, and a common sense way for us all to enjoy a truly free market.
Read More
https://www.euronews.com/2019/04/16/capitalism-is-failing-us-all-could-islamic-economics-be-the-answer-view
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