Succession function and capital accumulation in the Islamic economic system

Abstract

The legal basis of societies formed the cornerstone of the economic structure, through which individuals can organize their economic activity in accordance with the legal basis that they believe in and follow, so we find that liberal society always seeks to care for private freedom and respect for individual property in order to reach the levels of optimal use of material resources And humanity through the two categories of innovation and monopoly, while we find that the socialist society always seeks to nurture social freedom and respect for social property, in order to reach the levels of optimal use of financial and human resources through the planned and centrally controlled economy by the state. As for the legal basis adopted by Islamic and Arab societies in particular, it suffers from a blur and lack of clarity of vision because it is linked to the institution of governance and its view of the legal basis of its societies. Therefore, in most cases, the institution of governance chooses the form that suits its own interests first, then the interest of its societies second, and it oscillates between caring for private or public ownership. The legal foundation of Islamic and Arab societies must pass through the doctrine of succession, given that succession is the most distinctive human statement in the Islamic society, and it is the saying that is capable of preserving Islamic identity while taking into account global changes in economic approaches, as the essence of succession is the building of the land that God entrusted It contains everything a person needs as long as the heavens and the earth exist. The fruit of the succession theory becomes clear when looking at the economic problem, which liberal thought defines with the saying of scarcity. consumerism, which led to the spread of the concept of a free intercontinental economy. Socialist thought identifies the economic problem with the argument of the contradiction between the form of social production and the form of individual distribution, and that the solution lies in the spread of the concept of social ownership, which in turn leads to a planned economy capable of displacing monopoly. As for the Islamic economic thought, it identified the economic problem after which it is a two-dimensional problem that unites in the misuse of the material resource as well as in the misdistribution. Because the concept of scarcity collides with the Almighty’s saying: “And We have established you in the earth and made for you a means of subsistence therein” and the Almighty’s saying: “There is no animal on the earth except that its sustenance is on God, and He knows its resting place and its storehouse, each in a clear book.” And the Almighty’s saying: “Is not God sufficient for His servant?” Restricting ownership to social ownership for the purpose of getting rid of misdistribution, as it kills the individual motive, and it is an element that cannot be overlooked in any economic process because it violates human nature. The treatments of Islamic economic thought start by activating and increasing the accumulation of capital, because the accumulation of capital means an increase in investment, and the increase in investment leads to human and material development in a transcontinental economy that is disciplined by the concept of succession in order to preserve the moral and ideological aspect of the Islamic economy. Our choice to demonstrate the function of succession and the accumulation of capital in the Islamic economic system is intended to demonstrate the extent of congruence in the technical perspective between the Islamic economy and other man-made economies, and the extent of the separation of the Islamic economy from the man-made economies in the ideological and moral aspect. The research included three demands, the first of which came under the title of succession, and the second came with the title of capital accumulation, while the third was entitled with the title of the Islamic economic system, then we wanted the research with a conclusion that included the most prominent results and recommendations. And from God is success.