Saudi Arabia's Islamic growth model

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:08
Year
1982
Country
United States
Language
English
Abstract

It can be argued that the foundational principles of Islamic economics do not conflict with free enterprise and do not oppose fair gain as a principle for wealth distribution. The wealth distribution in Saudi Arabia came into being out of a number of situations unique to that land. These situations are: 1. The country's relatively short experience as a sovereign state and the great pool of resources held in the hands of the state; 2. The prevalence in the kingdom of the Wahabi school of Islamic thought, a school that can be deemed highly individualistic and highly orthodox; 3. The country's family-oriented approach to politics, to social life, and to economic life; and 4. The attempt by the Saudi government to build a model for the rest of the Islamic world. The results of the Saudi development approach--much economic expansion in a stable social and economic setting--prove that the Islamic growth model is not a poor one. Still, neighboring governments ought to exercise care in dra

English
ISSN/ISBN
0021-3624
No. of Pages
pp.453-459
Number
2
Volume
XVI
Select type of work
Name of the Journal
Author(s)
CIS Program Old
CIS publications
No
CIS Thesis
No