THE ROLE OF GOVERNMENT IN AN ISLAMIC ECONOMY

• Main Author: Abul Khair Mohd. Jalaluddin (Author)
• Format: Book
• Language: English
• Published: Kuala Lumpur A.S. Noordeen 1991
• Subjects: Economic > Religious aspects > Islam; Economics > Islamic countries
• Online Access: Click Here to View Status and Holdings.

 Islam recognises the limited but important role of Government in an Economy. An Islamic government steps into an economy only when the market fails to operate on its own. There is no role for government under capitalism per se, as the invisible hand takes over the market. On the contrary, the government steers the entire economy with a perfectly visible hand and owns all means of production in a socialist framework. This book highlights the role of government in an Islamic Economy. In particular, it focuses on the economic rationale of government participation, the government approach to economic management, the economic functions of the government, government policies and its expenditure functions, wage-price regulations, and the institution of Hisbah to supervise a modern-day Islamic economy