What is the Quran's view on excessive wealth accumulation and capitalism?

The Holy Quran, as a divine guide, presents a balanced and comprehensive approach to wealth and possessions. While it not only permits but sometimes encourages the lawful earning of livelihood and efforts to improve economic well-being, it strongly opposes excessive wealth accumulation and unrestrained capitalism that harms society and leads to injustice. The Quran views wealth as a tool; it is a means to achieve higher goals such as assisting the needy, promoting justice, and developing the earth, rather than an ultimate end for self-aggrandizement and boasting. From the Quranic perspective, wealth is a trust from Allah in human hands, which must be utilized in accordance with divine principles and ethical standards, and expended in good and righteous ways. One of the most significant concepts in the Quran concerning excessive wealth accumulation is 'Kanz' (hoarding). Kanz refers to the accumulation of gold, silver, and other assets with the intention of not spending them in the way of Allah or not paying due financial rights. The Quran strongly condemns hoarders and warns them of painful consequences in the afterlife. Verses 34 and 35 of Surah At-Tawbah explicitly address this, stating: "And those who hoard gold and silver and do not spend it in the way of Allah - give them tidings of a painful punishment." These verses clearly indicate that the mere accumulation of wealth is not the goal; rather, it is the failure to use it properly and stinginess in spending it on charity and helping the needy that is deemed reprehensible and blameworthy. Wealth must circulate and play an active role in the economy, not remain stagnant, serving only as a source of pride or a tool for power. The Quran places immense emphasis on the concept of 'economic justice.' The goal of the Islamic economic system is the equitable distribution of wealth and the prevention of its concentration in the hands of a select few. Verse 7 of Surah Al-Hashr states: "So that it (wealth) may not become a perpetual distribution among the rich from among you." This verse articulates a fundamental principle in Islamic economics, aiming to prevent monopolies and the creation of class divisions. Islam, through mechanisms such as Zakat, Sadaqah (charity), Khums (one-fifth tax), and Waqf (endowment), strives to circulate wealth within society and support the deprived. Zakat, as a compulsory financial obligation, not only purifies wealth but also acts as a social insurance for the poor and needy, reducing the wealth gap. These mechanisms are vital not only for supporting the vulnerable but also for ensuring the overall health and dynamism of the society's economy. Furthermore, the Quran strongly opposes 'Israf' (extravagance) and 'Tabdhir' (wastefulness and senseless squandering). Excessive capitalism is often accompanied by unrestrained consumerism and extravagance, which the Quran considers acts of Satan. Verse 27 of Surah Al-Isra states: "Indeed, the squanderers are brothers of the devils, and ever has Satan been to his Lord ungrateful." This prohibition of extravagance includes personal consumption, unproductive and aimless investments, and any form of wasting resources. On the other hand, the Quran emphasizes 'Qana'ah' (contentment) and 'I'tidal' (moderation) in all aspects of life, including the acquisition and consumption of wealth. This balance implies avoiding limitless greed and covetousness while striving to benefit from divine blessings. The Quran also refers to the testing nature of wealth. In many verses, wealth is presented as a 'fitnah' or 'test' for humanity. How does one use their wealth? Does one transgress through it and violate the rights of others, or does one use it for good and development? This perspective on wealth as a responsibility and a trial reminds humans that wealth is not solely for personal pleasure but a means to attain perfection and closeness to Allah. Therefore, while capitalism, in the sense of value creation, entrepreneurship, and wealth generation within lawful and ethical boundaries, is permissible, any form of excessive capitalism that leads to oppression, exploitation, hoarding, usury (riba), and disregard for the rights of the poor is strongly condemned and forbidden by the Quran. Islam advocates an economic system based on social justice, cooperation, and responsibility, where wealth should serve humanity and divine values, rather than humanity becoming enslaved by wealth and its greed.