The Economic System Of The Early Islamic Period: Institutions And Policies (political Economy Of Islam)
by Seyed Kazem Sadr /
2016 / English / PDF
3.8 MB Download
This book provides an economic analysis of the earliest Islamic
society, focusing on the policies of the Messenger of Islam
(
This book provides an economic analysis of the earliest Islamic
society, focusing on the policies of the Messenger of Islam
(Sawa
Sawa) and his successors during the first four formative
decades of Islam. Two institutions of great importance – the
market and the public treasury (
) and his successors during the first four formative
decades of Islam. Two institutions of great importance – the
market and the public treasury (Baitul Mal
Baitul Mal) – and their
roles in the development of the private and public sectors are
particularly emphasized in this study. The first part of the book
is devoted to the economic and cultural dimensions of life in the
Arabian Peninsula during the pre-Islamic period, including an
analysis of trade and financial relationships with the Roman and
Persian economies; the challenges faced by the Messenger’s
mission and the economic policies of the Messenger after the
migration to Madinah are also examined in detail. The author then
moves on to a devoted analysis of the nature and functions of the
public treasury, its revenues and expenditures, as well as
financial and fiscal policies. Also examined is the role of the
public sector in maintaining equilibrium in the financial and
real sectors, as well as in promoting economic growth and
employment. Analysis of the institution of the market, its
characteristics, and its functions during the earliest Islamic
period constitutes the third section of the book. The behaviors
of consumers, producers, and investors in an economy without an
interest rate mechanism are also addressed here. The final
section investigates the fundamental objective of Islam for human
societies – that is, justice – within the context of discussions
in earlier parts of the book. The author uses historical economic
data, facts, and evidences that are reported from the period,
both prior to and after the establishment of the Islamic State,
to explore the economic relations, policies, and models that were
in practice and applied at that time.
) – and their
roles in the development of the private and public sectors are
particularly emphasized in this study. The first part of the book
is devoted to the economic and cultural dimensions of life in the
Arabian Peninsula during the pre-Islamic period, including an
analysis of trade and financial relationships with the Roman and
Persian economies; the challenges faced by the Messenger’s
mission and the economic policies of the Messenger after the
migration to Madinah are also examined in detail. The author then
moves on to a devoted analysis of the nature and functions of the
public treasury, its revenues and expenditures, as well as
financial and fiscal policies. Also examined is the role of the
public sector in maintaining equilibrium in the financial and
real sectors, as well as in promoting economic growth and
employment. Analysis of the institution of the market, its
characteristics, and its functions during the earliest Islamic
period constitutes the third section of the book. The behaviors
of consumers, producers, and investors in an economy without an
interest rate mechanism are also addressed here. The final
section investigates the fundamental objective of Islam for human
societies – that is, justice – within the context of discussions
in earlier parts of the book. The author uses historical economic
data, facts, and evidences that are reported from the period,
both prior to and after the establishment of the Islamic State,
to explore the economic relations, policies, and models that were
in practice and applied at that time.