Towards a just society

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Chapter 8 in Islamic Economics and Human Well-being, 2024, pp 214-245 from Edward Elgar Publishing

Abstract: For establishing a just society, Islam prescribes many policies in the entire orbit of the economy. Commercial financial institutions would make changes in their operations to ensure justice. Public policies would enforce property rights, honesty in business, and performance auditing in public sector transactions. The law of zakah would help ameliorate poverty and equalise economic imbalances. The Islamic state would use other taxes also as a tool for social justice. It will fight racial injustice, adopt land reforms, implement the Islamic law of inheritance, fight corruption, and bridge the digital divide. It will also cooperate with other nations to establish international justice and fair global trading, protect the environment, honour intellectual property rights, and promote intergenerational justice.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2024
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