Abstract
The validity of any system can be determined by the soundness of its principles
and its success can be determined by how effective and efficient it is in achieving
its stated goals in any given environment. What is the goal of any political
economy? Has today’s existing system satisfied the people? Or are the recurring
cyclical depressions and recessions inherent in the capitalist system taking its
toll? Does Islam have a system to offer that could possibly cater to the needs of
the modern times? What principles of political economics was the 2nd Caliph of
Islam following that created a community where there were no “poor” people
left? Can Islam really eradicate poverty? How is piety related to a political
economy? This paper will address the details of the Islamic Political Economy,
how it proved to be a successful model in the past and how it has become
relevant once again today
Muhammad Ahmed Qadri, Suwaibah Qadri. (2011) THE ISLAMIC POLITICAL ECONOMY VS THE CONVENTIONAL POLITICAL ECONOMY THEORY AND PRACTICE, Journal of Social Science and Humanities, Volume 50, Issue 1.
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