Poverty Alleviation and Non-Muslim Economists: A Research Review of Capitalism, Socialism, and Welfare State Concepts

انسدادِ غربت اور غیر مسلم ماہرینِ معیشت: سرمایہ داری، اشتراکیت اور فلاحی ریاست کے تصورات کا تحقیقی جائزہ

Abstract

This research paper provides a comprehensive analytical review of poverty alleviation theories as propounded by prominent non-Muslim economists, spanning from the classical era to contemporary developmental discourse. The study systematically examines the evolution of economic thought, beginning with Adam Smith’s "Invisible Hand" and the mechanics of free-market capitalism, moving through Karl Marx’s critique of structural exploitation and surplus value. It further explores the 20th-century paradigm shifts, specifically John Maynard Keynes’s advocacy for state interventionism during economic stagnations and Milton Friedman’s neoliberal counter-arguments emphasizing individual economic freedom and monetary stability. The second phase of the research focuses on modern human-centric models, critically evaluating Amartya Sen’s "Capability Approach," which redefines poverty as a deprivation of basic freedoms, and Jeffrey Sachs’s strategic roadmap for clinical economics and global partnership. Through a comparative lens, the paper argues that while these diverse intellectual traditions offer significant material and institutional frameworks for mitigating destitution, they often grapple with a persistent "moral vacuum." The study concludes that the absence of a transcendent ethical foundation in these secular models frequently results in the concentration of wealth and systemic inequalities, necessitating a synthesized approach that balances material mechanisms with holistic social justice.