Islamic Economics: A Short History

economic thought of the rightly guided caliphs 103 The Economic Thought of the Second Caliph Umar Umar’s policies were a reflect ...

104 chapter three met” (Qur"àn 8:41). In this distribution, the warrior would keep four fifths of what he gained in the battle a ...

economic thought of the rightly guided caliphs 105 could buy it from them?”; the dialogue between Umar and the buyer was conclud ...

106 chapter three Thirdly, religious reasons (8) Umar viewed as general the verses that put the spoils at the disposal of the Pr ...

economic thought of the rightly guided caliphs 107 himself. When Bilàl protested, “How could you take from me what the Prophet g ...

108 chapter three Civil unrest in some countries in recent history seemed to lend support to Umar’s view about the relationship ...

economic thought of the rightly guided caliphs 109 be spent in a particular manner specified in the Qur"àn in which the benefici ...

110 chapter three of monetary distribution was different from that of Abù-Bakr. While Abù-Bakr did not differentiate among Musli ...

economic thought of the rightly guided caliphs 111 (4) The tax was an annual tax, though it could be paid by installment. (5) It ...

112 chapter three mentioned above, with no need for repetition, it can be said that Umar could be but aware of the differences b ...

economic thought of the rightly guided caliphs 113 was introduced after the death of the Prophet, while (c) the rate on others w ...

114 chapter three In addition to the above taxes, there were two other sources of public finance: Khums and the revenue of sawàf ...

economic thought of the rightly guided caliphs 115 time the state became much wider and the administration grew more complicated ...

116 chapter three central treasury to meet the needs of other local treasuries that had deficits, or to receive instructions fro ...

economic thought of the rightly guided caliphs 117 to the first caliph than to the second; he was one of early Muslims and above ...

118 chapter three in the process of decision-making. Caliph Uthmàn was one of Caliph Umar’s supporters in his debate over the ow ...

economic thought of the rightly guided caliphs 119 bly economic argument. He was of the view that: (a) the land was given to ind ...

120 chapter three The Fourth Caliph Ali (656–661) Imam Ali ibn Abi-Taleb, the Prophet’s first cousin, his son in law and the fat ...

economic thought of the rightly guided caliphs 121 continued to be a source of annoyance to the caliphate for decades to come. I ...

122 chapter three of God’s obligations, the protection of human rights without dis- tinction of religion or community, the care ...