Sunday, November 02, 2008

A new economic system for Pakistan?

Muhammad Ali Jinnah, in his inaugural address on the opening of the State Bank of Pakistan said :

 "The economic system of the West has created almost insolvable problems for the humanity and to many of us it appears that only a miracle can save it from disaster that is now facing the world. It has failed to do justice between man and man, and to eradicate friction from the international field. On the contrary, it was largely responsible for the two world wars in the last half century. The Western world inspite of its advantages of mechanization and industrial efficiency is today in a worse mess than ever before in history. The adoption of western economic theory and practice will not help us in achieving our goal of creating  happy and contented people. We must work our destiny in our own way and present to the world and economic system based on true Islamic concepts of equality of man and social justice. We will thereby be fulfilling our mission as Muslims and giving to humanity the message of peace which alone can save it and secure the welfare, happiness and prosperity of mankind."

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