Tag Archives: Welfare Economics

Importance of Worldview in Shaping Economic Choices

Salman Ahmed Shaikh Famine, death from hunger and debt enslavement is the fact of life for the half of the people on earth not because that overall, the societies have scarce resources, but because the distribution of resources is inequitable … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , | Leave a comment

Welfare Function in Islam

Salman Ahmed Shaikh Human welfare in Islam encompasses economic welfare, but comprises much more than that. The achievement of human welfare is sought in both aspects of human life, i.e. worldly life and eternal life hereafter. Hence, the human welfare … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , | Leave a comment

Is Islam the Cause of Underdevelopment

Salman Ahmed Shaikh It is observed that many of the developing countries are countries with Muslim majority population. In fact, if we flip this, almost every country with Muslim majority population seems to be underdeveloped. Is this a coincidence or … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , | 6 Comments

Scope of Islamic Economics

Salman Ahmed Shaikh For recognition as a distinct field in economic inquiry, any school of economic thought has to have a distinction in methodology, offer positive explanation of an economic phenomenon or propose unique policy suggestions on recurrent and important … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , | Leave a comment

Material Progress and Islam

Salman Ahmed Shaikh Scope and objective of ‘Deen-e-Islam’ is to purify our souls and character in all walks of life and in our different roles in this world.  Islamic teachings enable us to shine in life hereafter where every soul … Continue reading

Rate this:

Posted in Articles on Islamic Economics, General Issues About Islam | Tagged , , , | Leave a comment

Inheritance Law of Islam and Women

Salman Ahmed Shaikh In the ancient world, women inherited nothing and even when they inherited, they were treated like a minor. Women usually had no independent legal personality. The pre-Islamic Arabs were opposed to inheritance for women, who could not … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , | 3 Comments

Behavior of Firms in Islamic Economic Framework

Salman Ahmed Shaikh In this article, we take a brief look at the theory of the firm in Islamic economics and how a firm’s objectives and governing framework is different in Islamic economic framework as compared to the neoclassical and … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , | 1 Comment

Distributional Inequity and Welfare Loss in Interest Based Financial System

Salman Ahmed Shaikh Capitalism, the way it is practiced as an economic system, has largely allowed and provided legal cover to certain exploitative institutions and their operations based on free market philosophy. Such institutions have been chiefly responsible for much … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , | 8 Comments