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Macro Consumption Function in an Islamic Framework by Fahim Khan: Comments

Author

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  • Hasan, Zubair

Abstract

This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income determination. Transfer of income to the poor via zakah will reduce the saving potential of the economy. To what extent this will be neutralized by the rich abstaining from frivolous spending due to the fear of God is uncertain. Hence the macro model of the author to demonstrate the superiority of the Islamic system is not convincing.

Suggested Citation

  • Hasan, Zubair, 1985. "Macro Consumption Function in an Islamic Framework by Fahim Khan: Comments," MPRA Paper 3185, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:3185
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    File URL: https://mpra.ub.uni-muenchen.de/3185/1/MPRA_paper_3185.pdf
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    Cited by:

    1. Nizar, Muhammad Afdi, 2007. "Analisis Perilaku Menabung Masyarakat Dalam Deposito Pada Bank Syari’Ah Paska Fatwa Mui Tentang Keharaman Bunga
      [Saving Deposits in Bank Syari'ah After MUI Fatwa on Prohibition of Interest Rates]
      ," MPRA Paper 65611, University Library of Munich, Germany.

    More about this item

    Keywords

    Islam and consumption; zakah; israf;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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