Role of the state in the economy: an Islamic perspective

In a time when state management seems to have failed us and the market is looked upon as an alternative to rely on, another choice, the 'middle road', is offered by Islam. It calls for a balanced partnership between the state and the market. This book is divided into five chapters each discussing different aspects of the state's role in the economy. Each topic is given an introduction and is ended with a conclusion. After discussing the position of the state in an Islamic economy, the first chapter addresses the idea of guaranteeing a minimum level of living in an Islamic State. Dr. Siddiqi then discusses public expenditure and how to control it, followed by an examination of public borrowing in early Islamic history. In the fourth chapter, Dr. Siddiqi moves on to a broader picture where he studies the international economic relations in Islam. The last chapter addresses the role of the voluntary sector in Islam, that is, how altruism is a conceptual framework. This book contains a bib