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Islam and the Economic Challenge
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Author: M.Umer Chapra
Publisher: Islamic Foundation (UK)
Pages: 426 Binding: Paperback
Description from the publisher:
ISLAM AND THE ECONOMIC CHALLENGE. The ongoing revival of Islam in almost all Muslim countries has created the need for a clear, integrated picture of the programme that Islam has to offer to realise the kind of well-being that it envisages, and to counter the different problems now facing mankind, particularly in the economic field. Of special interest is a strategy that would help reduce to manageable limits the macroeconomic and external imbalances that most countries are now experiencing around the world, and would yet enable them to attain full employment. remove poverty, fulfil needs, and minimise inequalities of income and wealth. Can the Muslim countries formulate such a strategy within the framework of the secularist worldview of capitalism, socialism and the welfare state? Can Islam help them realise their goals? If so, what kind of a policy package do Islamic teachings imply? This book is an effort to answer these and other related questions.
Excerpts from Prepublication Reviews:
This is an excellent work ... His sections on both the virtues and the defects of capitalism, communism, and the welfare state, are brilliant analyses . . . His understanding is quite sophisticated. At the same time his style is clear and he writes with humanity and a very deep concern for the welfare of the human race. Those concerned with the ethical problems of society will find his analysis very valuable ...
The author's plan for the rejuvenation of the Islamic economies is a combination of Qur'anic wisdom with a good deal of modern economics, and is quite sophisticated .. . this work makes an important contribution to the understanding of Islam for those who do not belong to its culture, and if it is taken seriously within Islam itself it will produce very desirable changes. – Prof. Kenneth E. Boulding, Distinguished Prof. of Economics, Emeritus Institute of Behavioural Science, University of Colorado at Boulder.
This is an extremely scholarly and well researched study of the high quality that might be expected from such a distinguished Islamic economist ... The work is certainly an outstanding contribution to the literature on Islamic economics. – Prof. Rodney Wilson, University of Durham.
This book is an admirable attempt to advance the real work of Islamic economics .. . an effort to pass beyond the field's foundational stage – that of isolating and stating Islamic economic ideals in relation to modern times and to competing modern Western conceptions–and make headway toward the stage of implementation. – Prof. Frank E. Vogel, Harvard Law School.
... an outstanding work ... hope that it will be read not only in the Muslim world but also by colleagues in the West. - Pro. Volker Nienhaus, University of Bochum.
DR. MUHAMMAD UMER CHAPRA is Economic Adviser to the Saudi Arabian Monetary Agency. Riyadh. He has published widely on Islamic economics and finance. His most outstanding and widely acclaimed work is Towards a Just Monetary System. published by the Islamic Foundation in 1985. For his various contributions to Islamic economics and finance he received in 1990 the Islamic Development Bank award in Islamic Economics and the King Faisal International Award in Islamic Studies.