The Role of Zakah, the Islamic Quasi Wealth Tax, in Resource Allocation

Masudul Alam Choudhury
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Masudul Alam Choudhury: University College of Cape Breton

Chapter 5 in Contributions to Islamic Economic Theory, 1986, pp 51-71 from Palgrave Macmillan

Abstract: Abstract The main purpose of this chapter is to place the role of zakah in the context of resource allocation in perfect and imperfect market settings. The chapter is divided into three parts. In the first part the theoretical aspects of zakah induced resource allocation is discussed. In the second part the role of zakah in resource allocation is further studied with the help of a Social Service Model in the Islamic economy. In the third part the results of zakah-induced resource allocation are further empirically studied in a cost-benefit model with Saudi Arabian incomes data.

Keywords: Resource Allocation; Income Distribution; Saudi Arabia; Labour Force Participation; Social Welfare Function (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07728-1_6

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DOI: 10.1007/978-1-349-07728-1_6

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