Gordon Brown was right to highlight the problem of the boom and bust cycle, which is so regular and so damaging to society. Everyone seeks consistent growth, or at least a consistent environment free of out-of-control expansions and debilitating contractions. Consistency is also essential in the monetary and fiscal environment. When business does not know the value of the currency it must trade in, whether at home or abroad, the tax it will be subject to, and the stability of prices in the face of inflation, it becomes doubly hard to maintain a consistently profitable business and full employment. Besides the monetary and fiscal environment and the attendant damage of inflation, capitalist society constantly fights over the regulatory environment. We are told that the supposed "free market" will provide a steadying hand, and conservative liberal governments aim to minimise government intervention and reduce legislation to a minimum. Yet the statute books are full, and they are constantly being amended with reactionary legislation that patches over the inherent flaws of a system which is failing to provide the stability so dearly expected. Rather than a constant and confusing mosaic of patchwork regulation to deal with the latest crisis, society requires principles and clear, stable laws that enable people to plan their futures with confidence. The financial crisis can be characterised by unrestrained credit creation on the back of an out-of-control financial system, one that not only allows the creation of money and interest from nothing, but also gambling on a mind-boggling scale. Wealth has been extracted from the system in amounts never seen before, and it will not be easily replaced. From an Islamic perspective this is entirely predictable and preventable. Yet the cure requires the complete application of Islam within the governance structures set down in the Caliphate ruling system. --- **Hausa translation:** Gordon Brown ya yi daidai da ya nuna matsalar zagayowar haɓaka da koma baya, wadda take faruwa akai-akai kuma tana cutar da al'umma sosai. Kowa yana neman ci gaba mai dorewa, ko aƙalla yanayi mai daidaito wanda ba shi da faɗaɗawa ko raguwa mai tsanani da ba za a iya sarrafawa ba. Daidaito yana da muhimmanci sosai a fannin kuɗi da haraji kuma. Idan kasuwanci ba ya sanin darajar kuɗin da zai yi ciniki da shi, ko a cikin ƙasa ko a waje, ko harajin da za a biya, ko kwanciyar hankalin farashi game da hauhawar farashi, to zai ƙara wahala a samu riba mai dorewa da cikakken aikin yi. Baya ga yanayin kuɗi da haraji da illar hauhawar farashi, al'ummar jari-hujja tana ci gaba da gwagwarmaya game da yanayin dokoki da ka'idoji. Ana gaya mana cewa "kasuwa mai 'yanci" za ta samar da daidaito, kuma gwamnatocin masu ra'ayin rikau da 'yanci suna nufin rage shigar gwamnati da rage doka zuwa mafi ƙaranci. Duk da haka, littattafan doka sun cika kuma ana ci gaba da gyara su da dokoki na martani waɗanda ke rufe gibin da ke cikin tsarin, tsarin da ya kasa samar da kwanciyar hankalin da ake fata. Maimakon wani tarin dokoki masu rikitarwa da ke facewa don magance kowace matsala, al'umma tana buƙatar ƙa'idodi da dokoki bayyanannu kuma masu dorewa waɗanda ke ba mutane damar tsara makomarsu cikin kwarin gwiwa. Rikicin kuɗi ana iya siffanta shi da yawan ƙirƙirar bashi ba tare da iyaka ba, a kan tsarin kuɗi marar sarrafawa wanda ba wai kawai yana ba da damar ƙirƙirar kuɗi da riba daga babu komai ba, har ma da caca a babban sikeli mai ban mamaki. An cire dukiya daga cikin tsarin a adadin da ba a taɓa gani ba, kuma ba za a maye gurbinta cikin sauƙi ba. Daga mahangar Musulunci, wannan abu ne da ake iya hasashensa kuma ana iya hanawa. Duk da haka, maganin yana buƙatar cikakken aiwatar da Musulunci a cikin tsarin mulki da aka kafa a tsarin mulkin Khalifanci. Tsarin mulki wanda tattalin arziki ke da manufar biyan bukatun jama'a, ba bankunan kamfanoni marasa fuska ba. Ga ka'idojin tattalin arziki a Musulunci da aka gabatar a nan, ba a matsayin maki na muhawara ko martani ga rikici da kurakuran mafita ba, sai dai a matsayin madadin akida wanda ya samu nasara tsawon karnoni masu yawa ga Musulmi da wadanda ba Musulmi ba.

Gordon Brown was right to highlight the problem of the boom and bust cycle so regular and so damaging to society. To have consistent growth or at least a consistent environment devoid of out of control expansions and debilitating contractions is what all seek. Consistency is also essential in terms of the monetary and fiscal environment. When business does not know the value of the currency it is forced to trade in, whether domestically or internationally, the tax it will be subject to and the stability of prices vis-à-vis inflation, it becomes doubly hard to maintain a consistently profitable business and full employment. In addition to the monetary and fiscal environment and attendant damage of inflation, capitalist society constantly fights over the regulatory environment. The supposed “free market” we are told will provide a steadying hand. And conservative liberal governments aim to minimise the interventions of government and reduce legislation to a minimum. Yet, the statute books are full and are constantly being amended with reactionary legislation which patches over the inherent flaws of a system which is failing to provide the stability so dearly expected. Rather than a constant and confusing mosaic of patchwork regulation to deal with the latest crisis, society is requiring of principles, and clear, stable laws that enable people to plan their futures with confidence. The Financial crisis can be characterised by unrestrained credit creation on the back of an out of control financial system that not only allows the creation of money and interest from nothing, but gambling on a mind-boggling scale. Wealth has been extracted out of the system in never before seen amounts, and will not be easily replaced. From an Islamic perspective this is entirely predictable and preventable. Yet the cure is requiring of the complete application of Islam within the governance structures set down within the Caliphate ruling system. A ruling system in which the economy is geared towards meeting the needs of the people, not faceless banking corporations. The following principles of economy in Islam are presented, not as reactionary points of debate to be part of the patchwork of crisis and flawed response, but as an ideological alternative which has enjoyed many centuries of success for Muslims and non-Muslims alike.