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truthseeker63
04-05-2011, 06:00 PM
What would the Islamic Economic System do about the
Hoarding Of Wealth ?

http://www.thefreedictionary.com/hoarded+wealth
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Zuzubu
04-05-2011, 06:04 PM
You mean if someone finds a treasure, what he should do with it? :O
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aamirsaab
04-05-2011, 07:33 PM
Since Charity is encouraged and interest is forbidden in an Islamic economy, it's likely that hoarding wealth would decrease.

Money itself is viewed entirely different in an Islamic economy. It's merely a means of exchange - doesn't have an intrinsic value. So in that case, it's actually quite pointless to hoard money (it's just a bunch of electronic numbers or sheets of paper...).

Economically speaking, it's better if money is spent and Islam provides numerous avenues of distributing wealth.
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