Islamizing The System of Economy: Solution Toward An Economical Welfare For The Islamic Landscape

Abstract

This paper attempts to offer Islamic economic system as the solution of the actualization of the economic welfare of ummah. It went from the failure of the capitalist economic system (capitalism) and socialist economic system (socialism) that causes the global crisis, even the fall of a country. The topics in the paper discusses in depth related to the cause of the failure of the capitalist economic system (capitalism) and socialist economic system (socialism). Next, author perform related in-depth analysis of the Islamic economic system is concerned with the construction of the economic system of Islam; comparison of the characteristics of economic activities that based on Islamic values with non-Islamic-based economic activities; comparing the capitalist economic system, socialists and Islam; social institution in the Islamic economic system as a solution to alleviate poverty; and the implementation of Islamic economic system that cause the achievement of the financial system stability.

Keywords

• Islamic economic system, welfare, and poverty.