Ownership (al-Milkīyah) and Human Behavior: A Comparative Analysis of Islamic Economics and Capitalism

Arroyyan Ramly; Iskandar Ibrahim

doi:10.71039/istifham.v4i3.224

Authors

Arroyyan Ramly Istanbul University, Istanbul, Türkiye
Iskandar Ibrahim Universiti Brunei Darussalam, Brunei Darussalam.

DOI:

https://doi.org/10.71039/istifham.v4i3.224

Keywords:

comparative , Ownership, Islamic Economic, Capitalism, Human Behavior

Abstract

This study compares the concept of ownership from Islamic and capitalist perspectives, focusing on human behavior and morality in the ownership (al-Milkīyah) of wealth. Employing a descriptive-analytical method, this study examines academic papers retrieved from Scopus and Google Scholar. Our data collection utilized the keywords "Islamic Perspective of Ownership" and "Human Behavior". The analysis reveals that, in capitalism, wealth is viewed as an individual right aimed at maximizing personal satisfaction and profit through the free market. This perspective often overlooks moral values and social responsibility. In contrast, Islam views wealth not as an absolute right but as a trust from Allah, which must be managed responsibly, prioritizing justice, equality, and social responsibility through instruments such as zakāh and sadāqah. Furthermore, in Islam, humans are viewed as stewards (khālifah) of the earth, with a duty to balance personal interests with social welfare. Human beings—as Homo Islamicus—must consciously maintain this balance, such as by acquiring or possessing wealth through lawful means. Additionally, within the assets a person possesses, there are rights of others that must be fulfilled through the instruments of zakāh and waqf. In contrast, from a capitalist perspective, there is no inherent motivation for donations intended to secure spiritual rewards in the afterlife. In Islam, the concept of ownership focuses on blessings and long-term benefits, whereas capitalism emphasizes the fulfillment of personal needs and desires. This study implies that, according to the Islamic economic view, human beings' ownership is limited due to divine intervention. In the capitalist view, on the other hand, private ownership of goods is actively encouraged for the sake of economic growth.

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