Prophet Muhammad was the founder of Ethical Capitalism

 Aku setuju dengan sistem ekonomi sebenar Nabi Muhammad, iaitu price deregulation. Tiada sabsidi harga sebab harga di tangan tuhan. 

Sebab itu fakta menu jukkan bahawa semua negara Islam adalah anti hadis dan sunnah Nabi Muhammad sebab mengamalkan sabsidi harga sehingga hancur semua ekonomi negara yang konon mengaku Islam. 

Belum aku terbaca hadis ini, tapi mustahil pakar sejarah ini boleh bercerita fasal ekonomi nabi Muhammad yang menunjukkan Islam yang sebenarnya lah pengasas ekonomi barat, iaitu capitalism, bukan barat sebenarnya. Seperti menghina diri sendirikan, sebab mereka orang barat pun. 

Kalau mahu tahu cerita penuh, bagus baca buku asal dan periksa semula semua sumber sumber yang di sebut. 

Aku komen video tentang kebaikan STR.

Kelemahan STR:

1. STR yang bagi duit terus tanpa syarat, iaitu tanpa syarat, di panggil juga cash transfer, boleh memberangsangkan ekonomi, tetapi dengan syarat, jatuh kepada orang miskin. Jika di beri kepada orang yang mampu, mereka akan simpan saja duit itu, bukan untuk di belanjakan. STR cash transfer di Malaysia, cuma untuk orang yang kurang berada, jadi OK lah. 

2. STR jenis kopun makanan, masih ada elemen kawalan harga walaupun kecil, jadi haram lah juga. Juga, ramai orang miskin tidak perlu membeli di supermarket sebab menanam dan menangkap ikan. Kalau pun ada yang perlu, terpaksa membeli lebih untuk di simpan, jadi kuranglah putaran wang bulan depan. Atau kuranglah usaha menangkap ikan, beli saja ikan sardin tin. 

https://youtu.be/NkRHPEueW7Q?si=T4suJeClmqYpH7TF

This episode of The Story of Money features libertarian economist Benedikt Koehler, who discusses the surprising history of the Prophet Muhammad as a successful businessman and his influence on early capitalist practices.

Key Highlights:

Muhammad's Early Career (4:30 - 7:18): Before his prophetic calling, Muhammad was a skilled caravan trader in Mecca. He organized large-scale trade logistics that utilized risk-sharing models rather than debt-based lending.

The Medina Market (17:01 - 20:27): Upon moving to Medina (622 CE), Muhammad established a free-market environment by eliminating taxes on his market and refusing to cap prices during a famine, arguing that markets should be free and fair.

Ethical Commerce: Muhammad introduced concepts like Zakat (philanthropic wealth distribution) and rigorous business ethics, emphasizing trust and fair trading within the Ummah (community).

Influence on Western Capitalism (27:51 - 36:04): Koehler argues that European medieval traders—particularly in Venice—adopted Islamic commercial methods, such as risk-sharing, accounting terminology, and the structure of trusts, which eventually contributed to the birth of modern capitalism.

The Decline (37:51 - 40:01): The Islamic commercial golden age waned around 1500, largely due to external factors like the discovery of new maritime trade routes by Vasco da Gama and Christopher Columbus, which bypassed the traditional caravan trade routes.

Throughout the discussion, the hosts and Koehler explore the nuance of whether these financial structures were direct imports or parallel developments, ultimately agreeing that the emphasis on equity-based financing remains a highly relevant lesson for modern markets.

Give me the quotes in hadith that support this book

In Early Islam and the Birth of Capitalism, Benedikt Koehler anchors his thesis on foundational Islamic texts—primarily prophetic traditions (Hadith)—that elevated commercial life and protected open-market mechanisms.

1. Rejection of Price Controls and Support for Market Equilibrium

Koehler identifies this event as pivotal for early market capitalism: when asked to artificially cap prices during an inflation crisis, Prophet Muhammad refused to intervene, asserting that market prices are dictated by natural economic forces (demand, supply, and divine provision) rather than government mandate.

"Prices rose during the time of the Messenger of Allah, and the people said: 'O Messenger of Allah, prices have risen, so fix the prices for us.' The Messenger of Allah replied: 'Indeed, Allah is the One Who fixes prices, Who withholds, gives lavishly, and provides. And I hope that when I meet Allah, none of you will have any claim on me for an injustice regarding blood or property.'"

— Sunan Ibn Majah (Book 12, Hadith 2200) / Sunan Abi Dawud (Book 24, Hadith 3451)

2. High Social and Spiritual Status of Entrepreneurs

Unlike classical Greek philosophy or medieval European feudalism—which often viewed trade with moral skepticism—early Islamic traditions framed honest commerce as a noble calling. Koehler points to this elevation of the merchant class as crucial for fostering investment and risk-taking.

"The truthful and trustworthy merchant will be with the Prophets, the truthful ones, and the martyrs on the Day of Resurrection."

— Jamiʿ at-Tirmidhi (Vol. 3, Book 12, Hadith 1209)

3. Protection against Market Manipulation & Hoarding

For market capitalism to function efficiently, buyers and sellers need fair access to information and goods without monopolistic interference. Koehler highlights early regulatory limits placed on market cornering (hoarding) and insider trading tactics.

• On Artificial Scarcity (Hoarding):

  "No one hoards goods except a sinner."

  — Sahih Muslim (Book 22, Hadith 1605)

• On Intercepting Merchants Before Market Entry (Information Asymmetry):

  "Do not go out to meet the caravans before they reach the market, and do not buy from them until they arrive at the market with their goods."

  — Sahih al-Bukhari (Book 34, Hadith 2162)

4. Commercial Transparency & Consumer Protection

Capital markets require reliable trust structures, full disclosure of defects, and mutual consent to avoid contractual disputes.

• On Full Disclosure:

  "The two parties to a transaction have the option to cancel as long as they have not separated. If they speak the truth and disclose defects, their transaction will be blessed for them; but if they lie and conceal defects, the blessing of their transaction will be wiped out."

  — Sahih al-Bukhari (Book 34, Hadith 2079)

• On Mutual Consent (Tarāḍin):

  "Transactions are valid only by mutual consent."

  — Sunan Ibn Majah (Book 12, Hadith 2185)

5. Contract Enforcement and Credit Management

Koehler emphasizes that early Islamic finance relied heavily on flexible credit, deferment, and debt relief mechanisms rather than harsh debtor punishments, preserving liquidity within trade networks.

"May Allah show mercy to a man who is easygoing when he sells, easygoing when he buys, and easygoing when he demands his debt."

— Sahih al-Bukhari (Book 34, Hadith 2076)

In Early Islam and the Birth of Capitalism, Benedikt Koehler notes that unlike other religious texts of the ancient world—which often treated wealth and commerce with suspicion—the Quran explicitly legitimizes market trade, validates capital accumulation, and establishes legal frameworks for contracts and property rights.

Key Quranic passages align directly with the primary themes of Koehler's book:

1. The Legitimacy of Trade and Capital Investment

Koehler emphasizes that the Quran draws a sharp line between earning a profit through real-market trade and extracting non-productive interest.

"Allah has permitted trade and forbidden usury (riba)." — Surah Al-Baqarah (2:275)

"O you who have believed, do not consume one another's wealth unjustly but only [in business] by mutual consent." — Surah An-Nisa (4:29)

2. Commercial Contracts, Bookkeeping, and Credit Relations

For market capitalism to scale beyond local bartering, a society needs enforceable contract laws and standardized accounting. Koehler highlights that the longest verse in the entire Quran (Ayat ad-Dayn) is devoted entirely to business transactions, credit records, and witness requirements.

"O you who have believed, when you contract a debt for a specified term, write it down. And let a scribe write [it] between you in justice... And bring to witness two witnesses from among your men." — Surah Al-Baqarah (2:282)

3. Sacred Protection of Private Property

Capitalism relies heavily on absolute property rights and security against arbitrary state confiscation. The Quran establishes legal protections for individual wealth and ownership.

"And do not consume one another's wealth unjustly or send it [in bribes] to the rulers in order that [they might aid] you to consume a portion of the wealth of the people in sin while you know [it is unlawful]." — Surah Al-Baqarah (2:188)

4. Market Integrity: Standard Weights and Measures

To eliminate market friction and build systemic trust, the Quran commands strict standardization in commerce, targeting fraudulent measuring practices (a common problem in 7th-century trade routes).

"Woe to those who give less [than due]—who, when they take a measure from people, take in full; but if they give by measure or by weight to them, they cause loss." — Surah Al-Mutaffifin (83:1–3)

"And give full measure when you measure, and weigh with an even balance. That is the best [way] and best in result." — Surah Al-Isra (17:35)

5. Wealth Generation and Risk-Taking

Koehler contrasts the monastic ideal of medieval Europe with the Quranic view that seeking economic gain (Faḍl Allāh / "the bounty of God") is an encouraged endeavor following obligations.

"And when the prayer has been concluded, disperse within the land and seek from the bounty of Allah, and remember Allah often that you may succeed." — Surah Al-Jumu'ah (62:10)

"It is no sin for you that you seek the bounty of your Lord [by trading during pilgrimage]." — Surah Al-Baqarah (2:198)