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Islamic Ethics on Wealth: A Critical Look at Weber’s Capitalism Thesis

by Persyarikatan Muhammadiyah
12 months ago
in News, Religion
Reading Time: 2 mins read
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Islamic Ethics on Wealth: A Critical Look at Weber’s Capitalism Thesis

Max Weber’s work, The Protestant Ethic and the Spirit of Capitalism, proposed a controversial link between Protestantism and the rise of capitalism. 

Weber argued that in Protestant cultures, wealth was often seen as a sign of divine favor. Those who accumulated wealth and used it for religious purposes were believed to be marked for salvation.

However, Chairperson of Muhammadiyah Saad Ibrahim challenged the applicability of this theory to Islam.

While Weber’s thesis has been widely debated, the notion that wealth signifies divine grace remains intriguing. In Islam, however, the concept of divine grace is not directly tied to material wealth. There were many prophets, such as Prophet Ayyub, who were not as wealthy as Prophet Sulaiman or Prophet Yusuf. Their story emphasizes that wealth does not determine a person’s righteousness.

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Islam teaches that being rich or poor is neither a sign of divine grace nor punishment. This offers a valuable lesson in building a proper mindset and ethics regarding wealth. Wealth should not be a reason to look down on others, as economic status is not the measure of goodness before Allah.

“The true measure of a person’s character in terms of wealth ownership lies in the belief that all wealth belongs to Allah,” said Saad during the National Coordination Meeting of the Muhammadiyah Department of Islamic Boarding School on Wednesday, August 28. 

According to Saad, hard work is not solely for accumulating wealth but rather for fulfilling Allah’s commands, which are inherently good. The outcomes of this hard work are determined by Allah.

The belief that everything comes from Allah makes it easier to accept whatever happens, including when something is taken from us. One way to demonstrate this attitude in Islam is through waqf (endowment). 

“Waqf is seen as returning wealth to Allah, not merely giving it to a specific organization such as Muhammadiyah. Waqf does not belong to Muhammadiyah, but Allah,” said Saad. 

In conclusion, Islam offers a unique perspective on wealth and its relationship to divine grace. While wealth can be a tool to achieve the pleasure of Allah, it is not the ultimate measure of a person’s goodness or wickedness. The true test lies in how that wealth is used within the framework of obedience to Allah.

Tags: Max WeberThe Protestant Ethic and the Spirit of Capitalismwealth in Islam
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