Religious Capitalism Is Said to Be More Relevant for the Revival of the Islamic World

Through this work, Suwarsono offers a new perspective in reading the dynamics of Islamic civilization amidst changes in the global landscape.

Critique of Religious Socialism

In his presentation, Suwarsono criticized the dominance of religious socialism, which has long been used as a development strategy by many Islamic countries. He argued that this choice was a historical product of the post-colonial era circa 1945.

At that time, the world was in a bipolar configuration and socialism was the dominant ideology in developing countries.

“When asked what strategies Islamic countries are using to rebuild their civilizations, the answer has always been socialism or religious socialism. That’s the dominant approach,” said Suwarsono.

However, he believes this strategy is no longer fully relevant to current global developments. In his book, Suwarsono links this shift to two major events that changed the course of world civilization:

1. The weakening of United States hegemony.

2. China’s rise as a global economic power in less than four decades since Deng Xiaoping’s economic reform era.

See also: Nakamura’s Work Is Called a New Milestone in Islamic and Anthropological Studies in Indonesia

Tracing the Roots of Capitalism in Islam

Based on these geopolitical changes, Suwarsono proposes that religious capitalism represents a more historical and relevant alternative for the Islamic world. He traces the roots of capitalism in the history of Islamic civilization through several phases of economic development.

According to him, the practice of capitalism had been present long before Islam through the trade networks that developed in the Middle East region.

“The first phase was pre-Islamic trade capitalism, marked by the existence of trading cities such as Petra and Palmyra as centers of the Nabataean route,” explained Suwarsono.

“After the arrival of Islam, these economic practices transformed into state capitalism through various forms of religious intervention in economic activities,” he continued.

One example he put forward was the practice of mudharabah(profit-sharing system) that was known before Islam. This system was then maintained because it was considered to align with Islamic values, although it underwent various adjustments in its implementation.

Through this historical approach, Suwarsono demonstrates that capitalism and religious values ​​are not necessarily in conflict. Rather, they can interact to form a unique economic model within Islamic civilization.

Four Strategies of Revival

In this 375-page book, Suwarsono analyzes the opportunities and strategies for the future revival of Islamic civilization from an optimistic perspective. He emphasizes the importance of Muslims building economic, social, and intellectual systems that adapt to changing times.

This book outlines the definition of civilization through two main elements, namely world view and historical system. Based on this framework, Suwarsono offers four main strategies for the revival of Islamic civilization:

• Communalism

• Productivity

• Universalism

• Independence of science

According to him, the rise of civilization is not solely determined by economic growth. Another determining factor is a society’s ability to develop a strong vision of civilization and an independent knowledge system.

This book review also features two expert reviewers, namely Prof. Dr. Zuly Qodir, M.Ag.(UMY Professor) and Akhmad Akbar Susamto, SE, M.Phil., Ph.D. (Economics Expert from Gadjah Mada University). This discussion successfully provided a fresh space for academic reflection on the direction of development in the Islamic world amidst increasingly complex global challenges. (ID)

Link : https://www.umy.ac.id/en/kapitalisme-religius-dan-kebangkitan-dunia-islam/