publication . Article . 2001

ISLAMIC ECONOMIC THOUGHT AND THE NEW GLOBAL ECONOMY

CHAPRA, M. UMER;
Open Access
  • Published: 01 Jan 2001 Journal: Journal of Islamic Economic Studies, volume 09-1, pages 1-16
Abstract
The paper examines the teachings of the Qur’an and the Sunnah and the views of a number of classical Muslim scholars with respect to the unity of mankind and its implications for integration of the world economies through increased specialization and division of labor and removal of restrictions on the free flow of goods, services, labor and capital. It then discusses the extent to which these teachings and views fit within the framework of the New Global Economy. It argues that the philosophy ingrained in Islamic teachings and the writings of Muslim scholars considers the promotion of justice to be indispensable for achieving the desired integration of the worl...
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