Islamic Economics: A Short History

economic thought in the qur"àn and sunnah 43 sion” or “wastage” is demonstrably applicable. Both production and consumption func ...

44 chapter two Application of Basic Philosophy The above set of Islamic ideological concepts and principles can be said to have ...

economic thought in the qur"àn and sunnah 45 Economic resources: consumption Economic resources: income distribution Economic Re ...

46 chapter two Natural resources As a factor of production, natural resources embrace more than land, the classical economic fac ...

economic thought in the qur"àn and sunnah 47 Labour is not confined to hired labour. Instead, it incorporates all types of labo ...

48 chapter two base of creating capital. Capital however is not labour alone, rather, it is labour in conjunction with natural r ...

economic thought in the qur"àn and sunnah 49 The second phase progressed further to state that the taking of Ribàis forbidden an ...

50 chapter two principal, Ru"aùs Amwalikum, suffering no loss and causing loss to none” (Qur"àn, 2:275–279). This escalation in ...

economic thought in the qur"àn and sunnah 51 when used in the Qur"àn, the word is used in a particular Qur"ànic reference to the ...

52 chapter two increase that the borrower is asked to pay over the amount orig- inally borrowed. The Prophet is reported to have ...

economic thought in the qur"àn and sunnah 53 explicitly in the New Testament, is prohibited. Early Christian jurists were agains ...

54 chapter two Ribàis called Ribàal-fadle—Ribàresulting from an increase in quantity of the same object in a transaction of an i ...

economic thought in the qur"àn and sunnah 55 reported that the Prophet said to one of his companions, Bilàl ibn Rabàh, who excha ...

56 chapter two what the heavens and the earth contain, and all that lies between them and under the soil” (Qur"àn, 20:6). The co ...

economic thought in the qur"àn and sunnah 57 to man, such as self, children, parents and clan, wealth comes first. The only exce ...

58 chapter two depends upon the closeness of their relation to the deceased, as will be shown later. This demonstrates the recog ...

economic thought in the qur"àn and sunnah 59 society as a whole and when can it be regarded as a natural resource? While the ans ...

60 chapter two of feudalism, which became clearly manifested during the Umayyad and Abbasìd caliphate. But at this stage of our ...

economic thought in the qur"àn and sunnah 61 Economic Resources: Economic Development and Production Economic Efficiency Islam h ...

62 chapter two responsibility. It refers to the societal responsibility of the producer towards employees and the surrounding co ...