الأربعاء , أبريل 17 2024

Theory of Wealth Distribution in Islamic Economy

The distribution of wealth among the people of society is one of the most important subject in the economy, distribution and its methods keep the economic balance among the people of the society. Therefore, fair distribution of wealth leads to the welfare and comfort of all people in society. Distribution theory has been remained a hot discussion and argument among the different economic schools for a long time.

Capitalism believes in the freedom of the individual in all areas, the general law in the capitalist system is that each production factor determines its part in wealth. The factors of production are land, workforce, capital and employment. The theory of capitalism in the domain of the division of wealth is that that the land gets lease or rent, the workforce gets wages, capital gains profit and the employer gains benefit.

Socialists believe that the equal distribution of wealth is the key solution to all the problems of society and argue:

Due to the lack of reasonable distribution of wealth, numerous major problems raised in society. According to socialists, in fact the unequal distribution of wealth in a society is the basic reason of all economic problems among the people of society. They suggest that all tools and factors of production should be taken from individuals and should be controlled by government. The people of society should have fair access to the wealth produced from it, and the government itself should have a mechanism for wealth distribution.

However, the Islamic economic system has another theory. Its crux is: the variance in the wealth of the people of the society is a natural matter, all human beings are not equal in wealth. Distribution from the perspective of the Islamic economy has three stages: The first stage is possession of items; the second stage is the distribution based on the contribution of each production factor in wealth production and the third stage is the redistribution of wealth distribution by some distributing mechanism. 

Keywords: Distribution, Distribution Material, Distribution Stages, Wealth.

Dr. Mohammad Yunus Ebrahimi, Associate professor, Afghan International University – AFGHANISTAN

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