Cookies Policy
X

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

The Structure Of An Islamic Economy

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

This chapter focuses on the institutional mechanism a society must put in place to discharge the two fundamental economic functions; that is allocation and distribution. It is this institutional mechanism that, in the ultimate analysis, becomes the visible feature of the economy, and thus determines its structure. The chapter considers the positions of some of the Islamic economists on the issues relating to market mechanism and competition. It emphasizes that fiqh have to come to terms with the requirements of the modern age in which it cannot remain aloof from the institutional form a government takes in an Islamic society, for it is the government which is supposed to enforce the given structure of a society's property rights. The chapter concludes that the laws pertaining to disclosure of information will not only be essential but perhaps more stringent in an Islamic economy than is the case in the capitalist economies.

Keywords: Islamic economy; market mechanism; property rights

10.1163/ej.9789004179370.i-470.31
/content/books/10.1163/ej.9789004179370.i-470.31
dcterms_subject,pub_keyword
6
3
Loading

Sign-in

Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
     
    Economics of an Islamic Economy — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation