Wednesday, January 14, 2015

The theory of consumer behavior (7)

As a result maximizing self interest becomes the main objective people enter into economic exchanges.
Besides of that, this phenomenon leading up to the hedonism where people are encouraged:
§  to accumulate wealth;
§  and pursue prestige.
Rich people do not oblige to help the needy and the poor.
The gap between wealthy people and underprivileged eventually results to imbalance in the society.
Unlike mainstream economics, the worldview of Islamic system has centred on:
o   Tawhidic Paradigm that is believe in the oneness of Allah the Most Magnificent and Powerful;
o   and human beings are subjected to His judgment in the life hereafter.
The Muslims believe that they are always monitored by Allah and have to take full responsibility for their actions in this world.
to be continued...

Source: Islamic Science University of Malaysia

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