Islam and the West towards a new international economic order

HRH Prince Muhammad Al-Faisal-Al-Saud in his speech addressing UNESCO defines economics in Islamic terms. He outlines the most important differences between a capitalistic economic system and an Islamic one. He further explains the implications of establishing an Islamic economic system in the world. He gives reasons as to why the Capitalist system is failing in the present. He also proposes that the world economy be based on the Islamic model.