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Book Review: Distributive Justice and Need Fulfilment in an Islamic Economy, Munawar Iqbal (Editor) , Reviewed by: M. ALl KHAN مراجعة علمية لكتاب: العدالة التوزيعية والحاجة إلى الوفاء في الاقتصاد الإسلامي - منور إقبال (محرر) - مراجعة: محمد علي خان

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  • M. ALl KHAN

    (Abram G. Hutzler Professor of Economics at the Johns Hopkins University, Baltimore)

Abstract

Cash flow is a major and critical input in the capital budgeting decision of private firms. Cash flow has been analyzed under taxes and inflation. However, zakat has never been analyzed. Zakat has different base and rates compared to other systems, therefore, it requires an intensive analysis. This study analyses and compares the impact of zakat with that of Saudi and American tax systems. Two models were developed, and an empirical analysis was performed. The results support the hypothesis of a lesser impact for zakat. Under equal discount rates and initial investments, zakat tends to accept more projects than the other two tax systems.

Suggested Citation

  • M. ALl KHAN, 1991. "Book Review: Distributive Justice and Need Fulfilment in an Islamic Economy, Munawar Iqbal (Editor) , Reviewed by: M. ALl KHAN مراجعة علمية لكتاب: العدالة التوزيعية والحاجة إلى الوفاء في الاقتصاد الإس," Book reviews and book reports published in the Journal of King Abdulaziz University: Islamic Economics. 478, King Abdulaziz University, Islamic Economics Institute..
    • Handle: RePEc:abd:jkaubr:478
    DOI: 10.4197/islec.3-1.6
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    References listed on IDEAS

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    1. Khan, M. Ali & Vohra, Rajiv, 1985. "On the existence of lindahl equilibria in economies with a measure space of non-transitive consumers," Journal of Economic Theory, Elsevier, vol. 36(2), pages 319-332, August.
    2. Mitra, Tapan & Roy, Santanu, 1993. "On Some Aspects of Survival under Production Uncertainty," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(3), pages 397-411, July.
    3. Sen, Amartya K, 1974. "On Some Debates in Capital Theory," Economica, London School of Economics and Political Science, vol. 41(163), pages 328-335, August.
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