Maqasid foundations of market economics
Author(s)
Bibliographic Information
Maqasid foundations of market economics
（Edinburgh guides to Islamic finance / series editor, Rodney Wilson）
Edinburgh University Press, c2013
- : pbk
- : hardback
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Note
Includes bibliography (p. 221-232) and index
Description and Table of Contents
Description
This title explains the exchange economics behind the Shari'ah compliance conditions of Islamic finance. Drawing on received sources of maqasid (Shari'ah's practical objectives), this book demonstrates how the principles of market economics affect how markets and financial institutions actually operate under Shari'ah law. It shows where Islamic economics converges with and differs from conventional economics through the banning of usury and other Shari'ah-prohibited trade practices. It departs from the common conceptual grounds of market behaviour shared by the maqasid approach and the conventional approach to economics. It clearly explains the maqasid economic rationale of precluding interest rates on money capital from legitimate economic exchange. Students can check their progress with learning outcomes, chapter previews, chapter summaries and revision questions.
Table of Contents
- Introduction
- Part I. Methodology of economics from the maqasid perspective
- 1. Economics of maqasid
- 2. Economic exchange and utility theory
- 3. Non-market economics and maqasid equitable public policy
- Part II. Legitimate economic exchange and productive organisation
- 4. Trade versus usury
- 5. Principles of economic exchange and the nature of money
- 6. Economic organisation and factor productivity
- Part III. Market imperfections
- 7. Sources and treatment of market imperfection
- 8. Lessons from sales usury on market imperfection
- Bibliography
- Index.
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