by Samir Yousif
Finally I would point out that political Islam has failed to provide a political model that can compete with other contemporary political models, such as the Chinese model, Western democracies, or even developing democracies such as India and the other Asian countries. That comes with no surprise, as religion, any religion, keeps itself centuries behind.
The theme of my argument is the following statement: Islam, as a religion, has nothing to offer to economic or political theory. This simple idea has serious consequences. Political Islam, when it runs the country, will ultimately fail. It has no appropriate agenda that provides solutions to real political or economic challenges such as underdevelopment, unemployment, inflation, recession, poverty, just to mention a few.
(I will not touch upon the most significant political-socioeconomic issue which is income inequalities, because Islam accepts a society composed of very rich classes living side by side with very poor classes- examples can be found from history or from today’s Muslim countries like Saudi Arabia, and Iran). While some Islamists continue to claim the existence of “Islamic economics,” they have failed in producing anything close to a simple theory of economics.
I believe that the main reason for the downfall of Muslim civilisation was the inherent social crisis: a society composed of few rich surrounded by the poor masses kept going by a strong religion. Social and political revolutions took place several times during the heyday of Muslim civilisation, as happened during the Umayyad Caliphate, the Abbasid Caliphate, in Muslim Spain, and the famous Zanj Rebellion during the year 869 in Basra. But historians have ignored such revolutions. Muslim economies have failed throughout history to solve the very basic problem: the wage equation. Unskilled and skilled workers were downgraded to the lowest classes in Muslim societies, and were paid the minimum. History has showed that under Islam the wealth of the country went mainly to the Calipha, feeding his palace, army, the royal family, and to the vested interest that the Calipha has chosen himself. The tax system was mainly imposed on the agricultural sector, what was known as the produce tax (Kharaj).
“Islamic economics” is a term used today to justify the significant income inequalities in such societies and to find religiously- accepted investment opportunities for the rich. …