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The Application of Islamic Thought to Economic Policy Making in a Threatened World تطبيق الفكر الإسلامي في صياغة السياسات الاقتصادية في عالم يعيش على الحَافَّة

Author

Listed:
  • Rodney Wilson

    (Emeritus Professor, Durham University, UK)

Abstract

The twin threats of uncontrollable disease and global warming are causing economists to rethink their research agendas. From an Islamic perspective, these threats pose moral challenges that must be addressed. More focus on how economic policy can best provide a way forward is warranted. While it is correct to stress the differences in approach between Islamic and conventional economics, in present circumstances it is more urgent to work on policy areas. How can recovery from the COVID-19 pandemic be managed, and will inadequate access to vaccines penalize the poor further? If the planet itself becomes degraded, does mankind have a future? An appropriate allocation of Islamic finance can contribute to solutions, but a spirit of international economic cooperation is needed إن التَّهديدات المزدوجة التي تمر بها المُجتمعات البشرية هذه الأيام؛ المتمثلة في مرض لا يُمكن السَّيطرة عليه -كما يبدو إلى الآن-، والاحتباس الحراري يدفع الاقتصاديين إلى إعادة التفكير في جدول أعمالهم البحثية. من منظور إسلامي، تُشَكِّل هذه التهديدات تحديات أخلاقية يجب مُعالجتها. هناك ما يبرر المزيد من التركيز على الكيفية التي يمكن أن توفر بها السياسة الاقتصادية أفضل طريقة للمضي قدمًا. في حين أنه من الصحيح التأكيد على الاختلافات في المَنهج بين الاقتصاد الإسلامي والاقتصاد التقليدي، إلا أَنه في ظلِّ الظروف الحالية من الأهمية بمكان تناول السياسات الاقتصادية التي من شأنها أن تُخفف من آثار هذا الوضع: كيف يمكن إدارة التعافي من جائحة كوفيد-19؟ وهل سيؤدي عدم كفاية الوصول إلى اللقاحات إلى زيادة معاقبة الفقراء؟ إذا تدهورت الأوضاع البيئية في كوكب الأرض فهل تملك البشرية مستقبلاً إذا لم تكن لديها السياسات والأدوات المُناسبة لمواجهة ذلك؟ يعتقد معدُّ هذه الورقة أن التطبيق المناسب للتمويل الإسلامي يُمكن أن يُسهم في إيجاد الحلول، ولكن هناك حاجة ماسة إلى تعاون اقتصادي حقيقي على المستوى الدُّولي.

Suggested Citation

  • Rodney Wilson, 2021. "The Application of Islamic Thought to Economic Policy Making in a Threatened World تطبيق الفكر الإسلامي في صياغة السياسات الاقتصادية في عالم يعيش على الحَافَّة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 34(2), pages 157-162, July.
  • Handle: RePEc:abd:kauiea:v:34:y:2021:i:2:no:11:p:157-162
    DOI: 10.4197/Islec.34-2.11
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    References listed on IDEAS

    as
    1. Asad Zaman, 2021. "Islamic Alternatives to the Secular Morality Embedded in Modern Economics البدائل الإسلامية للأخلاقيات العلمانية المُتضمنة في الاقتصاد الحديث," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 34(2), pages 83-100, July.
    2. Hafas Furqani, 2017. "Consumption and Morality: Principles and Behavioral Framework in Islamic Economics الاستهلاك والأخلاق: المبادئ والإطار السلوكي في الاقتصاد الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 30(SI), pages 89-102, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Islamic economics; Economic policy; Pandemics; Climate change. الاقتصاد الإسلامي، السياسة الاقتصادية، الأوبئة، تغير المناخ.;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • P49 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Other
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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