In this Book Reading Task, we explore the concept of “Beyond the Extremes” by examining the differences between dominant economic systems and the Islamic Economic System.
Modern economic thought is often shaped by competing ideologies that lie at opposite ends of the spectrum. While some systems prioritize individual wealth and market freedom above all else, others emphasize collective ownership and centralized control. This session explores how the Islamic economic framework offers a balanced alternative—one that seeks to harmonize individual rights with social responsibility, economic freedom with moral accountability, and wealth creation with justice.
Through the book reading and discussion, we reflect on the strengths and shortcomings of various economic models and examine how Islamic principles address issues such as wealth distribution, ownership, trade, social welfare, and economic justice. The session encourages a deeper understanding of how Islam provides guidance for building a fair and sustainable economic order.
???? In this session, we discuss:
✅ Key characteristics of major economic systems
✅ The limitations of capitalism and socialism
✅ The foundations of the Islamic Economic System
✅ Balance between individual rights and societal welfare
✅ Economic justice, wealth distribution, and ethical responsibility
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