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Islam and Human Development

Author

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  • Shaikh, Salman

Abstract

The paper aims to present the Islamic appraisal of established theories in academic literature of development economics, both in classical and neo-classical economics. The paper also explains the Islamic concept of human development and shows it to be more welfare maximizing to humans in their entire life span which includes afterlife. The paper extensively reviews the development literature in mainstream economics and Islamic economics. The paper also uses basic mathematical formulation to explain the concepts. The paper explains the Islamic concept of human development and shows it to be more welfare maximizing to humans and to society. It discusses how Islam is not the source of underdevelopment in Muslim countries and cites the external factors responsible for underdevelopment besides weak internal administration, commitment and management. The paper is one of the few attempts to cite and critically appraise specific development theories from Islamic perspective.

Suggested Citation

  • Shaikh, Salman, 2014. "Islam and Human Development," MPRA Paper 53800, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:53800
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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. Timur Kuran, 1997. "Islam and Underdevelopment: An Old Puzzle Revisited," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(1), pages 1-41, March.
    4. Sayyid Tahir, 1995. "Islamic Perspectives on Economic Development," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 34(4), pages 845-856.
    5. Easterly, William, 2002. "How Did Heavily Indebted Poor Countries Become Heavily Indebted? Reviewing Two Decades of Debt Relief," World Development, Elsevier, vol. 30(10), pages 1677-1696, October.
    6. A.H.M. Sadeq, 1987. "Economic Development In Islam," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 1(1), pages 35-45, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Development Economics; Growth Economics; Economic Development; Poverty; Income Inequality; Income Distribution;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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