 A consumer and social welfare model based on the writings of Shibani (750-805 AD, 131-189 AH)PSL Quarterly Review, 2016, vol. 69, issue 278, 235-266 Abstract: The novelty of Shibani’s earning model is its integration of Zakat and other social giving in the social welfare function, which makes the consumer utility a multi-dimensional devotional, material, ethical, social, Shariah-compliant function. In the model, the consumer’s income evolves increasingly from imperative earning that covers consumer’s basic needs, to recommended earning that covers basic needs of relatives; and to permissible earning that covers the poor’s needs. Accordingly, the model has imperative, recommended, and permissible utility. The rich consumer draws additional utility from Zakat spending in favor of the poor consumers. Based on the social solidarity, we show that the marginal earning depends on the first difference between the MPC of lower and upper social groups. The permissible marginal utility is related to the faith interaction and enhances the social utility as social transfer is paid to poor and needy groups. Keywords: Consumer; Faith; Zakat; Imperative; Recommended; Permissible; Earning; Spending; Utility. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:psl:pslqrr:2016:32 Ordering information: This journal article can be ordered from DOI: 10.13133/2037-3643_69.278_2 Access Statistics for this article PSL Quarterly Review is currently edited by Alessandro Roncaglia and Carlo D'Ippoliti More articles in PSL Quarterly Review from Economia civile |
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