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Wages in an Islamic economy: a literature survey

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  • Toseef Azid

Abstract

In fixing the price of labour as a factor of production, Islamic economics considers all the general normative principles which are based on fairness and equity in distribution and justice. In addition, the concept of brotherhood strengthens the relationship between employees and employers and protects the rights and interests of both parties. Similarly, the process of fixing wages follows the same normative principles and minimises the harm while avoiding the exploitation on both sides, i.e., employees and employers. The main objective of the current study is to survey the literature related to the concept of wages in the context of Islam. For this objective, we seek the guidance from Qur'an and Sunnah of Prophet Muhammad (PBUH), as well as from the research of Muslim scholars such as Ibn Taymiyyah, Ibn Khaldun, Al Ghazalai, Ibn Qayyam, and others.

Suggested Citation

  • Toseef Azid, 2016. "Wages in an Islamic economy: a literature survey," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 7(3), pages 268-282.
    • Handle: RePEc:ids:ijplur:v:7:y:2016:i:3:p:268-282
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    Cited by:

    1. Necati Aydin & Aljawhara Ibrahim Alquayid, 2019. "Market Reality Versus Religious Morality: Empirical Evidence from the Saudi Arabian Labor Market," Journal of Business Ethics, Springer, vol. 156(3), pages 679-698, May.

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