By Kehaan Manjee
The “West” and “Militant Islam” have been in conflict with each other because of their different worldviews. Adam Smith and Sayyid Qutb have arguably had tremendous influence on these worldviews i.e. capitalism and Islamic state. Both thinkers provided their prescriptions to improve the condition of their societies, and analyzing these prescriptions helps us understand the differences in these worldviews. I have compared and contrasted their socioeconomic theories, using these two thinkers as proxies for the West and Militant Islam. I have specifically analyzed their prescriptions on three issues: economic inequality, taxation and interest. These key issues provide an insight into the views of the two scholars, and through that, the conflicting worldviews of the West and Militant Islam. On economic inequality, Smith believed that his economic system of natural liberty would lead to universal opulence; in contrast, Qutb argued that only an Islamic system of government could reduce the gap between the rich and the poor. Both thinkers supported taxation: Smith wanted to use it to finance the provision of public goods, security and justice; while Qutb not only wanted to use it to finance government services, but also viewed taxation as a tool for redistribution of wealth in the society. Smith and Qutb disagreed on the issue of interest: Smith supported interest–bearing lending, but argued for the imposition of a ceiling on interest rates; on the contrary, Qutb wanted an outright prohibition on all forms of interest on credit. These similarities and differences in their prescriptions on various issues provide insight into their vision for society. Since their vision and objectives are different, they have competing worldviews, which explains the conflict between the West and Militant Islam.
Advisor: Neil De Marchi | JEL Codes: B10, B12, B15, B31, N00 | Tagged: