Abundance and Scarcity: Introduction

An enduring debate in the history of economic thought is that between the predominant paradigm of scarcity, on the one hand, and the alternative viewpoint of abundance, on the other. This intellectual discourse has important implications with respect to the general outlook of the discipline, its formative and substantive aspects, and the ensuing policy implications. Part 1 attempts to contribute a unique perspective to this debate, by examining the Islamic position on the notions of scarcity and abundance, and its implications with respect to modern economic theory and policy. We address these issues by examining Islamic scripture, traditions, and the views of past and contemporary Islamic theologians, exegetes, philosophers, and economists. We also examine interesting parallels and links with other religious and secular schools of economic thought.