Wednesday, February 3, 2016

Islamic economic system: from principles to microeconomics and macroeconomics fields (13)

d. Economic Freedom
The authors write:
Every individual, according to Islam, is accountable for his actions done in this world.
He would be:
o   rewarded for his good actions;
o   and punished for his evil actions in the hereafter.
Accountability for individual’s actions is meaningless if the individual is not provided reasonable freedom to act independently.
Therefore, Islam puts highest value on individual’s freedom of action in every field of human activity such as:
§  social;
§  political;
§  economic;
§  religious;
§  moral, etc.

Used from paper of  Abdul Ghafar Ismail and  Noraziah Che Arshad

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