The Global Credit Crunch and the Crisis of Capitalism

The Global Credit Crunch and The Crisis of Capitalism

The world is once again in the midst of a global crisis which began with the financial crisis, that  engulfed the world. The ‘Credit crunch’ as it has come to be known brought panic and turmoil in the summer of 2007 to the world’s financial markets causing the US housing market bubble to burst. The crisis threatens a worldwide economic recession, potentially bringing to a halt more than a decade of increasing prosperity and employment for Western economies and potentially wiping a staggering $1 trillion off of the value of the world economy.

The Global credit crunch, food crisis and oil crisis has once again highlighted the fragility of Capitalism, as the fallout from the credit crunch and the wider economic crisis continues, demands for alternatives are certain to grow.  The aim of this book, written by our expert Adnan Khan, is to scrutanise the causes of the current crisis and evaluate some concepts which go to the heart of Capitalism which will always cause such crisis. It will asses the various factors that have all contributed to the crisis and scrutanise why Capitalism regularly has economic crisis. The Islamic view on such factors will be presented in the form of an Islamic economy under the Khilafah in order to show how Islam will bring the much needed stability the world needs.

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Contents

Introduction                      
Global Credit Crunch              
Oil: The crude facts         
Global Food Crisis                
Understanding the Fragility of Capitalism        
The Islamic economy          
Capitalism: A history of financial crisis     
Conclusions                  
Glossary                        
Bibliography