Dear Mr. jawaid,
You wrote: A Zakat based system, not a capitalist one; keeping the wealth circulating amongst the majority (all) and not the 1%. The Zakat is given to the people to use, not put in vaults (Fort Knox, Bank of England) and is 100% based on trade with physical goods, not numbers in a computer.""""
Perhaps you forgot to mention, how to be able to pay Zakat. I feel you like socialism in the name of Islam. State to provide every thing but how , you don't know.
I am not very good with words, like you are. call me a word Joe. ( a term for ordinary guy). But i try.
You are an idealist, you have great desires for a just, well off society, good wishes etc, etc, not that any thing wrong with it, but so far , no better system has evolved than entrepreneurship. All other systems like monarchies, communism, socialism have failed, as i mentioned before in my last post.
At least you will agree with that. I don't say that its the best system ever, but its the best we have so far.
I am very confidently saying that Islam is capitalism and capitalism is Islam. But since you are allergic to this word, i will call it now " Entrepreneurship". Quran repeatedly appreciates Trade, travleing, inter merchandising, haj congragation( the real purpose is human Integration), marketing after salat, honesty in sale, etc.
Why. is it not entrepreneurship. it is very much. It tells you that when populations will be in billions and not in thousands, then Khilafat based mini system wil not work.
Quran orders every one to pay Zakat, How can you pay, if you are yourself poor. So to fulfill this command, first, you have to be well off, other wise you will be a taker and not a giver. Now what muslim are in general. kindly let me know.
In recent times, there are two major upcoming examples. China, India and some S.american countries. They have improved I/C ( Incom per capita). How , factories, trade. etc.
Generaly muslims are desirous people, looking for great society and perks, Alhomdillah, Mashallh, but very opposite on working hard. Enterpreneuship is hard working, but it has fruits. You have to work in Antartica below sub zero or in 150F deserts for oil. Then you get rich. Its the entrepreneurship, which make companies work and roll the dice.
Look at many western countries and their social sectors, like Canada, European communities, they have great state based social services and at the same time, they are very much capitalist countries. At least they are better than so called muslim states, where state does not even provide a free aspirin to patients.
Your desires, dreams, wishes for an ideal society are great, but its not going to happen, unless you go into competitive enterprising and a free democratic society.
Not that any thing wrong in dreaming. You can have any.
( By democracy, i don't mean like Pakistan, Nigeria, Ghana and Afghanistan, where dictators wear robes )
As for as economies are concerned, mulsim never have economist or literate scholars, the issue of INTREST is still alive since 1500 years. In entire muslim world, this issue is still confusing every mulsim. how to, where to, whom to etc. Evey muslim is doing some thing, which is making him either guilty or carefree.
Dr, S.A and many are explaining interest isue, every now and then in forums and media, but it wont be solved, unless an international muslim leadership or banking community sits together( Preferably at haj time), so that a long term problem can be solved as per present world and not as per 100H era. But it wont happen, So far, they never learned to sit ogether, how can they talk on such big issues. Reason. Firqaas, Mullah, Shariats, kingdoms etc and what not.
So finally they have accepted western interest based financial system and entrepreneurship as in present form. You can't live outside global community.