
A Model for Islamic Development
An Approach in Islamic Moral Economy
Edward Elgar Publishing
Published on 26. July 2019
Book
Hardback
240 pages
978-1-78811-672-5 (ISBN)
Description
This book explores and analyses economic development within Islamic Moral Economy (IME), which is proposed as an alternative economic and social system to capitalism and socialism. It presents a new model of Islamic development based on the substantive morality of Islam via micro dynamics expressed through an Islamic framework of spiritual development.
Shafiullah Jan and Mehmet Asutay argue that the observed development failures of Muslim countries to provide basic necessities and an environment free of oppression and injustice can be overcome with an authentic Islamic development framework and its corresponding value system explored in the book, rather than the existing Eurocentric theory and policy making. In addition, it identifies the theological, political, social and economic boundaries for changing society to produce IME oriented development. Utilising a novel approach to development in Islam, through its substantive ethical and moral framework, the authors critically examine and evaluate the progress of Islamic banking and finance institutions in relation to its aspirations as identified by IME.
Advanced Islamic economics and finance scholars will find this a useful source as it explores the intersection between Islamic development and the moral economy. The book will also be a valuable reference for those seeking to align public policies with ethical and moral Islamic frameworks.
Shafiullah Jan and Mehmet Asutay argue that the observed development failures of Muslim countries to provide basic necessities and an environment free of oppression and injustice can be overcome with an authentic Islamic development framework and its corresponding value system explored in the book, rather than the existing Eurocentric theory and policy making. In addition, it identifies the theological, political, social and economic boundaries for changing society to produce IME oriented development. Utilising a novel approach to development in Islam, through its substantive ethical and moral framework, the authors critically examine and evaluate the progress of Islamic banking and finance institutions in relation to its aspirations as identified by IME.
Advanced Islamic economics and finance scholars will find this a useful source as it explores the intersection between Islamic development and the moral economy. The book will also be a valuable reference for those seeking to align public policies with ethical and moral Islamic frameworks.
Reviews / Votes
'Though some commentators may say Islam is inimical to development, even Western economists are now becoming convinced that Islam is a positive force for development. The authors have made an important addition to the literature on this contested topic. They demonstrate how the concept of moral economy can become a new paradigm that the world has been looking for since the 2008 global economic crisis.'--M. Fahim Khan, Markfield Institute of Higher Education, UK
More details
Series
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
Professional and scholarly
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-78811-672-5 (9781788116725)
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Schweitzer Classification
Persons
Shafiullah Jan, Assistant Professor, Institute of Management Sciences and Centre of Excellence in Islamic Finance, Peshawar, Pakistan and Mehmet Asutay, Chair in Middle Eastern and Islamic Political Economy and Finance and Director, Durham Centre for Islamic Economics and Finance, Durham University Business School, UK
Content
Contents: Introduction 2. Critical Reflections On The Development In The Muslim World 3. Islamic Moral Economy And Development 4. Justice And Development Within Islamic Paradigm 5. A Critical Evaluation Of The Social And Economic Development Performance Of Islamic Banks 6. Conceptualising The Islamic Development Process 7. Conclusion Index