rations and transactions, independent of justice. For instance, take the laws of "supply and demand." It is observed that when demand on particular goods is increased, its price will increase accordingly. Then the rise in the price will effect the demand which contributes to the price de- crease. This is a well known law in the science of economics which can be applied or observed in any economic operation, irrespective of the eco- nomic system prevailing in the society. But if we took the concept of possession, we find that Capi- talism is centred about private ownership: Social- ism proclaims collective ownership; while Islam neatly balances the interests of individuals and society. Islam has its unique and independent system which shall be dealt with in time.
The main purpose of this article is to com- pare the existing economic systems as it is defined by the title. The comparison is based on doctrinal grounds. The following systems shall be examined in sequence: