before anyone bring up the argument that muslim banks dont charge interest on loans, they do, they just declare it as something else.
but i agree, chargin interest for a loan, surely a state musntnt charge interest to survive.
when a bank or some thrust gains money, its always,always at someone elses expense.
zeitgeist is a bit of starwars meets communism imo.
were not quite there yet,also crime going away if everyones educated and moneyless system, i dont think so.
Well there is no 100% islamic establishment of a caliphate or islamic trade/economic system. It would be a disaster for the west it's one of the reasons of a war against Islam. It is the only system that stands against western liberalism and capitalism. Even as a monetary system, Islam endorses the gold/silver standard.
Gadaffi although not a religious guy -- in fact quite anti-religion in some respects (he bombed Muslim villages way before NATO shit) he wanted to implement a monetary system based on gold/silver/oil for all African and Middle-eastern countries. That's why Libya was invaded.
There are attempts to bring back islamic finance across the muslim world. There are indeed interest free banking options, hence some of the investment projects and organizations that were interest-free were not hit like western system backed banking institutions during the collapse of 2008.
On the other hand those that DID invest through credit/interest type systems such as UAE, got screwed real bad.
It is true that some institutes that tried to copy western systems but claim to be islamic were basically interest in disguise. This is not allowed in Islam and naturally backfired. Calling a turd not a turd, when it's a turd doesn't change it from being a turd. Interest is interest no matter how you reshuffle it.
The Islamic empire flourished through trade. Where real valuables are traded throughout the world, there is wealth in circulation.
When there is imaginary numbers, interest, bubbled up money upon money, circulation of wealth amongst elites, those less well off being deprived and leeched. There is disaster. This is the opposite of the islamic model.
Ironically while I was in school and studied different ideologies, I found good in capitalism, good in socialism and communism, but also a lot of evil and wrong in both. Both were extremes of the other. The Islamic approach is somewhere in the middle, taking the good from capitalism and the good from socialism.
Empowering the people as individuals while also caring for the less fortunate with the goal of establishing everyone, so that people are not beggers either and preventing people who attain position or establishment from ever exploiting others.
For example western countries tax 30-60% on wealth on average. In an islamic caliphate, Muslims pay zakat which is a charity that is to take care of the people around 2%. Non-muslims pay jizya which is basically a citizenship tax and is also around 2%. No one is taxed on goods they buy/sell/trade/travel with. So what you earn is your money, but you are obliged at the end of the year to contribute jizya and zakat.
There is also an establishment of a state treasury which is always there for projects for the nation, for infrastructure, for research, for construction, for well-fare, for emergencies (food rations for example, etc...)
However today there are only secular dictatorships and kingdoms across the Muslim world.