Islam, Economics, and Society [Paperback]

The Islamic perception of the socio-economic process is dynamic and its insistence on social justice is uncompromising. To produce the best social structure, according to this view, mans economic endeavours should be motivated by a meaningful moral philosophy. In the face of the challenges presented by the modern world, the practice of Islamic economics raises many complex and profound issues. These are addressed in this highly important work, which must be considered essential reading for all those who live in the vision of the right.

First published in 1994.

Foreword by Professor Khurshid Ahmad.  Preface.  1. Introduction.  Plan of Work.  Part 1. Foundational Issues  2. The Nature and Significance of Islamic Economics.  A Matter of Definition.  Ethics and Economics.  The Belief in the Divine Presence.  Muslim Society versus the Islamic Society.  On Assessing Islamic Economics.  Does Islamic Economics Exist?  Summary 3. The Ethical Foundations.  An Outline of Islamic Ethics.  The Ethical Axioms.  Unity (Tawhid).  Equilibrium (Al Adl wal Ihsan).  Free Will (Ikhtiyar).  Responsibility (Fardh).  Summary.  Part 2. A Model of Islamic Ethical Axioms  4. The Framing of the Axioms of Islamic Ethics.  Religion as a Source of Ethical Axioms.  The Characteristics of the System of Ethical Axioms.  The Efficiency of the Islamic Ethical Axiom System.  Towards a Normative Islamic Economics.  Summary  5. The Rules of Economic Behaviour in an Islamic Economy.  From Axioms to Rules of Economic Behaviour.  Rational Behaviour and Ethical Environment.  Ethics and Rational Behaviour.&nblS'