Religious views on capitalism

The Protestant Ethic and the Spirit of Capitalism influenced large numbers of people (particularly Calvinist) to engage in work in the secular world, developing their own enterprises and engaging in trade and the accumulation of wealth for investment.

The first socialists drew many of their principles from Christian values (see Christian socialism) against the bourgeois values of profiteering, greed, selfishness and hoarding. Liberation theology is a school of theology within Christianity, particularly in the Catholic Church. It emphasizes the Christian mission to bring justice to the poor and oppressed, particularly through political activism. Its theologians consider sin the root source of poverty, the sin in question being exploitative capitalism and class war by the rich against the poor. In the United States, the Social Gospel was pursued in response to increased ideas of capitalist ideas and social Darwinism, calling on protections of people against perceived threats from industrialization.

Usury or riba is prohibited and religious law encourages the use of capital to spur economic activity while placing the burden of risk along with the benefit of profit with the owner of the capital. A 2.5% alms tax (zakat) is levied on all gold, crops and cattle.

Sayyid Qutb denounced capitalism in The Battle Between Islam and Capitalism, published in 1951.[1] The Islamic constitution of Iran which was drafted by mostly Islamic clerics (see the Assembly of Experts) dispraises the "materialist schools of thought" that encourage "concentration and accumulation of wealth and maximization of profit".[2] Malcolm X was also critical of capitalism.[3]