Towards a Maqāṣid Al-Sharīʿah Index of Socio-Economic Development: Theory and Application (Palgrave Studies in Islamic Banking) (Hardcover)
Islamic economics, which is a new discipline for studying economic behavior from an Islamic perspective, advocates even more comprehensive human development defined by development and progress in multiple dimensions not simply in terms of GDP, income, or standard of living. Not only should socio-economic progress be in all dimensions but should have a higher purpose. A society is considered economically and socially developed if adequate protections are provided for faith, life, intellect, progeny, and wealth. Greater progress in one dimension, while there is slack in other dimensions showing lopsided progress. This concept of balanced progress itself is an important idea. It is recognized by sociologists, but so far not measured or used in policy making by economists. The chapters in this edited volume deal with conceptualization of socio-economic development on these lines, and show how to measure socio-economic development in a comprehensive way. The book will be of interest to economic and finance academics, specifically those who study Islamic economics and finance alongside policy makers.
About the Author
Salman Syed Ali is the lead economist at the Islamic Research and Training Institute at the Islamic Development Bank (IsDB) where he has worked as an economist since 2002. Prior to that, he was Director of Research and Training at International Islamic University, Pakistan. He studied at the International Islamic University Islamabad and the University of Pennsylvania.