Wage Differential in an Islamic Framework
The establishment of an Islamic society can itself remove many social and economic evils. Although differences between the poor and the rich generate a 'balanced economic society', they do not affect the glory of man. The departure of the Islamic economic agents from non-Islamic economic agents is due to the motivation behind economic decisions. The utility function of an Islamic employee consists of Divine will, Master pleasure, Wages and Effort level. The degree of Aman matters in worship and economic decisions and leads to wage differential in the labour market.
|Date of creation:||Jan 2006|
|Publication status:||Published in Thoughts on Economics, The Quarterly Journal of Islamic Economics Research Bureau 1.16(2006): pp. 47-53|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-293, March.
- George A. Akerlof, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, Oxford University Press, vol. 97(4), pages 543-569.
- Lawrence F. Katz, 1986.
"Efficiency Wage Theories: A Partial Evaluation,"
in: NBER Macroeconomics Annual 1986, Volume 1, pages 235-290
National Bureau of Economic Research, Inc.
- Yellen, Janet L, 1984. "Efficiency Wage Models of Unemployment," American Economic Review, American Economic Association, vol. 74(2), pages 200-205, May.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:9562. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.