The basis of Islamic economic system

Writers on Islamic economics have not hitherto paid much attention to the ideological core of an Islamic economy. Humanity's role in the world is of social creatures subject to God's laws and His divine mandates. Man must distinguish between right and wrong. Both the capitalist and socialist economic systems may be critiqued. In capitalism, rivalry, deceit, and poverty run wild while wealth is concentrated in the hands of a few. While socialism claims to be more just, a socialist government is too much of a force and totally neglects religion. The Islamic system, by contrast, promotes complete justice and upholds property rights as well as other values. It is spiritually oriented and strives to care for all the community's members. Human life is most enhanced and enriched in an Islamic economy.