Wednesday, April 2, 2014

"Capitalism and Imperialism" by Imad-ad-Dean Ahmad

A paper delivered on March 17, 2014 at the 2014 Istanbul Liberty Network conference in Istanbul Turkey by Imad-ad-Dean Ahmad, Minaret of Freedom Institute

I have noticed that the main opposition to capitalism in the Muslim world, as in the third world in general, is its association with imperialism. This association is unfortunate and has impeded the Muslim world from engaging in the free markets that are its birthright under the Qur'an and sunnah. While some capitalists have eagerly pursued and benefitted from imperialist policies, as did such socialist regimes as the late, unlamented Soviet Union, not only is imperialism not an inherent element of capitalism, but it is inherently opposed to the principles of a free market, and has been condemned by such major advocates of free markets as Adam Smith, Edmund Burke, and Murray Rothbard. There are several reasons for this unfortunate association of imperialism and capitalism:

*    The establishment of crony capitalism in some of the puppet dictatorships established by capitalist imperialist powers
*    The tendency toward empire of emerging world powers from which neither the capitalist nor Islamic civilization have been exempt
*    The hijacking of the American right by the neoconservatives
*    The Westernization that has accompanied the opening of markets to the West, so-called "cultural imperialism"
*    The role of corporatism in the imperial enterprises of the Western  powers
*    The failure of modern conservatives and libertarians to categorically repudiate imperialism as a violation of free market principles...

Read the full paper: