After reflecting over these important matters, a reasonable person would conclude that a practical economic system must leave room for religion. Short term economic considerations must not permit that the longer term consequence of an economic system be ignored. Only that economic system would be beneficial to humanity which fulfils everyone’s basic needs, but also promotes healthy competition among individuals while curbing unhealthy rivalry.
The fact is that Communism was a reaction to past tyranny. That explains why this philosophy spread to areas where people were oppressed, but it did not take root in such countries as Great Britain and the United States. Similarly, it has not been successful in countries where nationalist or socialist governments were in power.
Some time ago an American newspaper posed an interesting question to the working classes: Do you consider yourself to belong to the Capitalist Class, the Middle Class or the poor class? The majority of the respondents said that they considered themselves to be in the Middle Class. This suggests that it does not occur to an American worker that he is poor. This is the reason why Communism was an even bigger failure in the United States than in Great Britain. On account of the abundance of wealth in America the labouring class does not feels that they are impoverished and are in need of a system that redresses their complaints and meets their basic needs.
Thus, the real solution to the problem is that:
In accordance with the Islamic teaching, the rights of the poor should be safeguarded; and
The hopes and aspirations of people should be fostered.
In Germany and Italy, people were not distributed money, but their aspirations were nurtured. As a consequence, they started viewing themselves as victorious and triumphant. Hope and aspirations are vital for national progress. A nation, where people no longer have aspirations or where its poor are denied basic rights, is inevitably destined to its ruin.