The behavioral codes of the interest-based capitalist economic system and its comparison with Islamic economics

This thesis examines the socio-economic transformations in human history through the lens of the instinct for survival and the quest to meet basic needs. This economic evolution, which began with hunting and gathering, has progressed over time towards systems based on agriculture, industry, and technology; during this process, social structures have diversified from tribal systems to modern nation-states. Capital accumulation, which developed in Western Europe, particularly after the Industrial Revolution, paved the way for the institutionalization of today's capitalist economic system. The interest mechanism at the heart of this system has led to the concentration of wealth in certain hands, deepening class differences, and increasing economic inequality at the global level. This exploitative structure has become a threat to social peace worldwide through civil wars, political instability, and economic crises. This study critically examines the interest-centered functioning of the capitalist economic system, shedding light on the roots of the economic and social problems it has created. The thesis aims to propose an alternative model to the current system, centering on the prohibition of interest in Islamic economics. Interest, which is prohibited in Islamic economics, is considered not only a financial instrument but also a symbol of an illegitimate order based on exploitation and unjust wealth transfer; it is regarded as a moral principle that protects individuals and society from economic oppression. The study highlights models based on production and risk-profit sharing rather than debt-based finance. Islamic economics, which is based on financial structures that are free from speculative effects and where own resources are directly converted into investment, has the potential to contribute to the construction of a sustainable, fair, and humane economic order. In this context, the thesis goes beyond criticizing the current capitalist system and opens the door to the search for an alternative economic paradigm from an Islamic perspective. To achieve this goal, the study uses comparative analysis as its methodology, comparing capitalist and Islamic economic systems based on their fundamental principles and outcomes.