Libertarian’s thought on Islam, it can potentially be the most economically libertarian religion.
Hi so I wanted to know what you guys think (no hate, just a academic question). So here is why Islam is economically libertarian in my opinion. Business/Trade is seen as the most noble profession, as the prophet himself was a trader. Islam does not impose high taxes on income (only Zakat which is considered a welfare charity is applicable, it can be given to any Muslim the state does not have to get involved). That is why gulf states don’t have income tax. Many things are prohibited in Islam but immigration is not. Hijra (migration) is seen as a holy act, so technically going to other countries/spreading wealth/knowledge is considered good. Islam does not support Usury/Fixed Interest based lending. Promotes equity based investing or taking the risk of the business. This is pro-libertarian in the sense that being the risk-taker you are entitled to all rewards of that risk Your assets are your own, it is against Islam to take someone else’s private property. Since, Islam interest is banned, a fiat currency based system is not desirable. As fiat always devalues by design. Money printing or debasing the currency is not allowed. Employment Contracts are between the employer & employee. The state is not prescribed to tell a minimum wage etc. That is why gulf states don’t have minimum wage. These are the points that came to my mind. I am interested in the topic & also interested in libertarianism especially the economic side. submitted by /u/phicreative1997 [link] [comments]
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