Interest based economy vs interest free economy

Interest based economy vs interest free economy - Printable Version

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Interest based economy vs interest free economy - peaceandlove - 03-08-2009

i am currently doing a research/study on "interest based economy verses interest free economy" , so i want some link/resources about that topic . i am particular looking for a study to show how Islamic economy models works best.

Can you please suggest some links for that.

Thanks

- Toronto_Boy - 03-08-2009

Dear peaceandlove

If you know any interest free economy in todays world, then probably we can compare the two. Comparing characterstics of one existing system with hypothetical and non-existent system would not be a reasonable attempt.

Regards

- CFANerd - 03-09-2009

Try Khilafa.com. There are a few books there on the state of modern economy and reason behind it's failure and the analyst Adnan Khan has presented his idea of Islamic economic system free of interest. It isn't on a very broad scale but once you know the fundamentals of both, you can compare them better. Watch current discussions on people arguing over socialism and capitalism and alternative to both economic systems. You can find a few over youtube.

- awaisaftab - 03-09-2009

Economies of Saudi Arabia and Iran are interest free economy but not completely. Islamic economists have defined the characteristics of Islamic or Interest free economy in details. I have provided a link about an urdu book of Maulan Maududi in my topic Islam and Modern Economic Theories download and read the book.
Regards.

- Toronto_Boy - 03-10-2009

Dears

I have listened about Saudi Arab and Iran several times from many educated people. I am not pointing out any of you here. Could someone shed some light how banking system works in two countries? What is the motivational force that spur economic activities specially in financial sector? How do banks perform inter-bank transactions? How their foreign trade sector works i.e. how do they deal with foreign banks/ firms/ businesses etc.? What do they charge on over due payments? How do they regulate economic activity and money supply?There are many more questions one can think.

Yes, we should respect whatever efforts are being done in Islamic countries which are trying to develop systems/ procedures/ products based on Islamic principles and acceptable to Muslims globally. But to date these are in initial stage. What their percentage share is in worlds economy, banking, finance and trade? Can partially developed products be presented as fully developed system and be presented as alternative to ailments of existing system. Writing books is different and developing fully tested system is much more than that. How can we compare hypothetical concepts written in books with fully operating system. At-least develop a complete alternative, working, fully tested, and generally accepted system to masses and then compare the two. Otherwise, it would be like comparing a student who just have passed grade 12 with fully designated accountant with 35 years (or many more) of experience.

Though there are many demerits, but capitalism, socialism, or communism etc. are fully existent and working systems. So, first develop a fully workable system and then compare. It is just like Indians, whose fighter jet aircraft is still on papers for last 35 years or so, compare qualities/ advantages of that aircraft all the time with Pakistani/Chinese made JF17 Thunder which is fully developed, flying and operational. Is this comparison a reasonable effort? Offcourse not.

Please do not take a false impresion after reading this post.

Regards

- Tango - 06-14-2010

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by peaceandlove
 i am currently doing a research/study on "interest based economy verses interest free economy" , so i want some link/resources about that topic . i am particular looking for a study to show how Islamic economy models works best.

Can you please suggest some links for that.

Thanks
<hr height="1" noshade id="quote"></blockquote id="quote">
[8D]
Interest based eonomy-
lets take out our country's example''
Banking system accumulates the money from people/individuals/country-
then bank forward these accumulations with interest as a loan to manufacturing/mostly MNCs/business units,-
MNCs/business units, runs its business by combining factors of production and perform an economic activity/earn sale proceeds or profit-
during this the business unit put this loan and interest in the cost of product which have ultimately paid by end consumer(as 80%greeb awam)-
thus business unit extracts the loan+interest from consumers and remit back to banking sector- interest is the major part of banking income which is ultimately paid by consumers-

---''''summarizng=banking+MNCs/business units use the accumulations of consumer for production and also extracts the interest amount from consumers/awam and awam ko pta bi ni chalta ka unka sarmya bi as a capital use krtay hain aur un say interest bi product-price ma la latain hain''
what a mechanized exploitation process!

But que for charterd accountants/professio[)][)][D][D][8D]nals z that how this -ve aspect could be removed n only benefitial aspects of business units/banking should allow to operate in the human friendly economy???[)][D]
effects on economy-
Increase in price level
Decrease in income level
Decrease in purchasing power
Recession becuz consumer market must effect the production sector
as decrease in income level consumption of production would fall=
ultimately loss to awam/consumers and business community
evdence=current recession in pak,all world..

but look the chinese economy..??wake up professionals

- jerryvn01 - 06-30-2010

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Toronto_Boy
 Dear peaceandlove

If you know any interest free economy in todays world, then probably we can compare the two. Comparing characterstics of one existing system with hypothetical and non-existent system would not be a reasonable attempt.

Regards
<hr height="1" noshade id="quote"></blockquote id="quote">

Hi everybody,

I uploaded one file. But It can not display. I used internet explorer 8.0.

How can I repair? Or some problems happened to IE8?

Rgs

- moorean - 09-09-2010

What are the chances of breakout of CRGE?
please also comment about it.

- MorganNick - 02-23-2011

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by moorean
 What are the chances of breakout of CRGE?
please also comment about it.
<hr height="1" noshade id="quote"></blockquote id="quote">

Hi moorean

I am not much clear on CRGE.can you expand it's full form?

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