Socialist Economic System Research Articles

TRENDS IN DEVELOPMENT OF MANAGEMENT ACCOUNTING IN GEORGIA

Trends in the development of management accounting in Georgia although the term management accounting has been used around the world since the second half of the 20th century, in Georgia, the scientists have been arguing about the essence of this phenomenon since about the 80s. Is it an independent science? Is it part of science that does not have an independent subject? This is pseudoscience, e.g., such a phenomenon does not exist at all and so on. The dispute is largely due to the reality of accounting science and practice in specific countries. It would be a mistake to think of management accounting as a novelty for the domestic economy. The accountant of that time was engaged both in accounting and in planning and analytical work. Along with the development of the socialist economic system in the country and the strengthening of central planning, there was a gradual separation from the Accounting Service of the Planning and Financial Departments, with the transfer of part of the accounting authority to them. As a result, the activities of the accountant were actually reduced to the accounting of the facts of the economic life of the enterprise. As a result, the activities of the accountant were actually reduced to the accounting of the facts of the economic life of the enterprise. Thus, summarizing the issues discussed above, it should be noted that management accounting - is an integrated system of cost accounting and revenue, valuation, planning, monitoring, and analysis which systematizes information for operational management decisions. The existing organizational structure of the enterprise should be regularly reviewed and revised to reflect the changes occurring in the economic activity (production of new products, technological change, change management, etc.), and the achievements of scientific and technological progress. In improving the organizational structure of enterprises, it is important to properly change the approaches to the preparation of internal reporting and performance assessment.

KONSEP ETIKA PRODUKSI MENURUT PEMIKIRAN MUHAMMAD NEJATULLAH SIDDIQI

The ethics of production is the most important element in a process or in an economic system, because in production it is regulated how the use of production ethics and what can be produced in order to be utilized by humans in meeting their needs, a very big problem felt by Muslims today when faced with a contemporary economic system that is free of value, namely capitalist and socialist economic systems. The purpose of writing this article is to find out how Muhammad Nejatullah Siddiqi thought about the ethics of production and how the factors of production according to Muhammad Nejatullah Siddiqi. The research method used by the author is a library research method with a qualitative approach that is a technique of collecting data from books, journals, articles and the internet related to the problems studied. The results stated that Muhammad Nejatullah Siddiqi's thoughts can be understood justice in production that is to put the value of justice by producing and utilizing goods in a circle that is halal to the needs of humans, because in this way they improve the standard of living and obtain wealth.

Analisis Komparatif Pemikiran Imam Al-Ghazali Tentang Konsep Teori Produksi

Today, production problems are complex. The majority of production activities lead to unmoral judgment. This condition is dominated by the thinking of a capitalist and socialist economic system. The focus of the production theory of Muslim thinkers studied is Al-Ghazali, but it is juxtaposed with the perspectives of other Muslim thinkers, namely Ibn Khaldun, Muhammad Baqir Al-Sadr and Muhammad Abdul Mannan in order to complete and provide solutions to current production problems. This research is library research. using a sociological-historical approach. The method of data collection in this study used the documentation method. Then analyzed using comparative descriptive analysis. The results showed that al-Ghazali's perspective with other Muslim thinkers had two tendencies, namely similarities and differences. From the equation side, it consists of the definition of production; production purposes; the view of production in Islam; factor; and cooperation in production. Meanwhile, in terms of differences, there are 2 aspects, namely competition in production and levels in production

POLITICAL PARADIGM OF CONVENTIONAL ECONOMICS AND ISLAMIC ECONOMICS: INDONESIAN SHARIA BANK DISCOURSE

This article discusses the paradigm of Islamic political economy and conventional political economy by looking at the discourse of Indonesian sharia banks. This article aims to find out how the political economy that occurs in Indonesian sharia banks. This article is qualitative library research. The data in this study were obtained from library materials such as books, journals, and so on related to the problems studied, namely the conventional political economy paradigm and the Islamic political economy paradigm. The data collection technique used is to collect as much data as possible about the problems studied through the internet and library websites. The data writing technique used is a data analysis technique known by Miles et al., namely data condensation, data presentation, and drawing conclusions. The analysis results show that the differences between Islamic and conventional political economy paradigms are seen in the unification (religion and economic activity) by Islamic economics and separation (religion and economic activity) by conventional economics. The dominance of the conventional economic system, represented by the capitalist and socialist economic system in the world economy, especially Indonesia, does not dampen the significant development of the Islamic economic system, which is agreed upon by various parties.

PERBANDINGAN KONSTITUSI EKONOMI INDONESIA SEBELUM REFORMASI DAN PASCA REFORMASI

Comparison results between the economic constitution in the 1945 Constitution before the amendment and the 1945 Constitution after the amendment, especially article 33 are as follows: 1. Whereas Article 33 paragraphs 1, 2 and 3 remain redacted, and this shows that this country remains as strong as possible against the socialist economic system which is more heavy for government, prioritizes common interests rather than individual interests, there is state ownership of production branches that are important and affect the livelihood of many people, there is an economy that is based on kinship. 2. Whereas paragraph 4 of Article 33 of the 1945 Constitution as a result of the amendments has created a new trend in the Indonesian economy, from previously purely socialist to a mixture of socialists and liberalists, in which the principles of efficiency which are characteristic of a liberalist economy are recognized and included in the economic system We. So that it opens more opportunities for liberal and neoliberal economic practices in the laws and regulations below. This of course can mean both good and bad, however no system is perfect, there are always advantages and disadvantages. It is our duty to maximize the advantages and try as much as possible to minimize the negative effects. Because it has been decided in our Constitution, so we must of course be able to mean both good and bad, however no system is perfect, there are always advantages and disadvantages. It is our duty to maximize the advantages and try as much as possible to minimize the negative effects. Because it has been decided in our Constitution, we must implement it properly. And if we feel there are deficiencies in the system we choose, then we can initiate changes in our economic system. We propose changes to our basic economic policies in the constitution according to the procedure in Article 37 of the 1945 Constitution.

Inflasi Berdasarkan Pandangan M. Umer Chapra

According to Islamic economists, inflation has very bad effect on the economy because it disruptions of money function, weakens of saving’s spirit, decreases the production of goods, and weakens of purchasing power. Inflation also attracted the attention of M. Umer Chapra as a Muslim economist. This study to analyze M. Umer Chapra's opinion on inflation. This research with qualitative approach of historical research, which examines history of the character which includes ideas, thoughts, and things that influence the formation of his thoughts. Data collection methods is using library research with the object about Chapra’s thoughts relating to inflation, traced through his works. Chapra thought is a blend of traditional science, religion and modern economics. The results concluded that his thinking was dominated by macroeconomics because he was involved in the world economy, monetary policy, Islamic financial institutions which were more emphasized by the central bank, policies and inflation problems. Chapra's view of efforts to suppress inflation is the need for price stability and strategy. The disadvantage is that in a tolerant attitude towards western financial instruments, it must emphasize moral improvement for the course of fair economy as the solution to the failure of the capitalist and socialist economic systems.

The Process and Logic of China’s Socialist Market Economy from Mechanism to System

ABSTRACT Since the founding of the People’s Republic of China, state leaders including Mao Zedong, Zhou Enlai, Deng Xiaoping and Xi Jinping have all made important statements on the fundamental economic system of socialism. Reviewing and analyzing the history of the formulations in important Chinese documents on the fundamental economic system, this paper highlights China’s exploration of theoretical innovation as promoted by innovation in practice. The paper contends that in dealing with the relationships between planning and market and between government and market, and while defending the fundamental role played by the market in resource allocation, we should consistently stress the superiority of socialism and point to the active roles of the party and government, while emphasizing the attribute of “socialist.” In discussing how to combine the socialist economic system with the market economy, the paper stresses the superiority of socialism as a fundamental system, and contends that public ownership must be retained as the mainstay of the economy, so that the general character of the market economy can be transformed and endowed with a socialist character. The paper also discusses how the market economy should be combined with the fundamental economic system of socialism from the perspective of political economy.

Sharia Islamic Economics in the Middle of Civilization Transition

The existence of an economic system of capitalism, an economic system of socialism, and an economic system of sharia are a response to problems regarding the economy as well as an answer to removing people from the obscurity of the existing economic system. It’s hoped that these systems will be the key to the economic success of a society. But there are always advantages and disadvantages to every existing system. The economic system of capitalism is an economic system hi which investors or owners of capital are the movers and rulers. Meanwhile, the economic system of socialism is a system hi which the government is the main control, this system ignores the position of the individual, everything is regulated by the ruler and no one has the right other than the ruler. The considerations positives and negatives of each system have created a sharia economic system where this system has every positive side of the capitalist and socialist economic system but ignores the shortcomings or negative sides of the two systems. This paper discussed how the economic system of capitalism, the economic system of socialism, the Islamic economic system, and the relationship between them. The method used in this writing was library research, in which the authors used various secondary data from books, article, and many more. The results showed that it is clear that there are far differences between the conventional economic system and the Islamic economic system, the conventional economic system includes the economic system of capitalism and the economic system of socialism.

Higher accounting education curriculum development: evidence from Tunisia

PurposeThis paper aims to trace the process of setting up and developing the higher accounting education curriculum in Tunisian public institutions, stressing the period 1956–1981. Further, this study intends to highlight specificities of the Tunisian context during this period, focusing on the main roles of the Tunisian State and some key actors.Design/methodology/approachThis study is based on a historical approach. Two complementary methodologies were used, mainly, documentary study and semi-directive interviews with key actors heavily involved in higher education. The critical accounting framework and Foucault’s power-knowledge relationship were mobilized to this end.FindingsThe paper provides a general overview of higher accounting education in the Tunisian context, focusing on three specific periods. First, in the post-independence period (1956–1960), higher accounting education was a very underdeveloped French heritage. Second, during the 1960s, the Tunisian State focused on institutional and structural measures to set up the initial foundation. Those measures were impacted by the Tunisian socialist economic system, the development of capital human and the cultural French influence, at once. Third, the 1970s were essentially marked by the role of university-scholars and professional-accountants to set up a higher accounting curriculum. The market-oriented economy and the higher social equity are assumed to influence the above-mentioned setting-up. The culmination of this extending process was the unification and publication of the first official program of accounting studies, at the start of 1981.Originality/valueTo the best of the authors’ knowledge, this study is the first attempt to trace the process of setting up and developing of higher accounting education curriculum in Tunisia. This study contributes to a better understanding of this process, shedding some light on the specificities of the Tunisian context during the period 1956 to 1981.

Economic freedom between unbounded capitalism and Socialist denial and Islam's position on it – descriptive theoretical study: الحرية الاقتصادية بين الإطلاق الرأسمالي والنفي الاشتراكي وموقف الإسلام منها: دراسة نظرية وصفية

This research aims to highlight the role of the Islamic system in economic freedom and its success over the capitalist system, and a socialist in freedom. And between the pros and cons and the way of freedom in the mentioned systems. He emphasized that economic freedom in the capitalist system is absolute, there is no limit in it, but a little, while denying public ownership only an exception to the original, And the state's non-interference in economic and financial activities. And with the denial of economic freedom in the socialist economic system and direct and absolute interference of the state in all economic and financial activities through the central planning system, With the recognition of private ownership, an exception to the original. The research emphasized that economic freedom in the Islamic economic system is neither absolute nor denied, Rather, a compromise between the two sects recognizes economic freedom, but within a limited scope, Because it is disciplined by the legal controls that are valid for all societies. And on the research methodology: I used it in the research as a theoretical and descriptive study that shows freedom in the prevailing economic doctrines with an explanation of Islam’s position on its restricted freedom and the importance of legitimate controls valid for humanity. The results were obtained and the most important ones are Economic freedom in the capitalist economic system is absolute without any control, and Economic freedom is denied in the socialist economic system, therefore Many criticisms of the capitalist and socialist economic system appeared throughout their history as a result of some wrong ideas on which the Philosophy of the two doctrines, however The right to analyze and prohibit is not anyone's right but God alone, but the Economic freedom in the Islamic system is defined by Shari’a controls and constrained by restrictions that refer to the interests of the human community in general, though Islam’s mediation in economic freedom is between capitalist launch and socialist exile. One of the most important recommendations in this research Taking care of teaching Islamic economics in colleges and institutes, Commitment to economic freedom disciplined by Sharia controls, in order to eliminate corruption and bring human interests, and Following to this rule: every action is permissible unless there is evidence that it is prohibited.

Analisis Penerapan PSAK No.109 Tentang Akuntansi Zakat, Infaq/Sedekah pada Lembaga Baznas Kota Depok


 As we know that there are three major forces in the world that greatly affect the economic system, namely the Socialist economic system, the Capitalist economic system, and the Islamic economic system. Zakat, infaq, and alms are an important and clear part of the Islamic economic system. Therefore, the Zakat Forum together with the Indonesian Institute of Accountants (IAI) compiled zakat accounting in 2007. In 2008 IAI finalized PSAK No.109 on Zakat Accounting. This study aims to determine the suitability of the application of PSAK No. 109 regarding accounting for zakat, infaq/alms at the Depok City BAZNAS Institute. This study uses qualitative research with analytical descriptive methods and the data used in this study are primary data obtained from interviews and literature studies. This research concludes that BAZNAS Depok City has implemented PSAK No.109 on accounting for zakat, infaq/alms as well as possible because almost all regulations in PSAK No.109 are followed by BAZNAS Depok City. The application of PSAK No. 109 concerning Accounting for zakat, infaq/alms at BAZNAS Depok City as evidence of the management's commitment in realizing transparency and accountability in the management of zakat infaq/alms. Some regulations that are not implemented by the Depok City BAZNAS are not so fatal, namely the Depok City BAZNAS does not take amil funds if the zakat or infaq is bound, Depok City BAZNAS does not buy assets under management from zakat funds, Depok City BAZNAS does not manage them first. In the past, infaq funds, but for a maximum of 2 months, had to be directly distributed to those entitled to receive them, and finally BAZNAS Depok City did not reveal the nature of the relationship between amil and mustahik.

Left Turn Ahead: Surveying Attitudes of Young People Towards Capitalism and Socialism

Millennials have long been portrayed as a politically disengaged and apathetic generation. In recent years, however, that portrayal has changed drastically. The rise of mass movements such as Black Lives Matter, Extinction Rebellion, the ‘Greta Thunberg movement’ and Momentum, together with the ‘campus culture wars’, have turned perceptions upside down. Today, Millennials are much more commonly described as a hyper-politicised generation, which embraces ‘woke’, progressive and anti-capitalist ideas. This is increasingly extended to the first cohorts of the subsequent generation, ‘Generation Z’. Surveys show that there is a lot of truth in the cliche of the ‘woke socialist Millennial’. Younger people really do quite consistently express hostility to capitalism, and positive views of socialist alternatives of some sort. For example, around 40 per cent of Millennials claim to have a favourable opinion of socialism and a similar proportion agree with the statement that ‘communism could have worked if it had been better executed’. For supporters of the market economy, this should be a cause for concern, but so far they have mostly chosen to ignore this phenomenon, or dismiss it with phrases such as ‘Young people have always gone through a juvenile socialist phase’ or ‘They will grow out of it’. But this is simply not borne out by the data. There are no detectable differences between the economic attitudes of people in their late teens and people in their early 40s. It is no longer true that people ‘grow out’ of socialist ideas as they get older. To fill in some of the remaining gaps in the literature, the IEA has commissioned an extensive survey into the economic attitudes of Millennials and ‘Zoomers’ (i.e. Generation Z), which broadly confirms and deepens the impression we get from previous surveys. For example, 67 per cent of younger people say they would like to live in a socialist economic system. Young people associate ‘socialism’ predominantly with positive terms, such as ‘workers’, ‘public’, ‘equal’ and ‘fair’. Very few associate it with ‘failure’ and virtually nobody associates it with Venezuela, the erstwhile showcase of ‘21st Century Socialism’. Capitalism, meanwhile, is predominantly associated with terms such as ‘exploitative’, ‘unfair’, ‘the rich’ and ‘corporations’. 75 per cent of young people agree with the assertion that climate change is a specifically capitalist problem (as opposed to a side-effect of industrial production that would occur in any economic system). 71 per cent agree with the assertion that capitalism fuels racism. 73 per cent agree that it fuels selfishness, greed, and materialism, while a socialist system would promote solidarity, compassion and cooperation. 78 per cent of young people blame capitalism (not NIMBYism and supply-side restrictions) for Britain’s housing crisis. Consequently, 78 per cent also believe that solving it requires large-scale government intervention, through measures such as rent controls and public housing. 72 per cent of young people support the (re-)nationalisation of various industries such as energy, water and the railways. 72 per cent also believe that private sector involvement would put the NHS at risk. 75 per cent of young people agree with the statement that ‘socialism is a good idea, but it has failed in the past because it has been badly done (for example in Venezuela)’. The cliche that ‘real socialism has never been tried’ is not just a cliche: it is also the mainstream opinion among Millennials and Zoomers. None of this means that Britain is full of young Marxist-Leninists. Socialist ideas are widespread, but they are also thinly spread. When presented with an anti-capitalist statement, the vast majority of young people agree with it (in our survey, this was true of every single anticapitalist statement, without exception). However, when presented with a diametrically opposed pro-capitalist statement, we often find net approval for that statement too. This suggests that when young people embrace a socialist argument, this is often not a deeply-held conviction. It may simply be the argument they are most familiar with. None of our results mean that supporters of capitalism should throw in the towel, concede defeat in the battle of ideas and just accept that the future belongs to socialism. But it does suggest that they should take ‘Millennial Socialism’ far more seriously than they currently do. They should treat it as a challenge and engage with it, rather than dismiss it or deny it exists.

На гребні економічної освітньої, наукової та виховної роботи

The article is dedicated to the 100th anniversary of one of the oldest institutions of higher education in the south-eastern Ukraine – Luhansk Taras Shevchenko National University. The achievements and contribution of LNU in the fields of pedagogy, history, geography, philology and linguistics, physics and mathematics, and Olympic sports are widely known in Ukraine and abroad. At the level of the best achievements there are also achievements of Luhansk Taras Shevchenko National University in the field of economic science, which is shown by the example of the modern department of economics, marketing and entrepreneurship. The author makes an attempt to establish historical justice in the history of world economics: to prove the unsurpassed importance of the developments of the former head of the department Vasily Antonovich Bader. In the late 1960 s, in parallel with the world-famous Ota Šik, in the context of the theory of "market socialism" he substantiated the doom and disintegration of the socialist economic system and its transformation into a market economy (much later, under other economic and socio-political conditions, Deng Xiaoping, the father of the "Opening of China", came to similar views). At the beginning of the 2000s, for the first time in Ukraine and Central and Eastern Europe, the department introduced a process of organizational and economic combination of research and educational activities – the establishment of a branch of the Institute of Industrial Economics of the National Academy of Sciences of Ukraine at the Luhansk Taras Shevchenko National University. With the beginning of the war in Donbass, the department became the first and only in Ukraine, on the basis of which was established a communication and consulting support center for leading international charitable organizations in Luhansk and Donetsk regions. The department has developed one of the first in Ukraine concepts of "Marshall Plan" for the Revival of the Donbas". The academic mobility experience of the department gained via the Visiting Professor program in teaching professional disciplines in Poland to students from the European Union, Asia and Africa under the ERASMUS+ Program is unique. Innovative are the practices of participation in the most prestigious European scientific and practical research projects, encouragement on a regular basis to the domestic educational process of leading entrepreneurs, teaching disciplines of free choice in English and cooperation with public authorities.

체코슬로바키아 ‘벨벳혁명’의 경제, 사회적 요인 분석

The purpose of this paper is to answer to the following three questions about the Czechoslovakia’s Velvet Revolution. First, for what reason, in Czechoslovakia, liberalization and democratization did not proceed step by step, but suddenly the two steps proceeded simultaneously? Second, why did the communist regime, which maintained tight control and maintained a much better standard of living and economy than other communist countries, did not stop the cry of anti-communist forces and society? Finally, can the velvet revolution be defined as a revolution in the classical sense? If so, what is the essence of the Velvet Revolution?<BR> To find the answers to the above questions, the text is organized as follows. In Section 2, I look back on the historical process of the Velvet Revolution around November 17, 1989, and explain why the revolution began on this day. In Section 3, I look for the essential factors that led to the occurrence of the Velvet Revolution in terms of economics. I emphasize that the existing research that finds the cause of the anti-communist revolution and system transformation in the socialist economic system by grasping the economy and living standard of the communist system does not apply to Czechoslovakia. In Section 4, I find the cause of the revolution in the social aspect, and above all emphasize that the legacy of democracy, liberalism, individualism, and pluralism during the interwar period was an important motive for moving away from the false life of the communist system and moving toward ‘a living in true.’ In the concluding remarks of Section 5, I summarize the causes of the Czechoslovakia’s regime transition and present which factors exerted greater influence compared to others.

COMPARISON OF ISLAMIC ECONOMY AND CONVENTIONAL ECONOMY TO PEOPLE'S INCOME GROWTH IN REDUCING POVERTY AND UNEMPLOYMENT

Islamic economic system is built on the foundation of the Islamic faith, the faith in question is the right because it comes from Allah brought to mankind through the prophet Muhammad. The Islamic faith is a faith that satisfies reason, reassures the soul, and is in accordance with human nature. In an individual context, economic activity is based on the values of worship. The economic system known by society globally is the capitalist and socialist economic system. In the economic context, both systems have been able to increase the prosperity of the people in the country that uses both economic systems. The capitalist system is influenced by the zeal to make the most of its profits with limited resources. This capitalist venture is supported by the values of freedom to make ends meet. This freedom resulted in high competition among others in defense, while the socialist economic system had the goal of mutual prosperity. In conclusion, the Islamic economic system is a solution economic system for various problems that have arisen, while the conventional economic system is an economic system that is widely used by various countries in the world, including Indonesia. A conventional economy is an economic system that gives full freedom to everyone to carry out economic activities.

Analisis Penerapan PSAK No.109 Tentang Akuntansi Zakat, Infaq/Sedekah pada Lembaga Baznas Kota Depok

&#x0D; As we know that there are three major forces in the world that greatly affect the economic system, namely the Socialist economic system, the Capitalist economic system, and the Islamic economic system. Zakat, infaq, and alms are an important and clear part of the Islamic economic system. Therefore, the Zakat Forum together with the Indonesian Institute of Accountants (IAI) compiled zakat accounting in 2007. In 2008 IAI finalized PSAK No.109 on Zakat Accounting. This study aims to determine the suitability of the application of PSAK No. 109 regarding accounting for zakat, infaq/alms at the Depok City BAZNAS Institute. This study uses qualitative research with analytical descriptive methods and the data used in this study are primary data obtained from interviews and literature studies. This research concludes that BAZNAS Depok City has implemented PSAK No.109 on accounting for zakat, infaq/alms as well as possible because almost all regulations in PSAK No.109 are followed by BAZNAS Depok City. The application of PSAK No. 109 concerning Accounting for zakat, infaq/alms at BAZNAS Depok City as evidence of the management's commitment in realizing transparency and accountability in the management of zakat infaq/alms. Some regulations that are not implemented by the Depok City BAZNAS are not so fatal, namely the Depok City BAZNAS does not take amil funds if the zakat or infaq is bound, Depok City BAZNAS does not buy assets under management from zakat funds, Depok City BAZNAS does not manage them first. In the past, infaq funds, but for a maximum of 2 months, had to be directly distributed to those entitled to receive them, and finally BAZNAS Depok City did not reveal the nature of the relationship between amil and mustahik.&#x0D;

Konsep Keadilan Ekonomi Islam Dalam Sistem Ekonomi: Sebuah Kajian Konsepsional

Justice is a benchmark in an economics system. In the application of the modern economic system like the capitalist economic system and the socialist economic system, there are many injustices to the people. Problems that make it unfair are, many social inequalities between communities it makes a lot of poverty or unemployment in the country. Therefore, we need an economic system that can be a solution for people’s welfare, we call with Islamic Economics System. The type of this research is library research category, it’s a research by using the literature. The writing method is descriptive qualitative by using a primary reference source and processing research materials in the library like a book, news, and others. The purpose of this research is to discuss the concept of justice and the application of justice concepts in the economic system, especially in Islamic economics. From the discussion that has been done in this research, we can conclude that the concept of justice has two contexts, both are the individual context and the social context. As the individual context, in the Muslim activity of economics, they must not hurt themself. But in the social context, every Muslim required to not fool the others. The application of the justice concept in Islamic economics system is nothing of economic inequality between one person and another person. The Islamic economics system also prohibits any kind of injustice economics like monopoly and concentration of economic power in one particular group or person. Also with the capitalist system and the socialist system which tends to not prosper the community in the country.

Karl Marx In Wuhan: How Chinese Socialism Is Defeating COVID-19

ABSTRACT This article compares the response of the Chinese state to the COVID-19 pandemic with that of the major Western capitalist countries. It collates evidence showing that China has mobilised unprecedented governmental, economic, technological, scientific and human resources in order to get the viral outbreak under control. In countries such as the United States and the United Kingdom, on the other hand, the response to COVID-19 has thus far been insufficient, and as a result these countries have not had anywhere near China’s level of success in protecting their populations from infection. Analysing the reasons for this disparity, the article concludes that China’s socialist economic and political system, along with the leadership of the Communist Party of China, have been indispensable factors in China’s extraordinary efforts to respond to one of the greatest threats to humanity in modern history.

PERWUJUDAN NILAI AL-BIRR WA AL-TAQWA DALAM KEPEMILIKAN

ABSTRACTIslamic economics is an economic system that is different from the capitalist economic system and the socialist economic system, one of which is the ownership rights. Islam recognizes the existence of human ownership, but still emphasizes that Allah SWT is the absolute owner of everything include the universe so that what humans have is only a mandate that must be obtained and utilized in accordance with Allah’s rules. Ownership is the integration of the Islamic economic system so that it contains an element of morality that will give birth to the value of the khilafah and the value of al-birr wa al-taqwa (goodness and obedience) in which both values are centered on divine value (Ilahiyah). The realization of these values in ownership has implications for the well-being and economic equalization to achieve “falah” (bliss of the world and the hereafter). Keywords : ownership, morality, value, Islamic economic, obedience

Social Justice and Economic Systems

This essay is concerned with the question of what kind of economic system would be needed in order to realize Rawls’s principles of social justice. Hitherto, debates about ‘property-owning democracy’ and ‘liberal socialism’ have been overly schematic, in various respects, and have therefore missed some of the most important issues regarding the relationships between social justice and economic institutions and systems. What is at stake between broadly capitalist or socialist economic systems is not in fact a simple choice in a single dimension, but rather a range of choices across a range of different dimensions. This essay, then, has a dual objective: first, it aims to provide a richer account of this normative territory, while showing how issues of economic democracy, decommodification and the limits of markets, and the role of democratic economic planning, all raise questions of justice that are not well captured by focusing only on questions of ownership. Second, it aims to show how the case for democratic socialism can be developed from Rawlsian foundations, in a way that is sensitive to the normative affinities between Rawlsian liberal egalitarianism and democratic socialism, and which attends carefully to the different kinds of institutional elements which a stable, just, and democratic society would require. Taking these aims together, the hope is that we can move onward to a richer debate about the ways in which the realization of democratic socialist institutions may be seen as a requirement of social justice.