Twilight of the Capitalist System

After the collapse of socialist systems, the capitalist system is estimated to be shrinking. Limit signs in his end of the capitalist system can be seen from increase credit derivatives, from Rp. 500 trillion in 1998, to Rp. 24 000 trillion at the end of December 2002. Not to mention the amount of bonds that default to USD. 1650 trillion, an amount far greater than the number of bond defaults during the previous 20 years. Ready to fall with this system or looking for an alternative system?Long-concept and this capitalist system into the spotlight, since Karl Marx and his followers, other socialist thinkers like EF Schumacher, Soedjatmoko, DR Scott, Islamic economic thinkers such as Umer Chapra, Prof. AD A Manan, Masudul A. Choudury, Najetullah Siddiqi, until the flow breakaway capitalists like Joseph Stiglitz, Paul Ormerod, Lester Thurow, Kevin Phillips to name a few names.

This system is increasingly the subject of rethinking again after some recent corporate scandals which produces peak Sarbanes Oxley Act of 2002 Corporate. So far the U.S. government's concern is to improve the technical aspects of the capitalist system, not philosophy, so do not be surprised if the crisis after economic crisis will continue to repeat.

Capitalist economic crisis since the beginning until now this has happened, say, for example, economic crisis 1930, 1960, 1980, 1999, 2001 with a variety of triggers and its magnitude. So far only the technical aspects improved. Take for example the crisis in 2001 with the emergence of cases of Enron and others that there is a crisis of confidence caused by the accounting scandals and ethics among management and professional (accountant and analysis), which manages corporate America. They are working together strategically to reap benefits from the existing system.

American response is to add such regulations already lot. Based on the Sarbanes Oxley Act of 2002 as the Corporate will be established Oversighat Public Corporation Board. But unfortunately in filling posts that have attracted controversy because of the attraction between political elites and parties concerned.

William Webster who has been appointed to fill the Accounting Oversight Board had resigned on 11 November. Even the integrity and independence of the current SEC Chairman Harvey L. Pitt no doubt because of its proximity to the accounting industry.

This situation illustrates how the capitalist system is actually very vulnerable to things that humans are caused by greedy desires a real human being in an Islamic economy is set up in such a way that the greed of human beings and all desires should be subject to the interests of a more noble and more enduring is not instantaneous or one-sided interests.

Capitalist system itself will repeat old mistakes and keep repeating, if the nature, philosophy is not repaired. The nature of capitalism was from the beginning was not "balanced", not fair. Because of the vision and mission only prioritized the "owners of capital." Owners of capital as an activator, initiator, leader, and also as recipients of an automatic blessing. Other parties such as labor, professionals should be under the shade

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