Consequences of the Legal Personality of Commercial Entities: An Evaluation from the Perspective of Islamic Economics

Year 2021, Volume: 71 Issue: 2, 367 - 394, 31.12.2021

Harun Sencal

https://doi.org/10.26650/ISTJECON2021-1023078

Abstract

This study aims to critically evaluate the institution of a legal personality from the perspective of Islamic economics. The legal personality of commercial entities plays an integral role in the emergence of the capitalist system. This system, in turn, is characterized by capital accumulation. We argue that although the social relations based on the solidarity envisaged by Islamic economics have weakened with the individualization of modern societies, the primary negative effect of individualization has been the commodification of several services provided by solidarity among the members of society in the capitalist market system. Typically, such a system has spurred the practice of leveraging the limited liability of commercial legal entities to earn unlimited profits. Furthermore, because corporations prefer earning profits by selecting the most efficient and cost-effective approaches developed by means of rational decision mechanisms, it leads to the increase of material inequality in society and the expansion of debt-based financial instruments. In addition, corporations move investments from the real sector to the financial field, therefore playing a significant role in the development of financial capitalism. In other words, incidental problems such as lack of regulation and supervision are effective in regulating the situation in the wake of the crises caused by financial capitalism and other social adversities; however, a pertinent issue that remains overlooked is the existence of commercial legal entities and the goal of obtaining unlimited profit, which has emerged as the mission imposed on these legal entities within the capitalist system.

Keywords

Islamic economics, Legal personality, Financialization

Ticari İşletmelerin Tüzel Kişiliğe Sahip Olmasının Sonuçları: İslam Ekonomisi Açısından Bir Değerlendirme

Abstract

Bu çalışmanın amacı sermaye birikimini sağlayarak kapitalist sistemin ortaya çıkmasında önemli rolü bulunan kurumlardan biri olan tüzel kişilik kurumunu İslam ekonomisi açısından eleştirel bir değerlendirmeye tabi tutmaktır. İslam ekonomisinin öngördüğü dayanışma üzerine kurulu olan toplumsal ilişkilerin modern toplumlarda görülen bireyselleşme ile beraber zayıflamasına rağmen asıl olumsuz etkinin sınırsız kâr amacıyla kurulmuş olan ticari tüzel kişiliğe sahip şirketlerin sınırlı sorumluluk sahibi olmalarının getirdiği avantajları kullanarak kapitalist piyasa sisteminde birçok ilişkiyi metalaştırması olduğunu iddia etmekteyiz. Bunun ötesinde, tüzel şirketlerin rasyonel karar mekanizmaları dahilinde en verimli ve düşük maliyetli kâr elde etme yollarını tercih etmelerinden dolayı, toplumdaki maddi eşitsizliği artırmaya ve borca dayalı finansal araçların yaygınlaşmasına yol açmaktadır. Ayrıca, tüzel şirketler yatırımdaki ağırlıklarını reel sektörden ziyade finansal alana kaydırarak finansal kapitalizmin gelişmesinde önemli rol oynamaktadırlar. Diğer bir ifadeyle, finansal kapitalizmin yol açtığı krizlerde ve diğer toplumsal yıkımlarda düzenleme ve denetleme eksikliği gibi arızî sorunlar da etkili olsa da gündeme getirilmeyen önemli bir husus ticari tüzel kişiliklerin varlığı ve kapitalist sistem içerisinde onlara yüklenen misyon olarak sınırsız kâr elde etme hedefidir.

Keywords

İslam ekonomisi, Tüzel kişilik, Finansallaşma

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