Journal of Economicate Studies
Vol. 8 No. 1 (2024): Journal of Economicate Studies

Contrasting Capitalist and Sharia Economic Systems: A Comparative Inquiry into Core Economic Values

Hafidz, Dzarin Gifarian Khaulani (Unknown)



Article Info

Publish Date
20 Jun 2024

Abstract

This study offers a comparative analysis of the ethical, institutional, and distributive foundations of capitalist and Sharia economic systems. While capitalism emphasizes market efficiency, individual freedom, and profit maximization, Sharia economics prioritizes divine accountability, social equity, and moral purpose. Drawing on conceptual literature and policy analysis, the research highlights the divergent ethical logics, governance mechanisms, and wealth distribution strategies of each system. Capitalist institutions reward market productivity but often generate inequality and value-neutral governance. In contrast, Sharia-based institutions operationalize justice through instruments such as zakat, waqf, and profit-sharing contracts, embedding ethics into economic life. The study contributes a refined framework for evaluating economic systems based on values and justice, offering both theoretical insights and practical implications for policy and development. This research underscores the urgency of rethinking global economic models in an era of deepening inequality and ethical fragmentation.

Copyrights © 2024






Journal Info

Abbrev

joes

Publisher

Subject

Economics, Econometrics & Finance Education Other

Description

Journal of Economicate Studies (JoES) is a publication dedicated to and focused on the scholarly study of all aspects of Economicate studies. This journal receives articles from lecturers and researchers who have the new and progressive issues on scholarly study of all aspects of Economicate ...