Corporatism : the Islamic Model

Abstract

What is corporatism? In the current global climate, world leaders and ordinary people alike are asking themselves this question. In light of the global financial crisis in 2008 and, more recently, the worldwide protests against major corporations, individuals across the globe are demanding solutions for a problem that is not easily defined. This conceptual paper will define and discuss the theory of corporatism, it's evolution to the current climate, the social ills it has spurred, and introduce an Islamic Corporate Model. The conceptual model would, if implemented, solve many of the challenges affecting the world due to current immoral business practices. Too often religion is immediately disregarded as a source of knowledge and inspiration for solving modern-day problems. This paper seeks to show, discuss, and explain how Islam serves a practical purpose in all aspects of business life and how integrating the proposed model would benefit the global society. This paper intends to present a framework which canbe practically applied and provide accessible answers to the growing problems of business immorality.