Comparison Of Eco System
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COMPARISON OF ECONOMIC SYSTEMS By Rafia Ayub
DESCRIPTIONS
.Motive
Freedom of Choice
Role of Government
Halal & Haram
CAPITALISM
SOCIALISM
ISLAMIC ECONOMIC SYSTEM
Earn Maximum
Public welfare & interest
Profit motive as well as Public interest
allowed
Not allowed
Allowed
with certain limitations
Major Role
Govt. Intervention Necessary
No distinction
At the discretion of Government
Haram is strictly prohibited
DESCRIPTIONS
CAPITALISM
SOCIALISM
ISLAMIC ECONOMIC SYSTEM
Hoarding
No restriction
Not possible
Not allowed
Monopoly
Exists
Doesn’t exist
Not Allowed
Cartels
Exists
Savings
Unlimited
Doesn’t exist
Government Savings
Not allowed
Moderate
DESCRIPTIONS
.Motive
Freedom of Choice
Role of Government
Halal & Haram
CAPITALISM
SOCIALISM
ISLAMIC ECONOMIC SYSTEM
Earn Maximum
Public welfare & interest
Profit motive as well as Public interest
allowed
Not allowed
Allowed
with certain limitations
Major Role
Govt. Intervention Necessary
No distinction
At the discretion of Government
Haram is strictly prohibited
DESCRIPTIONS
CAPITALISM
SOCIALISM
ISLAMIC ECONOMIC SYSTEM
Hoarding
No restriction
Not possible
Not allowed
Monopoly
Exists
Doesn’t exist
Not Allowed
Cartels
Exists
Savings
Unlimited
Doesn’t exist
Government Savings
Not allowed
Moderate
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