Rethinking Capitalism

Special Lecture & Discussion

Rethinking Capitalism:

An Islamic Understanding of Social Enterprises



In recent times there is a rethinking of the fundamental value base of capitalism, economics and business. Some have ventured to state that the foundational motivation of capitalism is wrong as it promotes greed, selfishness and self centeredness. However others have noted that virtues such as competition & innovation, hard work & productivity are positive aspects of capitalism and virtues that other systems of economic arrangements have failed to develop.

There are movements today especially with the failure of both capitalistic and socialistic systems, promoting social enterprises, social entrepreneurship and solidarity economy as an alternative.

These groups seek a middle road by drawing a greater balance between profits and equitable sharing, between management control and collective responsibility, between top down directives to partnership in decision making. While these movements such as the cooperative movements, fair trade organizations, micro credit institutions, and community development initiatives are empowering the poor, disadvantaged and marginalized sections

The world is therefore seeking for alternative views and approaches in creating a new economic framework which will promote sustainable growth, development and equitable sharing which also addressed structural and institutional injustices

In this context the Islamic approach to social justice, economic development and human relationships in the work place might be able to shed new light and provide directions for the future.



Malaysia has been innovative in pioneering Islamic banking and finance, the development of the ‘halal markets’, the fostering of ‘shariyah compliance indicators’ in business ethnics and practice where fairs wages and basic principles of justice and fairness must dominate employer-employee relations.

However there is very little opportunity for discussion of these initiatives and the value base as a response to the current global crises.

It is in this context that the Centre for Social Entrepreneurship, Binary University College is organizing a Special Lecture entitled Rethinking Capitalism: An Islamic Understanding of Social Enterprises. The lecture will be followed by a time of discussion.



Date: May 19, 2009 (Tuesday)

Time: 3.00pm to 4.30pm

Venue: Binary University College, Puchong (Opp IOI mall)

Guest Speaker: Datuk Dr Syed Ali Tawfik Al-Attas, Director General, Institute of Islamic Understanding Malaysia