Economic framework of the Abrahamic religions

In this chapter the authors consider the views of Judaism, Christianity and Islam on economic behaviour, a topic which, if not new, is largely ignored in academic research. The Holy religions link material welfare with spiritual development of the community or society. In this aim, people are guided by various standards, rules and regulations designed to ensure economic well-being and justice in society. The authors’ starting point is to consider some general economic principles that underpin Judaism, Christianity and Islam. In this respect, they draw upon, and supplement with additional material, the pioneering analysis of Rodney Wilson (1997) in Economics, Ethics and Religion: Jewish, Christian and Muslim Economic Thought. Amongst the additional matters examined are the role of Judaism in the growth of capitalism and the nature of the discipline of Islamic economics. Then the authors explain the views of the religions on work, investments, inheritance laws, income from land, family welfare, compulsory charity, issues surrounding zakat, the problems of waqf, and the spread of the religions.