Between free market and state capitalism : how Islamic economics system shape the future global economy ?
Author
Source
Islamic Research and Training Institute
Issue
Vol. 2014, Issue 1-2, 7-11, 13-20 (31 Dec. 2014), pp.1-16, 16 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2014-12-31
Country of Publication
Saudi Arabia
No. of Pages
16
Main Subjects
Abstract EN
Free market economy is proposed to deliver on the promises of improving the standards of living of most citizens.
However, the economic crisis that happen repeatedly failed to produce what was promised.
Then, state capitalism has to step in.
The state capitalism also fails in the sense that the free market economy with rules/policy in favour of rich countries or state capitalism provide more people worst-off than benefits.
The question arises on how the Islamic economic system could shape the free markets and the future of the global economy.
Therefore, our aim in this paper is to find out the answer(s) on how Islamic economics system shape the future global economy could.
Our analysis shows that Islam has its own economic system.
The free market could be developed by taking the free market of Rasulullah (saw) and free market in holding wealth.
The government policy directed towards no interest and creating a welfare system is welcome.
American Psychological Association (APA)
Ismail, Abd al-Ghaffar B.. 2014. Between free market and state capitalism : how Islamic economics system shape the future global economy ?. Islamic Research and Training Institute،Vol. 2014, no. 1-2, 7-11, 13-20, pp.1-16.
https://search.emarefa.net/detail/BIM-905042
Modern Language Association (MLA)
Ismail, Abd al-Ghaffar B.. Between free market and state capitalism : how Islamic economics system shape the future global economy ?. Islamic Research and Training Institute No. 1-2, 7-11, 13-20 (2014), pp.1-16.
https://search.emarefa.net/detail/BIM-905042
American Medical Association (AMA)
Ismail, Abd al-Ghaffar B.. Between free market and state capitalism : how Islamic economics system shape the future global economy ?. Islamic Research and Training Institute. 2014. Vol. 2014, no. 1-2, 7-11, 13-20, pp.1-16.
https://search.emarefa.net/detail/BIM-905042
Data Type
Journal Articles
Language
English
Notes
Includes appendix : p. 16
Record ID
BIM-905042