THE ANALYSIS OF THRIFT PARADOX FROM THE PERSPECTIVE OF THE HOLY QURAN

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KHADEM ALIZADEH AMIR; SAFARI MOHAMMAD

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Journal: ISLAMIC FINANCE RESEARCHES Year:2014 | Volume:3 | Issue:1 (5) Page(s): 7-33

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Information Journal Paper

Title

THE ANALYSIS OF THRIFT PARADOX FROM THE PERSPECTIVE OF THE HOLY QURAN

Author(s)

KHADEM ALIZADEH AMIR | SAFARI MOHAMMAD | Issue Writer Certificate

Keywords

CONSUMPTIONQ3

QURANQ3

PARADOX OF THRIFTQ2

ISLAMIC ECONOMICSQ3

Abstract

An important economic indicator in each community is the proper ratio between production and CONSUMPTION. Meanwhile, one of the principles of conventional economics is the PARADOX OF THRIFT, especially when we recognize the different aspects of conventional and Islamic economy. Based on this principle, there is the notion that individual savings rather than spending can worsen a recession, or that individual saving is collectively harmful. In other words, when saving exceeds spending, it can create harmful consequences such as when businesses don't earn as much and have to layoff employees who are then unable to save. Therefore, an increase in individual saving rate is believed to create a flattening or diminishing of the total saving rate. This is exactly where the challenge and PARADOX OF THRIFT is raised. This paper, through an analytical-descriptive method studies the QURANic teachings in the field of CONSUMPTION and seeks the answer to the problem. The findings of this study demonstrate optimum CONSUMPTION as "a model for optimal allocation of resources" and encourage "the increase of CONSUMPTION in macro-level, for the marginal propensity to consume". This happens as a result of charity and contribution measures in the form of zakat, khums, credit unions, etc. for shifting savings to investment and consequently creating financial flows in the economy.

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APA: Copy

KHADEM ALIZADEH, AMIR, & SAFARI, MOHAMMAD. (2014). THE ANALYSIS OF THRIFT PARADOX FROM THE PERSPECTIVE OF THE HOLY QURAN. ISLAMIC FINANCE RESEARCHES, 3(1 (5)), 7-33. SID. https://sid.ir/paper/254902/en

Vancouver: Copy

KHADEM ALIZADEH AMIR, SAFARI MOHAMMAD. THE ANALYSIS OF THRIFT PARADOX FROM THE PERSPECTIVE OF THE HOLY QURAN. ISLAMIC FINANCE RESEARCHES[Internet]. 2014;3(1 (5)):7-33. Available from: https://sid.ir/paper/254902/en

IEEE: Copy

AMIR KHADEM ALIZADEH, and MOHAMMAD SAFARI, “THE ANALYSIS OF THRIFT PARADOX FROM THE PERSPECTIVE OF THE HOLY QURAN,” ISLAMIC FINANCE RESEARCHES, vol. 3, no. 1 (5), pp. 7–33, 2014, [Online]. Available: https://sid.ir/paper/254902/en

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