History of Islamic Economic Thought
Show Less

History of Islamic Economic Thought Contributions of Muslim Scholars to Economic Thought and Analysis

Contributions of Muslim Scholars to Economic Thought and Analysis

Abdul Azim Islahi

This unique book highlights the contributions made by Muslim scholars to economic thought throughout history, a topic that has received relatively little attention in mainstream economics. Abdul Azim Islahi discusses various ways in which Muslim ideas reached the European West, influencing scholars and helping to form the foundations of modern economic ideas and theories.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 6: The Islamic tradition in economic thought (iv): state, finance, and development

Abdul Azim Islahi

Extract

The Prophet of Islam (peace be upon him) transformed the disintegrated and anarchic people of Arabia into citizens of an organized state. He gave the necessary principles of good governance and educated his immediate followers in establishing an ideal state based on justice, equity, mutual consultation [shūrā] and God-consciousness [taqwā]. At the same time, he encouraged people to benefit from good experiences of others. Early writings on political and economic themes started in this free environment. The early writers addressed practical problems arising from the fast expanding Islamic state such as the economic role of government, management of conquered lands, administration of public revenue and expenditure, regulation of markets, provision of necessary supplies, improvement of economic condition of the people and development of economy, etc. The Muslim scholars adopted a pragmatic approach. They freely benefited from writings and experience of other people.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.