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Distributional equity in Islam

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Author Info

  • Hasan, Zubair

Abstract

This paper attempts to provide an overview of a vast and important debate from an Islamic angle. It presents the concept of distributional equity in a pure Islamic system. It is argued that this system would ensure distributional equity through reliance on two sets of controls. First is a set of ethical and regulatory measures which would prevent inequities from happening. Essentially these preventive measures are obligatory and voluntary expenditures from their income by the Muslims. Second is a set of corrective measures which would be activated by the Islamic state if inequities do in fact arise. These corrective measures are quite varied and include most of the familiar monetary, fiscal, legal, and administrative tools of modern economic policy subject to Islamic constraints. The foundation of the Islamic scheme is the all pervading concept of Amanah that seeks to convert the material ambitions of man into the means of attaining spiritual heights .In the light of the argument developed the paper presents a macroeconomic model for attaining equity in the functional distribution of income. In the concluding section the paper deals briefly with the trade off between various goals of economic policy

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2785.

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Date of creation: 1988
Date of revision:
Handle: RePEc:pra:mprapa:2785

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Related research

Keywords: Distribution; Amanah Equity Factor relations;

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Cited by:
  1. Hasan, Zubair, 2010. ""Islamic house financing:current models and a proposal from social perspective," MPRA Paper 31638, University Library of Munich, Germany, revised 02 Apr 2011.
  2. Islahi, Abdul Azim, 1997. "Post Independence India's contribution to Islamic Economics," MPRA Paper 18514, University Library of Munich, Germany.
  3. Hasan, Zubair, 2007. "Labor as a source of value and capital formation:Ibn Khaldun, Ricardo and Marx – A Comparison," MPRA Paper 5989, University Library of Munich, Germany.
  4. Shaukat, Mughees & Mirakhor, Abbas & Krichene, Noureddine, 2013. "Fragility Of Interest-Based Debt Financing: Is It Worth Sustaining A Regime Uncertainty?," MPRA Paper 56362, University Library of Munich, Germany.
  5. Hasan, Zubair, 2008. "La introducción de la microfinanciación islámica en África: el caso nigeriano," MPRA Paper 9522, University Library of Munich, Germany.
  6. Geoffrey A. Jehle, 1992. "An Islamic Perspective on Inequality in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 31(3), pages 295-316.

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