Islamic economy in modern perspective

Developing countries face issues primarily economic in nature. What is needed at this time is a plan for development by which the wealth disparity between the socio-economic classes will not be exacerbated. Pakistan is in a state of poverty and insecurity. The problem has lasted for decades. While the few enjoy riches, a great majority of the population is at or around the subsistence level. There is an absence of the intellectual vigor needed for growth materially and morally. Corruption pervades the society. The developed world unfairly taps the less developed world for resources. Capitalism calls for free competition and disrupts a society. Laborers are exploited. The distribution of wealth is highly unequitable. Socialism gives tremendous amounts of authority to the government and does not value initiative and progress. Both systems treat men like machines. In Islam, a human has dignity, while selfishness is kept in check. There is a medium between catering to indivi