IDEAS home Printed from https://ideas.repec.org/a/eme/imefmp/v1y2008i1p52-68.html
   My bibliography  Save this article

Price behaviour, vintage capital and Islamic economy

Author

Listed:
  • Toseef Azid
  • Mehmet Asutay
  • Muhammad Junaid Khawaja

Abstract

Purpose - To find out the behaviour of firms with objectives of IslamicShariahwhen a number of techniques are working simultaneously with the different productive efficiencies. Design/methodology/approach - This is a theoretical paper based on the modified model of layers of techniques which was initially developed by Professors W. Leontief and P. N. Mathur and tries to evaluate the impact of entrance of new techniques on obsolescence in the ethical‐moral cum economic framework of Islamic political economy system. Findings - This study suggests wastage of the resources because of their economic obsolescence and on the cost of future generation is not allowed in the system of Islam and ultimately decrease the social welfare level. Research limitations/implications - A dynamic cum marginal input‐output table can be constructed on the basis of this framework and formulate the socio‐economic policy. Originality/value - This research is beneficial to the researchers, policy makers and social scientists for the enhancement of the level of social welfare through this model.

Suggested Citation

  • Toseef Azid & Mehmet Asutay & Muhammad Junaid Khawaja, 2008. "Price behaviour, vintage capital and Islamic economy," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing Limited, vol. 1(1), pages 52-68, April.
    • Handle: RePEc:eme:imefmp:v:1:y:2008:i:1:p:52-68
    DOI: 10.1108/17538390810864250
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/17538390810864250/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/17538390810864250/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/17538390810864250?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:imefmp:v:1:y:2008:i:1:p:52-68. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.