The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key el...The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key elements in creation of the capital （capital formation） is interest rate. In Islam interest is strictly forbidden. This paper reviews the concept of capital and the process of capital formation both before and after industrial revelation. In that context it also looks at the function of interest rate during the time of Prophet Mohammed and the present time.展开更多
For any society to progress, there must be sensitive leadership that is willing to stir the affairs of the country toward the right direction, the provision of a good life, security, opportunity to exist peacefully, a...For any society to progress, there must be sensitive leadership that is willing to stir the affairs of the country toward the right direction, the provision of a good life, security, opportunity to exist peacefully, a functioning legal system, responsive government, economic prosperity are all fundamental elements for sta- bility, and progress in any society. With a strong leadership in China, it has grown to become the newest and emerging super economic power bloc of the twenty-first century. Government adoption of philosophies such as the Mandate of Heaven, putting the people first, rule by virtue and deep economic reforms has not only bolstered it＇s authority to rule but has fortified the ruling party position as the only legitimate ruler of the greatest populated country in the world. This article develops a perception that stability of any society can only be achieved when it is deeply rooted in the philosophical ideology of that society and pursuing the core interests of the people. This work sets out to explain and examine the nature of the Chinese Communist Party dynamics in ensuring political stability in China over the decades of its inception into the political stream of the nation state.展开更多
文摘The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key elements in creation of the capital （capital formation） is interest rate. In Islam interest is strictly forbidden. This paper reviews the concept of capital and the process of capital formation both before and after industrial revelation. In that context it also looks at the function of interest rate during the time of Prophet Mohammed and the present time.
文摘For any society to progress, there must be sensitive leadership that is willing to stir the affairs of the country toward the right direction, the provision of a good life, security, opportunity to exist peacefully, a functioning legal system, responsive government, economic prosperity are all fundamental elements for sta- bility, and progress in any society. With a strong leadership in China, it has grown to become the newest and emerging super economic power bloc of the twenty-first century. Government adoption of philosophies such as the Mandate of Heaven, putting the people first, rule by virtue and deep economic reforms has not only bolstered it＇s authority to rule but has fortified the ruling party position as the only legitimate ruler of the greatest populated country in the world. This article develops a perception that stability of any society can only be achieved when it is deeply rooted in the philosophical ideology of that society and pursuing the core interests of the people. This work sets out to explain and examine the nature of the Chinese Communist Party dynamics in ensuring political stability in China over the decades of its inception into the political stream of the nation state.
