An Islamic Perspective on Economic Development [chapter]

Zamir Iqbal, Abbas Mirakhor
2010 Muslim and Christian Understanding  
This study tries to analyze a mixed economic system based on the Islamic rules. It is regarded as an ideal mixed economic system because the goverment plays plays the role in the economic system. Nowdays, many concepts of mixed economic system come up but it cannot be said as the ideal ones due to the economic actors' greediness in interfering the systems. The method for analyzing data is placing the goverment and private sectors appropriately at a curve of possibility of producing the
more » ... ublic goods. There are some findings. The first result shows that the goverment does not need to conduct the market operation and the price interference with the assumption that the poor can meet their basic needs. Then, Islam views that mixed economic system is the ideal one if the goverment and the private sector play roles in the system. The role of goverment is to provide goods for the public and to control the private sectors. Further, the private sectors provide goods for the needs of private. Finally, the finding also shows that there is greediness that appears at the goverment and the private sectors.
doi:10.1057/9780230114401_17 fatcat:w7z7q343qzbzbnu6ft5lovdtjy