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Economic and Social Justice: The Policy Objective in Islam

In: Challenges in Economic and Financial Policy Formulation

Author

Listed:
  • Hossein Askari
  • Zamir Iqbal
  • Abbas Mirakhor

Abstract

Throughout the ages, one of the most important questions confronting mankind has been, “on what basis should economic resources be distributed?” The answer depends on the underlying concept of justice and fairness, which, in turn, depends on the belief system. In Islam, the concept of justice for humans is simple and unambiguous: justice is obtained when all things are placed where intended by the Creator and when everyone is given their rightful due.1 How are humans to know where the right (just) places is for everything and what is the rightful due for everyone? The answer: follow the rules prescribed by the Creator.2 By the instrumentality of His Walayah, the Loving Creator has provided all that is necessary for humans to achieve perfection of the human state. He has also clearly designated the path-to-perfection and has marked it with rules of behavior in all facets of human life. Rule-compliance assures justice, which assures balance for individuals and for society. Compliance with rules guarantees that humans draw closer to their ultimate objective, namely, their Creator. Morality is a result of just behavior, that is, rule-compliant behavior. Undoubtedly, justice is seen as a supreme virtue: “O you who believe, be upright for Allah, and (be) bearers of witness with justice!…” (Quran 5:8) And “…the Word of your Lord has been fulfilled in truth and in justice. None can change His Words.”

Suggested Citation

  • Hossein Askari & Zamir Iqbal & Abbas Mirakhor, 2014. "Economic and Social Justice: The Policy Objective in Islam," Palgrave Studies in Islamic Banking, Finance and Economics, in: Challenges in Economic and Financial Policy Formulation, chapter 0, pages 31-46, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-1-137-38199-6_3
    DOI: 10.1057/9781137381996_3
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