Ideal Islamic Economy: An Introduction

by Abbas Mirakhor, Hossein Askari

Overview

This book provides an introduction to the vision of an economic system based completely on the Holy Qur’an—a system defined as a collection of institutions, representing rules of behavior, prescribed by Allah for humans, and the traditions of the Messenger. The authors argue that the main reason for the economic underperformance of Muslim countries and their economies has been non-compliance with the prescribed rules of behavior. Rule non-compliance has been chiefly due to the failure of Muslims to comprehend the Metaframework of the Qur’anand the Archetype Model of the Prophet Mohammad and interpret them in ways compatible with their own generation and time.Askari and Mirakhor believe these rules (institutions), properly adapted to prevailing conditions present what they consider as an ideal economic system.

Product Details

ISBN-13:	9781137540355
Publisher:	Palgrave Macmillan US
Publication date:	08/12/2017
Series:	Political Economy of Islam
Edition description:	1st ed. 2017
Pages:	255
Product dimensions:	5.83(w) x 8.27(h) x (d)

About the Author

Abbas Mirakhor is the First Holder of INCEIF s Chair in Islamic Finance at INCEIF - The Global University of Islamic Finance, Malaysia. He was the Executive Director and Dean of the Executive Board of the International Monetary Fund.



Hossein Askariis Iran Professor of International Business and International Affairs, George Washington University, USA.

Table of Contents

Foreword: Dr. Ali Allawi


Chapter 1: Introduction


Chapter 2: Capitalism and the Islamic Economic System


Chapter 3: Overview of an Ideal Islamic System


Chapter 4: Institutional Structure of a Sound Economy


Chapter 5: Rules Governing an Islamic Economy


Chapter 6: The Operational Features of an Islamic Economy


Chapter 7: Contemporary Muslim Economies and Rule Compliance


Chapter 8: Towards Achieving the Ideal Islamic Economy


Chapter 9: Conclusions


Bibliography


Bibliography Supplement


Index