Unrestrained chase of self-interest, moral relativism, incentive-led economic choices and indifference to collective responsibilities has led to engender societies where economic interests have become the solitary basis of establishing and maintaining relationships.
books on introductory economics seldom use naturally un-achievable aspirations in discussing the so called fundamental economic fact. Most of the essential things are really not scarce at all. Food per capita has actually increased since the 1970s as per Food and Agricultural Organization (FAO) data.
Non-discretionary fiscal policy with automatic stabilizers can help in stabilizing the business cycles. This article discusses how the institution of Zakat can act as automatic stabilizer in an Islamic economic framework.