TUM Library

Includes index.

Cover; Half Title; Series Page; Title Page; Copyright Page; Table of Contents; List of figures; List of tables; List of Contributors; Foreword; Preface; 1. Social justice in Islam: An introduction; Establishing the social justice in Islam; Social justice under the political system of Islam; Social justice in the economic system of Islam; Different dimensions of social justice; References; 2. A theory of justice in Islam; Background; Objective; Balance and moderation in the Tawhidi methodological worldview; Social justice in Islam according to Tawhidi methodological worldview

Justice as free good for well-beingElements of justice in Islam; An application of the theory of justice to states of peace caused by varying degrees of stability in complementary interrelations; Contrasting theories of justice (social justice); Conclusion; Notes; References; 3. Social justice, market, society and government: An Islamic perspective; Theory of social justice in conventional system; Function of market, government and society in conventional system; Complementarity of society, market and government in the Islamic framework; Conclusions; Notes; References

4. Contractual freedom, market and social justice: The "invisible hand" of God-man's agency relationship (khilafah and real)1. Introduction Islamic economics, God-man's agency relationship (khilafah) and real contractual/human freedom; 2. The "invisible hand" of the market economy: comparing the Western and Islamic conception of contractual/human freedom; 3. The social justice of khilafah in an Islamic economy: the market as ashared enterprise of mutual cooperation; 4. Conclusions. The "invisible hand" of khilafah: real contractual freedom, social justice and open issues of political economy

AcknowledgementsNotes; References; 5. How can Islamic banks achieve social justice?: Adiscourse; Literature review; Islamic banking principles and social justice; Islamic banking mechanisms toward social justice; Islamic banking role in social justice appraisal; Conclusion and recommendations; Notes; References; 6. Social aids and willingness to work: Developing asocial aid framework within the context of Islam; Types of social assistance programs; Lessons learned from past experiences; Social assistance and motivation to work; An Islamic prospect of social aid

Conclusion and some policy implicationsNotes; References; 7. The role of waqfs in socio-economic life in terms of poverty alleviation; Fighting against poverty: millennium development goals and contemporary efforts of IFIs for reducing poverty; Current situation in the world regarding poverty and income inequality, especially in Muslim countries; Premodern institutions for fighting against poverty in Muslim world: waqfs as asolution in poverty alleviation; The importance of waqfs in economic and social life; Sustainability; Conclusion; Note; References

Under the rule of the current economic order, social injustice is ever-increasing. Issues such as poverty, inhumane working conditions, inadequate wages, social insecurity and an unhealthy labor market continue to persist. Many states are also unable to produce policies capable of resolving these problems. The characteristics of the capitalist system currently render it unable to provide social justice. In fact, on the contrary, the system reinforces these injustices and prevents economic and social welfare from reaching the masses. Many Muslim scholars have analyzed and, indeed, criticized this system for years. This book argues that an alternative and more equitable theoretical and practical economical order can been developed within the framework of Islamic principles. On the other hand, the experiences of societies under the rule of Muslim governments do not always seem to hold great promise for an alternative understanding of social justice. In addition, the behaviors of Muslim individuals within their economic lives are mostly shaped by the necessities of daily economic conditions rather than by the tenets of Islam that stand with social justice. Until 1990s, studies of Islamic economics made connections between finance and the notion of social justice, but work conducted more recently has neglected this issue. It is therefore evident that the topic of social justice needs to be revisited in a more in-depth manner. Filling an important gap in existing literature, the book uniquely connects social justice and Islamic finance and economics on this topic. Theory, practice and key issues are presented simultaneously throughout this book, which is based on the writings of a number of eminent scholars.

OCLC-licensed vendor bibliographic record.