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Zubair Hasan: Theory of profit: The Islamic Viewpoint, Comments: Salim Chishti زبير حسن: نظرية الربح: وجهة النظر الإسلامية - تعليق: سليم تشيشتي

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  • Salim Chishti

    (Applied Economics Research Centre University of Karachi, Pakistan)

Abstract

Hasan has raised several important issues about the theory of distribution from the perspective of Islam. One of the issues he has raised about the origins of profit has been debated during the 50s and 60s. Hasan has explicitly or implicitly rejected all the explanations in terms of uncertainty bearing, factor-organization, and decision making as given by Shumpeter, Knight, Bronfenbrenner and many institutionalist for the existence of profit as a return to a separate factor of production which may or may not be separated from other factors of production. He has identified himself with those who believe that profit is a non-functional surplus and does not correspond to any specific input. Its origin lies in dynamic change. In pure socialist tradition the existence of surplus is explained in terms of labor exploitation. But in the non-functional surplus view profit is not attributable to any specific function performed by land, labor or capital. --

Suggested Citation

  • Salim Chishti, 1984. "Zubair Hasan: Theory of profit: The Islamic Viewpoint, Comments: Salim Chishti زبير حسن: نظرية الربح: وجهة النظر الإسلامية - تعليق: سليم تشيشتي," Journal of Research in Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 2(1), pages 45-46, January.
    • Handle: RePEc:abd:crieja:v:2:y:1984:i:1:no:4:p:45-46
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