Economic System in Islam

Though ‘Capitalistic’ in nature, the Islamic economic system is not, however, based on the European or American capitalist economic principles, which in no way heed moral or ethical conceptions. The Islamic system obeys fully and unconditionally the dictates of moral and ethical doctrines. The difference between the Islamic and the capitalist economic systems is thus a cardinal and fundamental one. The Islamic economic system also laid down the principle of the equality of value between labour and capital, by recognizing that labour should be accorded equal consideration with capital–in fact that it can itself be regarded as form of ‘capital’. The present book consists of eleven articles explaining some vital aspects of economic system in Islam. The material is based on the writings of renowned scholars on the subject, drawn from different sources–books, journals and magazines. As such a dependable source of reference.