ISLAM AND CAPITALISM - An Evaluation from Max Weber's Perspective on the Protestant Ethic and the Spirit of Capitalism

In the face of Europe's industrialization revolutions and its formation as developed economies, the Islamic world's inability to fully fulfill its growth and development steps has led to a misconception that Islam hinders development or progress for years. This perception has been expressed from time to time by some circles with good intentions or bad intentions. Is it really so? Does Islam have a religious understanding that only has an aspect towards the hereafter and is completely isolated from worldly life? How should the chapters in the Qur'an and hadiths that describe the dangers of wealth be understood? Does Islam have a relationship with capitalism and socialism? Can a Muslim be rich? Are there any rules for being rich and wealthy? What should be the balance between spending and hedonism? The fact that all these questions are often wrongly answered and misinterpreted by both the Islamic and non-Islamic worlds is an indication that the issue is not fully understood. Although this misunderstanding is considered reasonable by those who are far from the Islamic world, it is very sad that it is misunderstood and interpreted by the Islamic world.
In this study, the subject is evaluated from the perspective of Islam by considering the assumptions and approaches in Max Weber's work, which deals with the relationship between Protestant ethic and capitalism, and which is very popular. Can relationships similar to those established by Max Weber between capitalism and Protestant ethics be valid for the religion of Islam, or can similarities be drawn? In this study, the real Islamic economic system has been tried to be revealed by considering the subject in terms of these relations.