The foundation of Islamic teachings that I described earlier is essential for understanding its economic philosophy. I elaborated on those concepts because the Islamic economic system cannot succeed in the absence of its necessary environment.
As I have already mentioned, Islam does not recognize a system that is not based on law. Instead, Islam presents a path that is a combination of the other two systems (nationalistic and individualistic). As such, the fundamentals of the Islamic economic system are the same as those of Islam itself, as mentioned above.