Compare between Islamic system and the global economic system

Comparison between Islamic and the Global Economic Systems

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Abstract

The current market economy has made it possible for banks to play a very critical role in the world economy . Failure of business in larger banks therefore , has the potential to affect business trends in the wider market system . The system has become so globalized that a credit crunch today has the capacity to send ripples throughout the whole world economy

Thus , in no time , a global financial crisis easily turns into a

global economic crisis . Terms like global job crisis and recession are now commonplace , whether in an industrialized or a developing country . In the free market ideology employed by the current global economic system `when a major world economic power sneezes , the rest of the world catches the cold . This paper will discuss in detail the issues pertaining to the current global economic system , global economic crisis and its causes . Further , it seeks to discuss the Islamic economic system , and make a comparison between the two to draw relevant conclusions

Table of Contents

TOC \o "1-3 " \h \z \u HYPERLINK \l "_Toc7 " Abstract PAGEREF _Toc7 \h 2

HYPERLINK \l "_Toc8 " Table of Contents PAGEREF _Toc8 \h 3

HYPERLINK \l "_Toc9 " 1 .0 Introduction PAGEREF _Toc9 \h 3

HYPERLINK \l "_Toc0 " 1 .1 The global economic system PAGEREF _Toc0 \h 3

HYPERLINK \l "_Toc1 " 2 .0 The causes of global financial crisis PAGEREF _Toc1 \h 4

HYPERLINK \l "_Toc2 " 3 .0 The Islamic economic system...