Usury and Interest: A Comparative Economic Study (book): Difference between revisions
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At the conclusion of this chapter, the author presents several common criticisms to all theories. He indicates that in Islam, if capital takes the form of either goods or cash, it is permissible to set a portion of the profit in exchange; however, it is not permissible to assign a benefit to it. Thus, the theories mentioned are closely aligned with Islamic teachings as they establish a return and profit for capital. Moreover, these theories can be employed to challenge collective theories that deny any form of profit from capital (p. 75). | At the conclusion of this chapter, the author presents several common criticisms to all theories. He indicates that in Islam, if capital takes the form of either goods or cash, it is permissible to set a portion of the profit in exchange; however, it is not permissible to assign a benefit to it. Thus, the theories mentioned are closely aligned with Islamic teachings as they establish a return and profit for capital. Moreover, these theories can be employed to challenge collective theories that deny any form of profit from capital (p. 75). | ||
Following these criticisms in the final section of his article, Al-Masry outlines six points. He notes that in Islam, both work and capital can provide adequate returns, and the reasoning behind the restriction of certain benefits for capital is to promote risk-taking among individuals, ensuring that risk is not solely associated with labor. He urges Muslims to steer clear of being trapped by socialist and capitalist perspectives and to preserve their intellectual freedom. (p. 81) | Following these criticisms in the final section of his article, Al-Masry outlines six points. He notes that in Islam, both work and capital can provide adequate returns, and the reasoning behind the restriction of certain benefits for capital is to promote risk-taking among individuals, ensuring that risk is not solely associated with labor. He urges Muslims to steer clear of being trapped by socialist and capitalist perspectives and to preserve their intellectual freedom. (p. 81) | ||