النمو و البطالة والتضخم وجوانب من الاقتصاد الإسلامي

Abstract EN

The paper discusses the advantages of replacing corporate tax by zakat in the two cases of stable prices and inflation.

In the first case zakat sharpens the differences in marginal efficiency of capital in different activities leading to better allocation of resources.

Unlike corporate tax the real ratio of zakat to income does not rise in an inflationary situation so that it does not decelerate growth and does not curb future supply.

Contemporary taxes have failed to redistribute income in favour of the poor, where as zakat can decrease disparities as it is levied on wealth and not on income from work.

The paper criticizes the policy of raising the rate of interest to curb inflation as this slows down investment and curbs future aggregate supply.

The prohibition of interest by Islam makes imperative a recourse to an alternative policy.