Religious views on capitalism

Religious views on capitalism have been philosophically diverse, with numerous religious philosophers defending the natural right to property, while simultaneously expressing criticism at the negative social effects of materialism and greed.

Christian views

The Protestant Ethic and the Spirit of Capitalism

The Protestant Ethic and the Spirit of Capitalism (particularly Calvinist) ethic influenced large numbers of people to engage in work in the secular world, developing their own enterprises and engaging in trade and the accumulation of wealth for investment.

Christian socialism

The first socialists drew many of their principles from Christian values (see Christian socialism), against the bourgeois values of profiteering, greed, selfishness and hoarding. Liberation theology is a school of theology within Christianity, particularly in the Roman Catholic Church. It emphasizes the Christian mission to bring justice to the poor and oppressed, particularly through political activism. Its theologians consider sin the root source of poverty, the sin in question being exploitative capitalism and class war by the rich against the poor. In the U.S., in response to increased ideas of capitalist ideas and Social Darwinism, the Social Gospel was pursued, calling on protections of people against perceived threats from industrialization.

Muslim views

Legislation against riba

Usury or riba is prohibited, and religious law encourages the use of capital to spur economic activity while placing the burden of risk along with the benefit of profit with the owner of the capital. A 2.5% alms tax (Zakat) is levied on all gold, crops, and cattle.

Opposition in Egypt and Iran

Sayyid Qutb denounced capitalism in The Battle Between Islam and Capitalism, published in 1951.[1] The Islamic constitution of Iran which was drafted by mostly Islamic clerics (see the Assembly of Experts) dispraises the "materialist schools of thought" that encourage "concentration and accumulation of wealth and maximization of profit."[2] Malcolm X was also critical of capitalism [3]

References

  1. ↑ Sayyid Qutb
  2. ↑ ICL - Iran - Constitution
  3. ↑ From Civil Rights to Black Liberation: Malcolm X and the Organization of Afro-American Unity, by William W. Sales, South End Press, 1994, ISBN 0-89608-480-9, pg 85
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