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Factors of Production and Factor Returns Under Political Economy of Islam عناصر الإنتاج وعوائدها في الاقتصاد السياسي الإسلامي

Author

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  • SHAMIM AHMAD SIDDIQUI

    (Assistant Professor, University of Brunei, Darussalam)

Abstract

This paper critically reviews the traditional classifications and definitions of different factors of production and the way their returns are determine under neoclassical framework. It also analyses some suggested changes in these definitions made by contemporary Muslim economists. The issue of land ownership, land-rent and share cropping is discussed in historical and Islamic perspective, An attempt is made to synthesize competing theories of demand and supply of labor and wage determination. The issue of physical and monetary capital is discussed both in the traditional and an Islamic context. Finally, the importance of the role of entrepreneurship, particularly for an Islamic economic system, is emphasized. تلقي هذه الورقة نظرة نقدية على تعريفات عناصر الإنتاج وتصنيفها وكيفية تحديد عوائدها في إطار النظرية الاقتصادية النيوكلاسيكية ، كما تتناول هذه الورقة بالتحليل بعض التعديلات المقترحة على تلك التعريفات من قبل بعض الاقتصاديين المسلمين . وتناقش قضايا ملكية الأرض وجارتها ومزارعتها من منظور تاريخي وإسلامي . وتحاول التأليف بين النظريات المتزاحمة لعرض العمل والطلب عليه وتحديد الأجور . كما تناقش موضوع رأس المال المادي والنقدي في السياق التقليدي والإسلامي . وتختم الورقة بتأكيد دور المستحدث ( صاحب المشروع ) وبخاصة في نظام اقتصادي إسلامي.

Suggested Citation

  • Shamim Ahmad Siddiqui, 1996. "Factors of Production and Factor Returns Under Political Economy of Islam عناصر الإنتاج وعوائدها في الاقتصاد السياسي الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 8(1), pages 3-28, January.
    • Handle: RePEc:abd:kauiea:v:8:y:1996:i:1:no:1:p:3-28
    DOI: 10.4197/islec.8-1.1
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    References listed on IDEAS

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    1. Guy Routh, 1980. "Occupation and Pay in Great Britain 1906–79," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-16364-9.
    2. Deane,Phyllis, 1978. "The Evolution of Economic Ideas," Cambridge Books, Cambridge University Press, number 9780521293150.
    3. Sohrab Behdad, 1992. "Property Rights and Islamic Economic Approaches," Palgrave Macmillan Books, in: K. S. Jomo (ed.), Islamic Economic Alternatives, chapter 3, pages 77-103, Palgrave Macmillan.
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    Cited by:

    1. Shamim Ahmad Siddiqui, 2006. "The Controversy Over Time Value Of Money Among Contemporary Muslim Economists," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 2(2), pages 2-3.
    2. Shamim Ahmad Siddiqui, 2006. "The Controversy Over Time Value Of Money Among Contemporary Muslim Economists," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 2(2), pages 144-153.

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