Assigment: identify the adjective by underlining the word
capitalism is falling us all. could islamic economics be the answer?
Billionaire Ray Dalio, manager of the world's largest hedge fund Bridgewater, recently shocked the world when he announced that "capitalism is falling" and that a "revolution" is coming.
there is no denying that global inequality is at unsustainable levels, and that interest-based economies are no longer fit for purpose ( in many countries interest ates are too low to incentivise saving at all).
believe that islamic economics, with its 2.5% zakat tax (and much lower taxes in other areas) might give us a clue on how to eliminate the worst social inequality. and with a prohibition of abusive high-interest businesses and the incentivisation away from interest-based savings accounts, it can reinvigorate the global economy. these are not just islamic economic concepts; these are universalist ttraditional Abrahamic ethics, and a common sense way for us all to enjoy a truly free market.
once we strip away the arabic terminology, concepts like zakat can return our economies to the commong sense-bassed, transparent and equitable set up that the architects of modern capitalism envisaged.