Concept of private ownership in Islam

The idea of private property is the core of capitalism. The negation of this idea is the core of socialism. Complete freedom of ownership in capitalist societies has led to an increasing gap between the wealthy and the poor and has strengthened gigantic corporations and cartels. The price system and the desire for profits reign supreme in such societies. Communism has come to treat humans as machines, while in fascism, individuals lose their identities. Islam offers a balance between the extremes of capitalism and communism. The Qur`an clearly declares that absolute ownership of all things is God's. The role of human beings is simply that of viceregency. Islam requires: that property be used and not be long left unattended; that any task undertaken be performed as well as possible; that zaka be paid on wealth; that property be used for people's benefit; that wealth not cause harm; that resource acquisition occur by permissible means; that spending be moderate; that benefits be