Treatment of Consumption in Islamic Economics: An Appraisal

  title={Treatment of Consumption in Islamic Economics: An Appraisal},
  author={Zubair Hasan Hasan},
  journal={Comparative Political Economy: Comparative Capitalism eJournal},
  • Z. Hasan
  • Published 2005
  • Economics
  • Comparative Political Economy: Comparative Capitalism eJournal
This paper attempts a broad appraisal of the literature on macro consumption function in Islamic economics. It starts with a brief look at the microelements of the concept and clears several cobwebs concerning wants and needs, scarcity of resources, the basket of goods, and the efficacy of utility and its maximization for consumer equilibrium. The explanations narrow down the conceptual gaps between the micro and macro level articulations of the subject. Next, the paper reviews some selected… 
Application of Islamic Consumer Theory: An Empirical Analysis in the Context of Bangladesh
One of the main goals of economics is to satisfy the wants of consumer. Like as conventional economics, Islamic economics has also its own law of consumption which is superior to that of conventional
Islamic Economics in Real Life: Do Muslims Give More Than the Others?
Economics literature witnessed the revival of Islamic economics over the last few decades as an alternative to conventional economic theory. Islamic economists criticized value-free nature and
Theory of Consumer Behavior: An Islamic Perspective
The paper supplements the theory of consumer behavior with insights from the primary sources of Islam. A consumer who maximizes utility operates within four dimensions: moderation, extravagance,
Economic Rationalism and Consumption: Islamic Perspective
This paper presents a comparative view of Islamic economic rationalism and consumption framework to its counterpart’s conventional capitalist and socialist economic system. In conventional economic
The theme of the article is "economy based on the principles of Islam". In the Famous Hotel in heart of London, England, is full of bankers, lawyers, and top world investors. Those who come from
Islamic Consumer Model, Fairness Behavior and Asymptotic Utility
Islamic faith and the ethical dimensions of the individual and the community play a significant role in guiding economic behavior by connecting the worldly life to the hereafter. The
Consumption and Morality: Principles and Behavioral Framework in Islamic Economics
Consumption in Islamic economics is viewed as a positive action that would contribute to human wellbeing. Islam sees consumption as having a moral agenda and noble goals rather than viewing it as a
Does ethico-moral coalition complement to economic coalition?: A response in the periphery of Islamic economics
Purpose - To reason whether the ethical–moral cum economic coalition among the different sets of economy is more efficient with objectives of Islamic Shariah. Design/methodology/approach - This is a
A Consumer and Social Welfare Model Based on the Writings of Shibani (750-805 Ad, 131-189 Ah)
The work analyses the writings of Shibani, considering their relevance for contemporary Islamic economics. The novelty of Shibani’s earnings model is its integration of Zakat and other social giving
Does issuing government debt needed as a Ponzi scheme in Islamic finance: A general equilibrium model
Purpose - The purpose of this paper is to theoretically describe the role of Zakah as a vital tool of fiscal policy in achieving Pareto optimality. Design/methodology/approach - The paper sets a


Zakah, Moderation and Aggregate Consumption in an Islamic Economy
A critical review of writings on this subject reveals that the effect of certain Islamic injunctions on aggregate consumption has been studied within Keynesian consumption theory, no attempt being
Zakah, Moderation and Aggregate Consumption in an Islamic Economy
Muslim economists have of late shown much interest in formulating a consumption function for explaining the process of income determination or distribution in an economy regulated by Islamic values
Consumption and Social Welfare: Living Standards and their Distribution in the United States
1. Introduction 2. Measuring economic welfare 3. An initial look at the data 4. The cost of living 5. The standard of living 6. Inequality 7. Poverty in America 8. Conclusion.
Theory of Consumption
Utility is the degree of satisfaction one gains from the consumption of goods. In this respect, two laws are important: Gossen’s first law or the law of decreasing marginal utility, and Gossen’s
Dani-Consumption and Social Welfare; Living Standards and their Distribution in the United States. (Book Review)
  • Journal of Sociology and Social Welfare, Dec. (www.
  • 2002
Teaching Economics in Islamic Perspective, Centre for Research in Islamic Economics
  • _
  • 1996