Islamizing The System of Economy: Solution Toward An Economical Welfare For The Islamic Landscape

Abstract

This paper attempts to offer Islamic economic system as the solution of the actualization of the
economic welfare of ummah. It went from the failure of the capitalist economic system
(capitalism) and socialist economic system (socialism) that causes the global crisis, even the fall
of a country. The topics in the paper discusses in depth related to the cause of the failure of the
capitalist economic system (capitalism) and socialist economic system (socialism). Next, author
perform related in-depth analysis of the Islamic economic system is concerned with
the construction of the economic system of Islam; comparison of the characteristics of economic
activities that based on Islamic values with non-Islamic-based economic activities; comparing
the capitalist economic system, socialists and Islam; social institution in the Islamic economic
system as a solution to alleviate poverty; and the implementation of Islamic economic
system that cause the achievement of the financial system stability.