Property Rights in Contemporary Islamic Economic Thought: A Critical Perspective

Sohrab Behdad ()

Review of Social Economy, 1989, vol. 47, issue 2, pages 185-211

Abstract: "Islamic economists" claim Islam provides the framework for a unique economic order that is neither capitalist nor socialist. Its definition, however, remains unclear. The most significant controversy concerns the limits of private property rights. This study examines this controversy in the context of Islamic jurisprudence. It concludes that the Islamic economic system is capitalist. Reforms proposed by Islamic economists are, at most, a blueprint for a capitalist economy with an interventionist welfare state. Even this requires radical reform in Islamic jurisprudence, which is explicit in its defense of private property rights, and cannot sanction many regulatory functions common in modern capitalist economies. Copyright 1989 by Taylor and Francis Group

Date: 1989

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Persistent link: http://EconPapers.repec.org/RePEc:taf:rsocec:v:47:y:1989:i:2:p:185-211

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Review of Social Economy is edited by Wilfred Dolfsma, Deborah Figart, Robert McMaster and Martha Starr

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