1. 1/2/2014
Capitalism: of the rich, by the rich and only for the rich
Saturday Feb 01st
HOME
ABOUT US
THE KHILAFAH
ANALYSIS
CONCEPTS
NEWS WATCH
ACTIVISM
MULTIMEDIA
RAMADAN
Capitalism: of the rich, by the rich and only for
the rich
K.COMMENT
Search
Text size
CONTACT US
News Watch
New Articles
Structure
Abbas blew his cover
and confirmed that he
Syrian officials tell
and his Authority are
British doctor's mother:
agents
'we killed your son'
Capitalism: of the rich,
Egypt arrests 11
by the rich and only for
Islamist Facebookers
the rich
If only Tony Blair could
UK Government Arrests
grasp the truth about
Muslims for Supporting
Field Marshal Sisi
the Ummah in Syria
Christian militias hunt
Despite the global economy reaching $72 trillion, the largest in world history and global trade worth $36 trillion,
(again, the largest in world history) never have so few been so rich and never have so many been so poor. The
Oxfam report is a chilling reminder of the depths of wealth inequality across the globe; widening inequality has
created a vicious circle where wealth and power is concentrated in the hands of a few, leaving the rest to fight
over crumbs.
Children, and Family
standards
• In Europe, austerity has been imposed on the poor and middle classes under huge pressure from financial
markets whose wealthy investors have benefited from state bailouts of financial institutions.
Country's Women,
authorities of double
• In the US, years of financial deregulation directly correlates with the increase in the income share of the top one
per cent, which is now at its highest level since the eve of the Great Depression;
Consequences for the
Thai Muslims accuse
• The richest 85 people across the globe share a combined wealth of £1trillion, as much as the poorest 3.5
billion of the world's population.
Disastrous
mathematicians'
The release of Oxfam's report on global inequality: 'working for the few,' reveals a number of damming
indictments upon capitalism and the developed world. Some of its findings are startling:
Constitution Carries
talks began
golden age for Muslim
ADNAN KHAN
Tunisia's New
Syria since Geneva
'9th, 10th centuries
THURSDAY, 30 JANUARY 2014 19:10
Nearly 1,900 killed in
The Ruling System in
down Muslims in CAR
Sudan Talks about
capital
Reform but is Afraid of
The disturbing parallels
Messages Distributed to
between Syria's civil war
People calling them to
and Spain in the 1930s
Truth and
'I want justice': Islamist
Righteousness!!
cleric threatens to
Another Failed Attempt
boycott retrial in Jordan
from the Afghan
HRW: Assad razed
Intelligence Agencies to
homes to 'punish'
Slander Hizb ut Tahrir
civilians
Al-Maliki Hastens to
Capitalism has failed in distributing wealth in any equitable manner. Even in the birth place of Capitalism and
today's epicentre, Europe and the US, wealth distribution remains a massive failure.
The dogmatic views of the free market and economic growth relegated wealth distribution to the invisible hand
that only liberals can see, the rest of the world, since such ideas were presented in 1778 by the god father of
capitalism, Adam Smith, still await the fruits of this obscure process. The trickle-down effect which was meant to
make wealth flow from the top to the bottom remains as elusive as ever and is in fact worse today then Victorian
Britain.
Tear Iraq into Rival
Entities by Implementing
the Plans of his Masters
Q&A: Does the
Punishment in this
World Expiate the Sin on
the Day of Resurrection?
Demo in Jordan: Reject
the Geneva Conspiracy,
the Tyrannical System
and Treacherous
Coalition
Richard Robbins in his award winning book 'Global Problems and the Culture of Capitalism' confirmed this
when he said "The emergence of Capitalism represents a culture that is in many ways the most successful that
has ever been deployed in terms of accommodating large numbers of individuals in relative and absolute
comfort and luxury. It has not been as successful, however, in integrating all in equal measure, and its failure
here remains one of its major problems."
Warm Call to the
One of the main reasons for this economic inequality is because the rich have huge influence upon political
leadership and political institutions. These have become undermined as governments overwhelmingly serve the
interests of economic elites to the detriment of ordinary people.
Hasina by Providing
The Oxfam report recognizes the curse of capitalism – money and politics, "Since the late 1970s, weak regulation
of the role of money in politics has permitted wealthy individuals and corporations to exert undue influence over
government policy making."
It is money that should have been separated from politics rather than religion.
http://www.khilafah.com/index.php/the-khilafah/economy/17992-capitalism-of-the-rich-by-the-rich-and-only-for-the-rich
Sincere Officers in the
Military: Free the
Oppressed People from
the Tyranny of Tyrant
Nusrah to Hizb ut-Tahrir
in Establishing the
Khilafah
From KComment
The General's Burden
1/3

2. 1/2/2014
Capitalism: of the rich, by the rich and only for the rich
The rich have been able to preserve such a status quo as the lowest tax rates, the best health and education and
Lessons from Nelson
the opportunity to influence are handed down to their children. Without a concerted effort to tackle inequality, the
cascade of privilege and of disadvantage will continue down the generations. Economic growth today amounts to
Mandela's Struggle
little more than a 'winner takes all' windfall for the richest."
New beginnings
Capitalism has no solutions to wealth distribution, more economic growth, changing tax regimes and tackling tax
Slavery and Soccer -
avoidance are merely skirting around the real issue. This is a systemic issue and merely reforming capitalism
will just perpetuate the problem. Despite describing the inequalities of capitalism, even Oxfam accepts the sad
Qatar's heresy
realities of capitalism, "Some economic inequality is essential to drive growth and progress, rewarding those
with talent, hard earned skills, and the ambition to innovate and take entrepreneurial risks."
things the US is
Capitalism only has one view towards wealth distribution, namely leaving it to the free market. A number of
countries seeing the failure of the invisible hand have turned to the visible hand of the state and have achieved
mixed results. It has been over two decades since the collapse of the Soviet Union, when liberals celebrated
capitalism's unilateral position. This was however a false dawn as the inefficiencies of communism merely gave
way to the very efficient capitalism – for the rich only. Capitalism has no doubt created immense wealth, but it
should also be certified with enriching so few whilst condemning so many to a life of misery.
History, Muharram and
US Exceptionalism: 10
exceptional at
Egypt and Syria: Tricky
Debate with Brother
from the Muslim
Brotherhood
When “Islamism”
Becomes an Opium
The West Turns Malala
In order to maintain the status quo governments on behalf capitalist elites have offered scraps to the wider
public. The minimum wage is an example of this with the debate on raising the minimum wage in the UK
paradoxically being led by the right who would be expected to be against such interventionist polices.
Yusufzai into a
Phenomenon to Further
its Own Interests!
Intellectual discourse is also dominated by free market liberals and this has ensured alternatives have little air
time and presence. Despite the worst recession since the great depression liberals have continued to argue that
New (Naya) Pakistan or
capitalism is the best system on offer. Similarly, with the collapse of communism nearing its 25 anniversary, the
failure of communism is still present in the minds of many people. The victory in the Cold War for many is proof of
Underemployment: So
capitalism's superiority be it political, social or economic.
despite the Downturn?
more of the same?
Many People in Work
Capitalism's Achilles heel is its inability to distribute wealth equitably which has only got worse since the demise
of communism. Thus hope only lies Muslims and Islam. We as an Ummah need to realise this and take up that
challenge.
َ ‫ﻟﮭ‬
‫و َﺣ ﱠﱠذ َ ُ ِﻣَُ ُ ﻣ َِﻠ ُو ًَُْۖو ﺷَۖ ُ ُون ﻣﺎ ُوا ﺑﮫ ﯾوم‬
‫ﺑ‬
‫ْ َ ﻟﮭ‬
‫ﯾﺑ‬
ْ ِ ِ َ ‫َ ﯾ ﺳﺑ ِ ﯾن َ ﻠون ﺑ ﺗﺎھ ﱠ ْ ِ ھ ﺧﯾ ُم ﺑ ھ ﱞ ْ َ ﱠ‬
َ
َ
َ ِ ‫َ ﻻَْن اﻟَْﺧََ ﺎ آُم ا ِ ن ﻓﺿ ﮫَ ْرا َْلََرُم ﺳﯾطوﻗ ََﺧﻠ‬
ََُ‫َ ۗ ِ ﻣﯾراث ﱠﻣﺎو ََر ۗ ﱠ‬
ْ ‫ْﻘﯾﺎﻣﺔ ﱠ َُ اﻟﺳَ ات‬
‫َ ِ و ْ ض وا ِﻣﺎْﻣﻠون ِﯾر‬
‫ﺗﻌ َ ﺑ‬
‫اﻟَ و‬
ِِ ِ ِ
ٌ‫اﻷ ِ َ ُ ﺑ َ َ ﺧ‬
َ
"Those who are tight-fisted with the bounty Allah has given them should not suppose that that is better for
them. No indeed, it is worse for them! What they were tight-fisted with will be hung around their necks on the
Day of Rising. Allah is the inheritor of the heavens and the earth and Allah is aware of what you do."
(Aal-Imran, 3:180)
Hits: 818
Email This
Bookmark
Set as favorite
Trackback(0)
TrackBack URI for this entry
Comments (0)
Subscribe to this comment's feed
Write comment
Nam e
Em ail
Title
Com m ent
http://www.khilafah.com/index.php/the-khilafah/economy/17992-capitalism-of-the-rich-by-the-rich-and-only-for-the-rich
2/3

3. 1/2/2014
Capitalism: of the rich, by the rich and only for the rich
smaller | bigger
I have read and agree to the Terms of Usage.
Write the displayed characters
Add Com m ent
Next >
Contact Us
http://www.khilafah.com/index.php/the-khilafah/economy/17992-capitalism-of-the-rich-by-the-rich-and-only-for-the-rich
3/3