Economy, Side Feature, The Khilafah

The Darkness of Capitalism continues because of the Absence of a Khilafah System Opposing it

Just when the dust began to settle after the 2008 Global Financial Crisis which knocked over financial institutions all across the globe. Some observers, long before Covid-19’s devastating effects on the global economy, were expecting another imminent economic crisis which would be more devastating than the one before. And they were right with their prognosis.

This prediction however could have also been made by the greengrocer on the corner, may be not from a scientific point of view but from mere live-experience. Because the burden of economic or financial crises is regularly on the shoulders of the common men, and there have been many. On average, a middle-aged man has witnessed dozens of crises in his lifetime, some affecting him more than others.

The Capitalistic economic system causes crisis and it’s an inseparable part of its DNA. The history of Capitalism has been marked by repeated collapses of the financial system, from 1819 on, there have been a succession of failures of banks and other financial institutions.

That’s why economists started to develop models in order to try to understand financial crises in the 19th century, like Karl Marx and John Steward Mill, among others.

So, to presume that the Capitalistic system will collapse in the aftermath of the combat against the Covid-19, is not realistic, even if it turns millions of people’s life’s in to hell. As long as there exist some kind of trust in the system or more importantly just a lack of a solid alternative, and people continue to take their concepts, criteria and convictions from the ideological foundation of the system, which is the separation of religion of life. This system will remain standing, how corrupt and false it may be. Otherwise Firawn’s and Nemrud’s or Abu Lahab’s jahilliya systems would not be able to exist as long as they did. As long as there is no Musa (as) or Ibrahim (as) or Muhammed ﷺ challenging and opposing the falsehood and tyranny, the systems of evil will remain. That’s why Allah (swt) said: وَقُلْ جَاءَ الْحَقُّ وَزَهَقَ الْبَاطِلُ إِنَّ الْبَاطِلَ كَانَ زَهُوقًا “And say: The truth has come and the falsehood has vanished; surely falsehood is a vanishing (thing).” [Al-Isra: 81]

In the Muslim world, we should make use of this immense fragility of the corrupt Capitalistic system and challenge it and build the trust for the Khilafah system (Caliphate) which was dominant throughout our long history and was able to take care of our needs without these systematic flaws and exploitation of its people and the people of the world.

When the Islamic rule is established by a Khilafah State and the Ummah, our resources and our power is united, then people will see and feel that there is a much better alternative to run their affairs. Only the existence of a Righteous Khilafah can bring Capitalism down and can bring the people from the darkness of evil in to the Light of Islam.

إِذَا جَاء نَصْرُ اللَّهِ وَالْفَتْحُ وَرَأَيْتَ النَّاسَ يَدْخُلُونَ فِي دِينِ اللَّهِ أَفْوَاجًا

“When there comes the help of Allah and victory. And you see people entering Allah’s religion in multitudes” [An-Nasr: 1-2]

 

Okay Pala

Media Representative of Hizb ut Tahrir in The Netherlands