Tuesday, September 20, 2016

Islamic economic system: from principles to microeconomics and macroeconomics fields (68)

Continuation
According to the recent economists of the third world, sharecropping is not a good arrangement of land use in the agricultural sector.
Ibn Taimiyyah (1263-1328) emphasised that everybody must be guaranteed a minimum standard of living in order to be able to:
§  perform his obligations to his family;
§  fellow people as well as duties to the Creator.
He assigned a religious status to economic activities leading to economic development.
He stated that:
o   agricultural;
o   industrial;
o   and commercial
activities that are necessary for satisfying basic needs of the people.
One of his most important economic contributions is to emphasize the government's responsibility to guarantee fulfillment of basic needs to everybody.

Used from paper of Abdul Ghafar Ismail and  Noraziah Che Arshad

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