Macro Consumption Function in an Islamic Framework by Fahim Khan: Comments

Zubair Hasan

MPRA Paper from University Library of Munich, Germany

Abstract: This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income determination. Transfer of income to the poor via zakah will reduce the saving potential of the economy. To what extent this will be neutralized by the rich abstaining from frivolous spending due to the fear of God is uncertain. Hence the macro model of the author to demonstrate the superiority of the Islamic system is not convincing.

Keywords: Islam and consumption; zakah; israf (search for similar items in EconPapers)
JEL-codes: D11 E2 (search for similar items in EconPapers)
Date: 1985
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Citations: View citations in EconPapers (3)

Published in JKAU: Islamic Economics, Jeddah 2.2(1985): pp. 79-81

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