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(Land)
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(Agriculture)
(Tenancy)
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(Watering) (Leasing)
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(Trade)
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(Partnership)
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(Mudarabah)
Industry
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Labour Policy
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Mini Encyclopedia
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(Lexical Research of the word "Economics")
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"Economics" Oiko Nomos
"Economic "Polit is che Oekonomie" Politique"
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Encyclopedia of Social Sciences
"Economics deals with a social phenomenon centerabout the p
rovision for the mater ial needs of anindividual and of the
organised group."(1)
(1) Encyclopedia of Social Sciences , p. 168.
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(Definitions of Muslim Thinkers)
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(Adam Smith, 1723-1790)
(Classical School of Thought) (Neo Classical School of
Thought)
(Modern School of Thought) (Adam Smith 1723-1790)
(Father of political (Wealth Economy)"An Enquiry of Nations)
1776 into the Nature and Causes of the Wealth of Nations"
"Economics is a Study of Wealth." (1)
(1) Twining Hardley, Economic , p. 10.
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(Adam Smith 1723-1790)
(Jeremy Bantham 1748-1832)
(David (Thomas Robert Malt hus 1766-1834) (J.B. Say 1767-1832)
Ricar do 1772-1823)
(Elley) (John Stuart Mill 1806-1873) (Walrus ) (Fawcett)
(Francis A. Walker)
(N.W. Senior) (Chapman)(Neo classical school of thought) (Adam
(Alfred Marshall 1842-1924)
Smith 1723-1790) (Mommon worship) (Dismal Science)
"Economics is a study of man's action in the ordinarybusiness of
life; it enquir ies how he gets his incomeand how he uses it.
"It examines that part of individual and socialaction which is
most closely connected with theattainment and with the use of mater
ial requisites ofwell-being.
"Thus economics is on one side a study of wealth,and on the
other, and more important side, a part of
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the study of man."(1)
Pr inciples of 1879 Economics of Industry
1919 Industry and Trade 1890 Economics 1924 Money, Credit and
Commerce
(Alfred Marshall)
(Knut (Bever idge) (Cannon) (Pigou)
(Taussig ) (J.B. Clark) Wicksell) (Irving Fisher)
(M odern school of Thought) (Leonel Robbins)
(London school of Economics) Nature and Significance of
Economics
(1) Jihanson, Economics, p. 6.
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1932 (Alfred Marshall) (Robbins)
(Robbins)
"Economics i s a science which stud ies humanbehaviour as a
relationship between ends and s carce means with alternative uses."
(1)
(Robbins)
(Robbins)
(1) K.K .Devet, Modern Economic Theory , p. 1.
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(George Bernard Shaw)
"If you took all the Economists in the world and laidthem end to
end , they sti ll would not r each aconclusion. " (1)
(Miller) (Keynes) (Robbins)
(Applied sides )
(1) William C.B. Blanchfierd/Jacob Oser, Economics , p. 3.
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(Classification of Economics)
(Theoretical Economics)
(Applied Economics)
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(Positive Economics)
(Welfare Economics)
(Micro Economics) (Micro)
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(Theory of Wealth Distribution)
(Theory of Production)
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(Theory of Consumer's Behaviour)
(Theory of Price)
(Theory of Equilibrium)
(Macro Economics) (Lord Keynes) Large (Macro)
(Aggregates) (Overall Averages)
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(What is Islamic Economics?)
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(Why Islamic Economics? )
(Dealings)
(Economic Animal)
(Economic Man)
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Rule of Law
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Child Labour
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Spanish Islam Legal execution was the responsibility of the
ruling
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authority, while Tax collection was the responsibilityof the
Governor, who was Spanish.(1)
(Taxes)
(Spain)
(1) Dozy, Spanish Islam , p. 234.
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(I ndus t ry ) (Ag r icult ur e) (Taxat ion) (Foreign Exchange)
(Commerce)
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(Political Economy) (Openions of people of Ideal City)
(Compendia of Politics) (Social fr amewor k of Cities)
(Rules & Regulations concer ning Govt.)
(Laws concer ning Minister ies)
(Revival of
the Sciences of Religion)
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(Dealing with the doctrines of Islam & Dut i es of r uler s
)
(A Summary of Jurisprudence)
Carl Marxs Adam Smith Locke Hume
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(S oc i o- E co no mic Evolution)
(A Book of Politics)
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(Difference between Islamic & Un-Islamic Economics)
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(Normative Science)(Operational
Ideology)
(Superiority of Islamic Concept)
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Economics
Redistribution of Wealth
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(Need & Importance of Economics in Modern Age)
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Trade Unions
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(Cog of Machine)
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(Economic Development)
Industr ial development enr iches a community whichis sound in
its agr iculture, its domestic and craft life,and in its spir itual
robustness.(1)
(1) Prof . V .A . Dem ant, Religion and Dec line of Capital ism
,
Newyork, USA, 1952, p.147
(2) E.D.Domar, Economic Growth: An Economic Approach,
American Economic Review, Vol.XVII, No.2, May,1952, p.481
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(Fundamental Princ iples Of Islamic Economics)
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o o o o o
o o o
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Right of Possession Right of Disposition
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Potential Utility Actual Utility
o
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Beneficial Aspect
Possessive Aspect
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o
o
o
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hoarding
o
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o
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(Absentee-Landlordism)
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o
o o o
o o o o
o o o o o
o o
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o o o
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Quant itat ively Qualit atively
Benefic iar y Owner
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o
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o o o o o
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o
o o
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o o
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o o
o o
o o
o o
Capitalistic System Socialistic System
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o
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(Have Nots) (Haves )
Status Quo
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(Line of Distinction)
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o o o o o
o o o
o o o
o o
o o o o
o o o
o o
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(Equal Distribution of Wealth) (Equitable Distribution of
Wealth)
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(Economic Activity)
o
o
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o
o
o
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o o
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(Directive) Points
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(Economic Evils)
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o o
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(Absolute Needs)
(Indispensible Necessities)
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(Facilities)
(Decorationes)
(Luxuries)
(Extravagancies)
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(Declaratory (Primary)
Laws)
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o o o
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(hoarding)
(Accumulation)
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economic evil
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(Political Dictates) (Political Instability)
(Circulation of Money)
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(Savings)
(Social Evils)
(Economic Sector)
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(Money, Wealth,
(Cash) Capital) (Coins)
(Treasury (Draf ts and Bills ) (Equity Shares) (Bonds)
Bills)
(Fixed Deposits and Savings) (Sav ing Cer tif ic ates )
(Credit Card)
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o
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( Ec o n o mi c Activities)
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(To be Parasite)
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o o o o
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(Savings)
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(Saving)
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Thr ee-Fold Significance
(Survivancial & Existential Significance)
(Religious & Moral Significance) (Social & Enviornmental
Significance)
Socialistic Philosophy
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(Concept of Ownership)
''Capitalistic System of Economy and Socialistic System of
Economy ''
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(Demand of Rights)
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(Concept of Ownership)
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(Ownership)
(Right of Possession)
(Right of Disposition)
(Property) (Owner)
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(Usufruct)
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(Potential)
Actualise
Pr o per t y Actual Utility Potential Utility
Effective Cause
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o
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o
(Usufructuary Right)
(Usufructuary Right)
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Lawful Right
o o
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(Proprietary Right)
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(Surplus Property)
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(Pr opr iet ar y
Rights)
(Usufructuary Rights)
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Corpus Usufructs)
Property
o o
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o
o
o
o
o
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o
o
o
o
o
o
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o
o
o
o
o o
o
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o o o
o
o
o
o
o
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-
o
o
o
o
o o o o
o o o o
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o o
o
o o o
o o
(Limitation of Ownership )
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-
o
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o
(Islamic State)
State
State
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(Unbalanced Division)
(State) (Balance)
o
o
o
o
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(State)
State
Establish State
State
(Responsibility) State
(State)
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o
o
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State
o
o
o
o
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(State)
(Taxes) Revenue
Record
State
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Nationalization Nationalize
State
State
o
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o
State
State
State
State
Limitations State
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State
o
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o
o
o
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-
o
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o
o
o
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o
o
o
o
o
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o
o
o
o
o
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o
(Forced Services) (Compelled Labour)
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o
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(Production of wealth)
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(Distribution of wealth)
o
o
o
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-
o
o
o
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-
o
o o o
o o
o
o
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o o
o
o
o
o o
o
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-
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o
o
o
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-
o
o
o
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-
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o o o
o
o o
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-
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-
o
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-
o
o
o
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o
o
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o o
o
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o
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o
o
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-
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o
o
o
o
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o o
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o o o o
o o o o
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-
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o o
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o o
o
o
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o
o
o o
o o
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o
o
o
o
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o
o
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o
o
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o o o
o
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o o
o o
o o o o o o o
o
o o
o
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o
o
o
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o o o
o
o
o
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o o o o
o o o
o
o o
o o
o
o
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o (Symbol)
"Status"
o
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o
o
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o o o
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o o o
o
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o o
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o
o
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o o o
o o o o
o o
o
o o o
o
o
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o
o o o o
o
o
o o
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o
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o
o
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o
o
o
o
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Decreasing the gap between Haves and Have-nots
Removal of the rift between the Rich and the Poor
Discouraging prodigality
Balance and Discipline in the Distr ibution of Wealth
Discouraging Accumulation and Hoarding
(Unemployment )
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(Circulation of Wealth)
(Economic Development)
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Mutual Cooperation
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o
o
o
o
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o
o
o
o
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o o
o
o
o
o
o
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o
o
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o
o
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o
Mutual Social Cooperation Mutual Economic Cooperation
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o
o
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o
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o
o
o
o
o
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o
o
o
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o
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o o o o o
o o
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o o
o
o o
o
o
o
o
o o
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-
o
o
o o o o o
o o
o o
o
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o
o
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o
o
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o
o
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o
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(Morale)
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-
o
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o
o
o
o
o
Universal 1948
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The International 1966 Declaration of Human Rights1948Covenant
on Economic, Social and Cultural RightsThe American Declaration of
Rights and Duties of ManThe African Charter on Human and People's
1981 (European Committee of Rights
Exper ts)
1961
European Committee of Experts
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o
o
o
o
o
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o
o
o
o
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o
o
o
o
o
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o
o
o
o
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o
o
o
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o
o
o( S t a t e
bureaucracy)
o o
o
o
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-
o
o
o
o
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o
o
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o o
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(LAND)
o
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o o
o
o
o o
o
o
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o
o
o
o
o
o
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o
o
o
o
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o
o
o
o
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o
o
o
o
o
o
o
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o
o o
o
o
o
o
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o
(Land as a factor of production)
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(AGRICULTURE)
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o
o
o
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o
o
o
o o o o
o
o o
o o o
o o o o o o o o
o
o
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o o o o o
o o o
o
o
o o
o
o
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(Agricultural Tenancy)
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(Landlords)
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(Watering)
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(Leasing)
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Consume
Use
Usufruct
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Lessor
Lesee
(Alteration) (Sublet)
(Depreciation Allowance)
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(Trade)
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(Kinds of Trade)
(Domestic Trade) (Foreign Trade)
(Importance & Significance of Trade)
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o
o o
o
o
o o
o
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o
o
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(Self-Sufficiency) (Economic Welfare)
(State Diplomacy)
(Trade Sanctions)
(Islamic Principles of Sale & Purchase)
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(Positive Steps)
(Observance of Allah's Rights)
(Mutual Cooperation)
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(Mutual Consent)
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(Polite Conversation)
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(Disclosing the Defects of Trade Goods)
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(Accurate Weight & Measure)
o
o
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(Bidding)
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(Doc umentation)
(Fulfillment of Promises)
o
o
(Prohibitory Principles)
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(Taking Oaths)
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(Trading of Unlawful Commodities)
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(Trade Causing Disputes)
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(Deceiving)
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(Compound Sale)
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(Trade in Absent Goods)
(Trade in Debt by Debt)
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(Abstainig from invalid forms of Trade)
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(Partnership)
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o
o
o
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o o o o
o
o o o
o
o
o
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(Parteners )
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(Kinds of Partnership)
(Joint Ownership) (Joint Agreements)
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(Joint Ownership)
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(Joint Agreements)
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(Kinds of Joint Agreement)
(Equal Partnership)
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(Equal Investment)
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(Participation in Manufacturing)
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(Credibility)
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(Basic Factos of Joint Agreements)
(Offer & Acceptance)
(Specification of Profit & Loss)
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(Trusteeship of Partners)
(Mutual Consent)
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(Equality of Rights in Dealings)
(Profit Sharing)
(Importance & Need of Partnership)
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(Mudarbah)
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(Need & Importance)
(Protection of Human Benefits)
(Welfare of the Needy)
(Descreasen the Unemployment)
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(Increase in Wealth Circulation)
(Development of Economy)
(Alternative to Interst-Based Banking)
(Curbing Anti Social Activities)
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o
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(Industry)
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o
o
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o o
o
o
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o
o
(Metalurgy )
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alloys
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(Shelters ) (Trenches)
(Islamic (Alhamra palace)Morish Architecture)
Architecture
(Textile)
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(Universal Truth)
(Begining of Economic Development) (Increase in Exports)
(Increase in National Income) (Increase in Employment)
(Agricultural Development)
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(Development in other Sectors)
(Increase in Savings and Investments)
(Increase in Govt. Revenues)
(Improvement in Balance of Payments)
(Encouragement of Speacilization and Division of Work)
(Surety of Country's Defence)
(Positive Change in People's Out-look)
(Decrease in Social Evils)
(Peace, Salvation and Security in the Country)
(Increase in Foreign Reserves) (Relief from Foreign Debts)
(Boosting of Agro-based Industry)
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(Migration)
(Status) (Experties) (Profes sion)
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Labour Policy Labour
(Physical Labour) ( Mental Exercise)
(Labour) (Factors of Production)
(Economic Activity)
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(Islamic Concept of Labour)
(Degrade)
o
o
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o
(Dignity of Labour in Islam)
o
o
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o
o
o
o
o
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o
o
o
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( Entrepreneur) (Labourer)
(Wage)
(Entrepreneur)
(Labourer)
(Wage)
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Equitable
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o
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o
o
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o
o
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o
Unionism
Trade Unions
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Mass Persecution
(Unions)
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(Demand and Supply Theory)
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(Marginal Productivity Theory)
(Minimum Wage Theory)
(Karl Marx's Wage Theory)
(Karl Marx)
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(Karl Marx)
(Karl Marx)
contribution
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(Karl Marx)
(Surplus Value)
(Karl Marx)
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(Cog of Machine)
(Karl Marx)
(Surplus Value)
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(Islamic Wage Theory)
(Equitable Wage system)
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(Islamic Labour Policy)
(Human Labour is not a Purchasable Commodity)
o
o
(Mutual Interest)
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dipress
(Prohibition of Injustice and Inhuman Treatment)
(Categor ization of Labour and Honorable Equitable Wages)
(Large scale
Unemployment)
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Equitable wages
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(Prohibition of Forced Labour)
(Destitutes)
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(Extra Wage For Extra Labour)
Over Time
(Provision of Fringe Facilities)
Pension (After (Old Age Benefits)
(Interst Free Loans) Death Benefits) (Medical Facilities)
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(Increase in Pension)
(Balance in capital, Skill and Labour)
(Degrade)
(Prohibition of Women and Child Labour )
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(Ethical and Legal Rights of The Labourers )
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o o
o o o
o
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(Elimination of Poverty)(Labour Security
Ministry
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o
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(Applied side)
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(Practical (Theoretical Division) Division)
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o
o
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o
o
o o o
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o o
o o
o o
o o
o
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o
o o
o
o o
o o o o
o
o
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// //
// //
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(Absolute Needs)
(Necessities)
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(Facilities & Amenities)
(Decorations)
(Luxuries)
Status
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(Extravagancies)
(Obligatory Category) (Voluntary Category)
(Obligatory Category)
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o
o
o o
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o
o
o
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o
o
o
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(Law of Emergency)
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Interest Economic Evils
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180- Cruden, Alexandar. Cruden's Coplete Cordance in Oldand New
Testaments.
181- David C. Colander. Econ om ics. R ichard D. I rwin
IncChicago, London.
182- Dozy, Robin Hart. Spanish Islam.
183- E. D. Domar . Econ om ic Growth : A n Econ om icApproach,
American Economi Review, 1952.
184- Encyclopedia of Social Sciences.
185- Encyclopedia Britan nica, William Benton Pb.,
London,1973.
186- F. E. Perry & Others. Dictionary of Banking.
187- F. Livessey. Economics Bussiness Decisions. Macdonaldand
Evans, 1983.
188- Jihonson, Econ omic .
189- K. K. Devet, Modern Econ omic Theory. Sham LalCharitable
Trust, Delhi.
190- Levine, And r ew. Hum an Righ t & Freedom , ThePh
ilosophy of Hum an Righ ts, ed. S . Rosenbaum.Aldwych Press,
London.
191- Romesh K. S Rao. Fun dam en tals of Fin an c ialMan agem en
t. M acmillan Pub li shing Company, NewYark.
192- Seighart, Paul. The international Law of Human
Right.Clareedon Press, Oxford, 1985.
193- Twining Hardley, Econ omic.
194- V. A. Demant. Relijion and Decline of Capitalism.
195- William C. B. Balanchfierd / Jacob Oser, Economics.
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