 Macroeconomics: an Islamic PerspectiveMPRA Paper from University Library of Munich, Germany Abstract: Islamic economics as a distinct school of thought within economics, studies the rationale and consequences of the resulting decisions. Naturally, Islamic economics does not have to be distinct in every aspect from its mother discipline. Islamic and conventional economics share several areas of behavioral analysis. However, the area of macroeconomics appears to be a good ground to develop distinct foundations. This is another step towards offering more general, yet less cryptic description of the major behavioral functions, especially those of saving, investment, money supply, and demand. At this stage, the target is to scrutinize the characteristics of macroeconomic equilibrium in an Islamic framework and ascertain its policy implications. The ultimate objective of laying the foundations of Islamic macroeconomics still requires further work. The specification of explicit introduction of consumers’ behavior is one area. The mathematical derivation of equilibrium and its stability conditions is another. All what can be said at this s age is that few more steps have been taken and there is more to come. Keywords: macroeconomics; money; finance; saving; investment; money demand; money supply; money creation; equilibrium; public finance; Zakah; Awqaf; financial markets; stability. (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:pra:mprapa:66938 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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