F.R. Faridi: Theory of Fiscal Policy in an Islamic State, Rejoinder F. R. Faridi الفريدي: نظرية السياسة المالية في الدولة الإسلامية ، تعليق: رد الفريدي

I have never maintained that the objectives of fiscal economics of Islam are not shared by the secular economies of the modern world. They are. But this further reinforces the validity and relevance of Islamic objectives. The distinction of an Islamic economy, however, lies in two significant respects. Firstly, Islamic polity had spelt out these objectives much earlier and treated economic and fiscal objectives as integral part of the whole scheme of socio-economic development whereas orthodox traditional economics even today is unable to resolve the conflict between the two objectives of growth and equity and strives in vain to rectify the consequences of "unadulterated" growth through marginal adjustment in its own abstraction of reality. Secondly, the Islamic economy, deriving as it does, its strength from ethico-cultural roots, is better suited to attain those objectives effectively and adequately. For most of these objectives are intrinsically moral and structural changes. Islam brings about a change in the heart, values and preferences of the individual and reinforces these through structural changes and appropriate legal authority designed not only to nurture them but also to implement them --