Should Education Be the Responsibility of the Individuals, Society or the State

Distinctive feature of an Islamic system:

Philosophical foundation: The philosophical foundations of an Islamic economic system originate from god, the creator of human being and universe. In an Islamic economic system, human beings as the servant of One God, use scare economic resources in the best possible ways to maximize the material and non-material well-being in this world and the world hereafter.

Nature of man and his function: Conventional economic systems (especially capitalism) assume man inherently selfish. In capitalism, self-interest is considered the way of maximizing the welfare of the whole society. According to the Islamic worldview, human beings are created as servant of God and vicegerent on earth. God entrusted them with His resources and asks them to extract their benefits from the resources created by Him. Therefore, man is allowed to satisfy his individual needs but his self-interest has to be within the limit of Shari’ah. Islamic role of the game are the controlling mechanism of man’s self-interest. An Islamic economic system propagates that everyone can, and should, contribute to create a better Islamic society. In short, man has to consider not only him but others as well.

Extend time horizon: an Islamic economic system does not limit the outcomes of economic activities only within this material world. The Islamic worldview recognizes the existence of the hereafter. Therefore, all human economic activities should aim at both this world and the world after. In fact, economic activities in line with the principles of Shari’ah will work towards the welfare in both worlds.

Relative ownership of property: according to the Islamic worldview, God has created everything in this world, so Hi is the absolute owner of all these resources. Man can own property but not absolutely. Private ownership is acceptable by Shari’ah in the use of economic resources. Public property is also a legitimate form of ownership.

The concept of Shura: decision...