One of the Islamic world's most serious problems is its general underdevelopment. Therefore, one of the Islamic Union's priorities must be to develop the Islamic world by supporting the poorer countries and resolving their economic problems. This can be done by fighting poverty,—encouraging new investments, creating jobs,—achieving law and order throughout society, removing economic injustice and guaranteeing social justice, and strengthening international as well as regional cooperation and dialogue.
Problems and tensions within the Islamic world caused by financial inequality must be reduced. A union and cooperation between Muslim nations in the economic, political, and, most importantly, the cultural arenas will enable the underdeveloped nations to advance rapidly. Moreover, those that have the necessary infrastructure in place will be enabled to maximize their productivity. Such a union will benefit economic growth and scientific and technological development.
Economic growth will increase investment in science and technology, and technological advancements will fuel further economic growth. Economic development will raise educational standards, and society will develop in many ways. Under the umbrella of the Islamic Union, individuals will be able to travel freely without the obstacles of visas or borders, and a system of free trade and enterprise will drive the Islamic world's rapid growth and development.
This development will naturally result in the Islamic world's modernization and reaching the standards found in the developed world. While Islam's economic principles diverge from the hedonism that dominates the majority of the West, free trade is just as essential to Islamic societies as it is to Western societies. Islam recognizes everybody's right to private ownership and free enterprise, but Islamic morality places certain responsibilities on individuals in order to achieve social justice. The poor have a share in the wealth of the rich, but not in the form of enforced taxation. Rather, the rich give this share to the poor willingly because of their beliefs. Islam's version of social justice is not achieved by central planning and enforcement, as socialism proclaimed but failed to deliver, but by the society's dominant moral values. Islamic morality also prevents the rich from indulging in conspicuous consumption and extravagance.
The materialistic social model encourages consumption, selfishness, and the ruthless oppression of others by individuals who have lost their respect and love for their fellow citizens. Over the past two centuries, this social model has come to dominate the majority of the Western world and has eroded its traditional Judeo-Christian moral values. As a consequence, many Western countries are forced to fight widespread drug abuse, prostitution, corruption, gambling, alcohol abuse, and organized crime. Furthermore, weakening religious beliefs has created an identity crisis: Materialist philosophies, which assert that the purpose of life is to acquire material wealth and live a life of pleasure, cannot satisfy people's spirituality and so end up creating a void of aimlessness. Under the banner of freedom, its adherents abandon themselves to their own selfish desires.