AMBIGUITY IN THE GOALS OF AN ISLAMIC ECONOMIC SYSTEM AND ITS DISPOSITION

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YOUSOFI AHMAD ALI

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: Islamic Economics Year:2006 | Volume:6 | Issue:23 Page(s): 101-126

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Title

AMBIGUITY IN THE GOALS OF AN ISLAMIC ECONOMIC SYSTEM AND ITS DISPOSITION

Author(s)

YOUSOFI AHMAD ALI | Issue Writer Certificate

Keywords

GOALS OF AN ISLAMIC ECONOMIC SYSTEMQ3

AMBIGUITY IN GOALSQ3

SOCIAL SYSTEMQ3

SUBSYSTEMS OF A SOCIAL SYSTEMQ3

BASIS OF BELIEFQ3

OR THE FUNDAMENTS OF BELIEFQ3

ULTIMATE GOALSQ3

INTERMEDIATE GOALSQ3

PRELIMINARY GOALSQ3

CONFLICT OF GOALSQ3

OR CROSSING OF GOALSQ3

Abstract

Despite the importance and the status of goals in any economic system, the literature applied to the Islamic economic research into the goals of such an economic system tends to be inappropriate and lacking in scientific logic.Some researchers have not differentiated between the aims of an Islamic economic system and other economic systems, while others see political and cultural affairs counting as the GOALS OF AN ISLAMIC ECONOMIC SYSTEM. Some others consider welfare as the goal of an Islamic economic system. In any event, it can be claimed that an Islamic economic system, in so far as its aims are concerned, is in a state of ambiguity. To clear the doubts and uncertainties, calls for adopting a logical method in the designation of the ends and aims.In this paper, primarily the status of the SOCIAL SYSTEM has been determined with the economic system being introduced as one of its subsystems. We have also stated that the aims' of such an economic system vary from the aims of other subsystems, and that the belief basis of an economic system plays a key role in the designation of its goals.Based on the fundaments of Islamic belief, all individuals and the economic system as a whole, needs the perpetual guidance of God almighty through both the innate disposition and guidance of the prophets. God has created human beings with wisdom and the power of reason, and by sending His prophets and Holy Books, He has presented the most desirable Islamic economic behaviors, policies and strategies. Therefore, in determining the GOALS OF AN ISLAMIC ECONOMIC SYSTEM, we can benefit from wisdom and tradition (Koranic verses and what has been narrated from the life of the prophet by his followers as setting an example for a desirable Islamic behavior).By turning to what we learn from revelation through the Holy Koran, tradition and wisdom, three levels of goals for the Islamic economic system can be discovered. Public welfare is seen as the ultimate goal of an Islamic economic system while justice, security and economic growth have been identified as INTERMEDIATE GOALS, and affairs such as creating employment opportunities, stabilizing the & eneral price level, balance in levels of payments (balance of payments) are the primary goals.The realization of goals at one level creates the precedence for the realization of goals at a higher level. By the same token, if there should be a conflict in aims at one level with the aims of a higher level, the latter has precedence. In case there should be a crossing of paths between goals at the same level, then those goals which are more important should have precedence over the simply important goals.

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APA: Copy

YOUSOFI, AHMAD ALI. (2006). AMBIGUITY IN THE GOALS OF AN ISLAMIC ECONOMIC SYSTEM AND ITS DISPOSITION. EGHTESAD-E ISLAMI, 6(23), 101-126. SID. https://sid.ir/paper/99775/en

Vancouver: Copy

YOUSOFI AHMAD ALI. AMBIGUITY IN THE GOALS OF AN ISLAMIC ECONOMIC SYSTEM AND ITS DISPOSITION. EGHTESAD-E ISLAMI[Internet]. 2006;6(23):101-126. Available from: https://sid.ir/paper/99775/en

IEEE: Copy

AHMAD ALI YOUSOFI, “AMBIGUITY IN THE GOALS OF AN ISLAMIC ECONOMIC SYSTEM AND ITS DISPOSITION,” EGHTESAD-E ISLAMI, vol. 6, no. 23, pp. 101–126, 2006, [Online]. Available: https://sid.ir/paper/99775/en

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