Social Harms of Interest

Interest, which is an undeserved gain, leads to the breakdown of the social order. To abolish it would close the door to many conflicts it causes. As economic events can be seen like social events, the economic effects of interest and all the problems that occur due to interest can be seen as its social effects. Indeed, in countries where the economic troubles such as unemployment, low income, corrupt income distribution, people are, in the words of Plato, like idle masses carrying poison in them. Some of these people are…

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Employer and Employee Relations in Islam

The relations between “haves” and “have-nots” have been problematic since ancient times, and remain so today. The greed of man has always led him to turn his fellows into slaves in all cultural spheres. How Islam treats this issue is worth looking into. It is possible to examine the themes of the Islamic economy in two consecutive phases. The first category and phase is “the transitional period” and the second phase is “the ideal Islamic economy”. The Islamic economy of “the transitional period” basically takes the contemporary life order into…

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Akhism – Business and Professional Ethics

Through Akhism, which was an economic union and organization in Islamic history, it was intended that al Madinatu’l Fadhila (the Ideal Society) would be established among Muslims. There are many lessons that may be drawn from this particular experience in history. Ethics is a system of rules and principles which regulates the relations between people, provides the society with trust, peace, order and bliss, and which is a touchstone of what it is good and what it is bad for society. Ethics, which is an indispensable part of the life…

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