Social Justice and Islamic Economics: Theory, Issues and Practice, 1st Edition (Hardback) book cover

Social Justice and Islamic Economics

Theory, Issues and Practice, 1st Edition

Edited by Toseef Azid, Lutfi Sunar

Routledge

210 pages | 21 B/W Illus.

Purchasing Options:$ = USD
Hardback: 9781138558816
pub: 2019-03-18
SAVE ~$28.00
$140.00
$112.00
x
eBook (VitalSource) : 9780203713426
pub: 2019-02-25
from $27.48


FREE Standard Shipping!

Description

Under the rule of the current economic order, social injustice is ever-increasing. Issues such as poverty, inhumane working conditions, inadequate wages, social insecurity and an unhealthy labor market continue to persist. Many states are also unable to produce policies capable of resolving these problems. The characteristics of the capitalist system currently render it unable to provide social justice. In fact, on the contrary, the system reinforces these injustices and prevents economic and social welfare from reaching the masses. Many Muslim scholars have analyzed and, indeed, criticized this system for years.

This book argues that an alternative and more equitable theoretical and practical economical order can been developed within the framework of Islamic principles. On the other hand, the experiences of societies under the rule of Muslim governments do not always seem to hold great promise for an alternative understanding of social justice. In addition, the behaviors of Muslim individuals within their economic lives are mostly shaped by the necessities of daily economic conditions rather than by the tenets of Islam that stand with social justice. Until 1990s, studies of Islamic economics made connections between finance and the notion of social justice, but work conducted more recently has neglected this issue.

It is therefore evident that the topic of social justice needs to be revisited in a more in-depth manner. Filling an important gap in existing literature, the book uniquely connects social justice and Islamic finance and economics on this topic. Theory, practice and key issues are presented simultaneously throughout this book, which is based on the writings of a number of eminent scholars.

Table of Contents

List of illustrations

List of tables

List of contributors

Foreword

Preface

1 Social Justice in Islam: An Introduction

TOSEEF AZID & LUTFI SUNAR

2 A theory of justice in Islam

MASUDUL ALAM CHOUDHURY

3 Social justice, market, society and government: an Islamic perspective

TOSEEF AZID, OSAMAH HUSSAIN Al RAWASHDEH & MUHAMMAD OMER CHAUDHRY

4 Contractual freedom, market economy and social justice in Islam: the "invisible hand" of God-man’s agency relationship (Khilafah)

VALENTINO CATTELAN

5 How can Islamic banks achieve social justice?

KHOUTEM BEN JEDIDIA

6 How social aids affect people’s willingness to work: developing a social aid framework within the context of Islam

OMER FARUK TEKDOGAN &MEHMET TARIK ERSALAN

7 The role of waqf in socio-economic life in terms of poverty alleviation

HUSNU TEKIN

8 Interest and social justice: the impact of real interest rate on income inequality

OZAN MARASL

9 Productive zakat as a mechanism of social justice in Indonesia

AIMATUL YUMNA

10 Potential zakat collectible in OIC countries and poverty gap

SALMAN AHMED SHAIKH & QAZI MASOOD AHMED

11 Pursuing social justice through Islamic micro-takaful in the informal economy: social capital matter

YULIZAR D. SANREGO

12 Conclusion

TOSEEF AZID & LUTFI SUNAR

Index

About the Editors

Toseef Azid is Professor of Economics at the College of Business and Economics, Qassim University, Saudi Arabia.

Lutfi Sunar is Associate Professor of Sociology at the University of Istanbul, Turkey.

About the Series

Islamic Business and Finance Series

There is an increasing need for western politicians, financiers, bankers, and indeed the western business community in general to have access to high quality and authoritative texts on Islamic financial and business practices. Drawing on expertise from across the Islamic world, this new series will provide carefully chosen and focused monographs and collections, each authored/edited by an expert in their respective field all over the world.

The series will be pitched at a level to appeal to middle and senior management in both the western and the Islamic business communities. For the manager with a western background the series will provide detailed and up-to-date briefings on important topics; for the academics, postgraduates, business communities, manager with western and an Islamic background the series will provide a guide to best practice in business in Islamic communities around the world, including Muslim minorities in the west and majorities in the rest of the world.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS001010
BUSINESS & ECONOMICS / Accounting / Financial
BUS001030
BUSINESS & ECONOMICS / International / Accounting
BUS004000
BUSINESS & ECONOMICS / Banks & Banking
BUS008000
BUSINESS & ECONOMICS / Business Ethics
BUS010000
BUSINESS & ECONOMICS / Business Law
BUS017000
BUSINESS & ECONOMICS / Corporate Finance
BUS027000
BUSINESS & ECONOMICS / Finance
BUS038000
BUSINESS & ECONOMICS / Labor
BUS045000
BUSINESS & ECONOMICS / Money & Monetary Policy
BUS069000
BUSINESS & ECONOMICS / Economics / General
BUS069020
BUSINESS & ECONOMICS / International / Economics
BUS079000
BUSINESS & ECONOMICS / Government & Business
BUS097000
BUSINESS & ECONOMICS / Workplace Culture
BUS104000
BUSINESS & ECONOMICS / Corporate Governance
BUS112000
BUSINESS & ECONOMICS / Islamic Banking & Finance