productionanddistribution.Thecommunistswenttotheotherextreme
andcompletelydeniedthe conceptof private ownership.Communism
wasa reactionto the vicesof capitalism; buta reactionwhich tried to
completelysupressaconceptingrainedin usbynature,that is,private
ownership.Naturally, as soon asthe masseswere givenpolitical free-
dom,they rebelled againstcommunism.The collapseof thissystem in
Soviet Union and Eastern Europe is a living testamony to this fact.
Althoughcommunismhas failed,ithadquitean impactonthe eco-
nomic policiesofmany countries.QuiteafewWesterncapitalistcoun-
tries,topreventthespreadofcommunism,modifiedtheireconomicsys-
temandcreatedwhatisnowknownaswelfarestates.Awelfarestateal-
lowesprovisionsto preventexploitationofthe workersandto provide
for the basic needs of each citizen.
Islamis“astraightpath;”andnaturally,itseconomicsystemisbased
on very balanced standards.Islam, in contrary to communism, recog-
nises the concept of private ownership.But, in contrary to capitalism,
Islamhaslimitedthemeansofacquiringwealthtopreventtheexcessive
accumulation of wealth in a minor quarter of the society.
TheIslamiceconomicsystemisbaseduponthebeliefthatonlyAllah
istherealandactualownerofeverything.ButGodhasalsoimplanted
the concept of ownership in our nature; and thus, we are allowed to
“own” the wealth of this world. The Qur'ān says,“Whateveris in the
heavensandtheearthbelongstoAllah.”(2:284)Allahistheownerofthe
wholeuniverse.ItisinthiscapacitythatHehasallowedustoownthe
blessingsofthisworldbysaying,“Hehascreatedforyouwhateverthat
is in the earth.”(2:29)
However, Islamalsowants toprevent the excessive accumulationof
wealthinthehandsofafewpeoplesothesocietymaynotfallintotwo
classes: one is overstuffing, whilethe otheris starving. The chance of
sucha situation isveryreal. Alook atone of the richestnationin the
world,theUnitedStatesofAmerica,anditsproblemofthepoor,hungry
andhomelesspeoplewillbearusout.TheQur'ānjustifiestheconceptof
taxbysaying,“...sothat (thewealth)maynotbecomeamonopolyof
the rich among you.”(59:7)