THE CHALLENGE OF GLOBAL CAPITALISM: AN ISLAMIC PERSPECTIVE

In this compelling study, published in Policy Perspectives, the flagship journal of IPS, Professor Khurshid Ahmad critically examines the rise of global capitalism through the lens of Islamic thought. While acknowledging the sweeping reach and technological advancements fueling today’s global economy, the research urges a deeper reflection on the underlying assumptions and consequences of a singular, dominant economic model. Arguing against the notion of an economic “end of history,” this paper presents a powerful case for a genuinely pluralistic global order, one where diverse economic systems can coexist, cooperate, and thrive within their own ethical and cultural frameworks. Offering both critique and constructive vision, this Islamic perspective invites scholars, policymakers, and global citizens alike to reimagine economic justice in an increasingly interconnected world.