Difference Between Capitalism And Islamic Labor Market

Labor is one of the factors of production. The element of human capital plays an important role to form the components that should have in themselves as a labors. Islamic economics means economics system under Islamic principles or bringing labor market accordance with the sha’riah. Islamic labor market is the market of labor that done consonance with Islamic principle and sha’riah . The Capitalist economics is an economics system where individuals without government intervention to decide the decision in the economy . In other words, capitalist labor market is the system of labor based on the private ownership in the means of production .
The different of characteristics between Islamic Labor Market and Capitalist Labor Market found to make both them more differ. Firstly, the labors have freedom and ownership of resources. In the Islamic market, the labor is give the freedom and ownership to use the resources but it disallowed to have over selfish attitude that can contribute damage to the society and country. The ways in control, the labors from having this attitude are through moral action and implementation of laws. Differ than for capitalist labor market. …show more content…
In Islamic labor market, the pay of wages an equally to the tasks that have performed by labors. From this, it is an equitable not equally. That means, no one have to get the high wages than the other labors although do the same work and same effort. The difference in wages is an education and productivity. The Islamic market does not glorify the individualism flow in the business. Differ than Capitalist labor market. The wage in capitalist labor market is more competitive. The firm could be an offer the high wages for an expert labors and responsible towards work. Thus, the price level of the labors would be different. This may due several factors like those that discrimination whether from, different skin, origin, sexes, and