This document provides an overview of economic justice in Islam. It discusses the three principles of economic justice in Islam: participative justice, distributive justice, and social justice. Social justice in Islam includes equitable distribution of wealth, provision of basic necessities for the poor and needy, and protection of the weak from economic exploitation by the strong. The foundations of Islamic social justice are outlined based on verses from the Quran and hadiths. Elements of social justice in Islam, such as measures to ensure fair distribution of wealth and provision of social security, are then explained in more detail.
The document discusses John Rawls' difference principle, which is a cornerstone of his political philosophy. The difference principle permits inequalities in the distribution of social goods as long as they benefit society's least advantaged members. It plays a key role in Rawls' philosophy by distributing primary goods in a way that stimulates social cooperation and stability. The difference principle is one part of Rawls' broader advocacy for liberal egalitarianism and takes a subordinate role to his principles of liberty and fair equality of opportunity. Rawls argues the difference principle would be chosen in his hypothetical original position scenario because it best satisfies the maximin decision rule of improving the conditions of the worst off.
John Rawls' A Theory of Justice proposes principles of justice to structure an ideal society. Rawls argues that rational individuals in an original position of equality, without knowledge of their social status, would agree to two principles: 1) Equal liberty as long as it doesn't infringe on others' liberty, and 2) Social and economic inequalities must benefit all and be open to all. Rawls believes these principles derived from a social contract theory provide a stronger basis for equality than utilitarianism by denying that infringing basic rights can be justified by greater benefits for more people. He defines justice as fairness under these fair and impartial conditions.
John Rawls (1921-2002) was a hugely influential US philosopher known for attempting to reconcile liberal beliefs in freedom with the need to prevent excessive inequality in society. His best known work, A Theory of Justice (1972), proposed a thought experiment where people create a just society from behind a "veil of ignorance" without knowing their place in it. Rawls argued this would lead people to choose principles guaranteeing equal rights, respect for all, and a minimum standard of living so that the worst off are not below a certain level, even if this requires some inequalities. He called this the "difference principle."
The document provides an overview of Islam as a complete way of life. It discusses Islam as an ideology consisting of a creed and system of rules. The Islamic creed establishes the existence of Allah as the one and only Creator through rational examination of the universe. It also establishes the necessity of prophethood and that the Quran is the final revelation from Allah through the prophet Muhammad. The system of Islam provides comprehensive laws governing relationships with the Creator, individuals, and society. The document presents Islam as offering solutions to modern problems that other ideologies have failed to resolve.
The document discusses criticisms of capitalism and proposals for alternatives. It summarizes that while capitalism has created value, the current system is seen as decadent and lacking social responsibility. Several alternatives are proposed, such as cooperative economies and hybrid models, but questions remain about scaling them up and balancing economic and social concerns. The document concludes that an "Indian approach" that incorporates traditional values like philanthropy and sustainability may be needed to develop a better version of capitalism.
This document discusses different types of justice through Catholic teachings and biblical references. It addresses social justice, distributive justice, and contributive justice. A just person is described as someone who cares for others, stands up for the voiceless, and risks their own safety for the freedom of others.
The document discusses corporate social responsibility across three parts. Part one analyzes whether capitalism can lead to human happiness. Both the advantages of private ownership and competition are discussed, as well as the potential disadvantages. Part two examines the issue of managing risks associated with derivatives. The final part discusses whether price gouging should be regulated, outlining arguments on both sides of the issue. Overall, the document provides a nuanced look at different aspects of corporate social responsibility and considers arguments from multiple perspectives.
The document discusses John Rawls' difference principle, which is a cornerstone of his political philosophy. The difference principle permits inequalities in the distribution of social goods as long as they benefit society's least advantaged members. It plays a key role in Rawls' philosophy by distributing primary goods in a way that stimulates social cooperation and stability. The difference principle is one part of Rawls' broader advocacy for liberal egalitarianism and takes a subordinate role to his principles of liberty and fair equality of opportunity. Rawls argues the difference principle would be chosen in his hypothetical original position scenario because it best satisfies the maximin decision rule of improving the conditions of the worst off.
John Rawls' A Theory of Justice proposes principles of justice to structure an ideal society. Rawls argues that rational individuals in an original position of equality, without knowledge of their social status, would agree to two principles: 1) Equal liberty as long as it doesn't infringe on others' liberty, and 2) Social and economic inequalities must benefit all and be open to all. Rawls believes these principles derived from a social contract theory provide a stronger basis for equality than utilitarianism by denying that infringing basic rights can be justified by greater benefits for more people. He defines justice as fairness under these fair and impartial conditions.
John Rawls (1921-2002) was a hugely influential US philosopher known for attempting to reconcile liberal beliefs in freedom with the need to prevent excessive inequality in society. His best known work, A Theory of Justice (1972), proposed a thought experiment where people create a just society from behind a "veil of ignorance" without knowing their place in it. Rawls argued this would lead people to choose principles guaranteeing equal rights, respect for all, and a minimum standard of living so that the worst off are not below a certain level, even if this requires some inequalities. He called this the "difference principle."
The document provides an overview of Islam as a complete way of life. It discusses Islam as an ideology consisting of a creed and system of rules. The Islamic creed establishes the existence of Allah as the one and only Creator through rational examination of the universe. It also establishes the necessity of prophethood and that the Quran is the final revelation from Allah through the prophet Muhammad. The system of Islam provides comprehensive laws governing relationships with the Creator, individuals, and society. The document presents Islam as offering solutions to modern problems that other ideologies have failed to resolve.
The document discusses criticisms of capitalism and proposals for alternatives. It summarizes that while capitalism has created value, the current system is seen as decadent and lacking social responsibility. Several alternatives are proposed, such as cooperative economies and hybrid models, but questions remain about scaling them up and balancing economic and social concerns. The document concludes that an "Indian approach" that incorporates traditional values like philanthropy and sustainability may be needed to develop a better version of capitalism.
This document discusses different types of justice through Catholic teachings and biblical references. It addresses social justice, distributive justice, and contributive justice. A just person is described as someone who cares for others, stands up for the voiceless, and risks their own safety for the freedom of others.
The document discusses corporate social responsibility across three parts. Part one analyzes whether capitalism can lead to human happiness. Both the advantages of private ownership and competition are discussed, as well as the potential disadvantages. Part two examines the issue of managing risks associated with derivatives. The final part discusses whether price gouging should be regulated, outlining arguments on both sides of the issue. Overall, the document provides a nuanced look at different aspects of corporate social responsibility and considers arguments from multiple perspectives.
This document discusses the economic role of the state in Islam according to Islamic scholars and principles. It covers four main sections:
1. The Islamic state's function is to continue the role of prophethood by safeguarding religion and managing worldly affairs according to Sharia. This gives the state responsibilities for both worldly and afterlife interests of citizens.
2. The state's priorities are protecting religion and upholding God's word over national interests or welfare. Economically, priorities are production in areas enhancing society/state's ability to defend Muslims/spread Islam.
3. The state aims to fulfill economic objectives like ensuring basic needs and opportunities through tools like the public sector, private sector promotion, fiscal and
This document discusses four main theories related to health care: egalitarian theories, utilitarian theories, libertarian theories, and theories of justice. Egalitarian theories emphasize equal access to goods and services and providing universal health care. Utilitarian theories focus on maximizing public utility through political intervention and wealth redistribution. Libertarian theories emphasize personal rights to liberty. The document also discusses Daniel Callahan's natural life span argument and principles for limiting medical care after a natural life span.
The document discusses the concepts of horizontal and vertical equity and how they relate to distributive justice as required by Islam. [1] Vertical equity is equivalent to the principle of productivity in Islam, meaning those who contribute more through labor or skills should be rewarded accordingly. [2] It is also similar to the principle of needs in Islam, where those unable to meet basic needs due to insufficient income are assisted. [3] Horizontal equity corresponds to recognizing individual abilities and contributions, as opposed to socialism's denial of individual ownership and rewards not based on productivity.
Karl Marx criticized free markets and free trade on several grounds. He argued that capitalist systems only provide two sources of income that alienate workers from their labor. Private ownership of the means of production causes workers to lose control over their work, products, relationships and selves. According to Marx's theory of historical materialism, the methods used to produce goods determine a society's social classes. Marx believed this system would lead to immiseration of the working class and that the only solution was a classless society with common ownership of production.
This document presents an overview of how Islam provides guidance for all aspects of life, including personal, family, social, economic, political, international, cultural, and educational life. It discusses Islamic principles for each of these areas, such as purity and proper behavior in personal life, marriage and family rights and responsibilities, honesty and justice in economic life, equality and kindness toward all in social life, sovereignty belonging to God in political life, respect for other people's interests and just causes for war in international life, and education being based on religious teachings from the Quran and Hadith. The document aims to demonstrate that Islam is a complete code of life that provides direction for individuals and societies.
This document discusses the topic of social justice from a Catholic perspective. It begins by summarizing a Gospel passage where Jesus warns his followers that they will face persecution for preaching in his name. It then explores different definitions of justice, including commutative, distributive, contributive/legal, and social justice. It examines the types of justice through the lens of Catholic social teaching. Finally, it considers definitions of social justice and discusses the relationship between justice and love.
This document provides a summary of chapter 3 from a book on justice and economic distribution. It outlines three major views on this topic: the utilitarian view, libertarian view, and Rawls' view. The utilitarian view aims to maximize overall happiness and favors equality. The libertarian view, as expressed by Nozick, emphasizes individual liberty and entitlement to holdings through just acquisition and transfer. Rawls' view uses a hypothetical "original position" and "veil of ignorance" to derive two principles of justice: equal basic liberties and social/economic inequalities only if they benefit the least advantaged.
The document discusses John Rawls' theory of justice as fairness. It explains that under the original position, people behind a veil of ignorance would agree to two principles: 1) Equal liberty for all and 2) Social and economic inequalities must benefit society's least well-off and arise from fair equality of opportunity. The difference principle holds that redistribution of wealth is justified if it improves the situation of the worst-off group. The document provides a simplified example comparing utilitarian, egalitarian, and Rawlsian approaches to distributing resources between two people.
The document outlines several schools of thought within the conflict perspective on deviance and crime. [1] Structural Marxist theorists view crime and deviance as resulting from social and economic conflict between social classes. [2] Instrumental theorists see criminals as revolutionaries against systems of racism, sexism, and profiteering. [3] Radical theorists argue that the capitalist economic system intensifies disadvantages and increases deviance as the lower classes attempt to attain wealth.
This document discusses the economic system of Islam. It covers several key topics:
1) The real economic problem faced by man, the causes of evils in economic systems, and the Islamic solution compared to fascist and communist solutions.
2) Economic precepts from the Quran including basic facts, rules around zakat (charity) and its rate, rules of inheritance, and distinguishing lawful from unlawful means of earning wealth.
3) The objectives and principles of an Islamic economic organization, including individual freedom, harmony in moral and material development, and establishing cooperation and justice.
1) Education plays a central role in promoting social justice and equality according to different political ideologies, though there are differing views on how to achieve this.
2) Social justice refers to a fair distribution of goods and equal opportunities for all citizens to succeed according to left-leaning political theory, influenced by John Rawls' view of balancing individual freedom and social equality.
3) There are three principles of justice - harmony through supporting different talents, equity by ensuring equal opportunities and redistributing wealth to the least advantaged, and equality through equal treatment though outcomes may differ.
MANAGERIAL ECONOMICS FROM ISLAMIC PERSPECTIVES (PROFIT MAXIMIZATION)Afifah Nabilah
An individual assignment for Managerial Economics subject. The topic discussed in the report is MANAGERIAL ECONOMICS FROM ISLAMIC PERSPECTIVES on the Profit Maximization.
This document was developed by Corporate Excellence – Centre for Reputation Leadership and among other sources contains references to the statements made by Federico Mayor Zaragoza, Chairman of the Scientific Council at Fundación Ramón Areces; Adela Cortina, Professor at the University of Valencia; José Luis Monzón, President of CIRIEC; Charles Fombrun, PChairman at Reputation Institute and José Manuel Pérez Díaz-Pericles,Founder of the training project Entrepreneurship Training Chain, during the semminary Economía y valores that took place in Madrid, on February 19 and 20, 2015.
In the institutional area, the academic field and private sector a new framework is demanded for economy to grow and develop itself and to give more importance to objectives of sustainable growth for the long-term, including issues of general interest both for companies and stakeholders. Ethics seem to be the backbone of a new system based on two big pillars: social and environmental ethics, able to develop an efficient economic system, which is favourable to business development and investments.
New Institutional Economics (NIE) doesn't mean to break away from the market economy but to apply new formulas to solve problems arising from it.
Institutions need to be able to guarantee social justice, environmental sustainability and long-term economic growth. The current economic scenario and institutional crisis turns the spotlight on legitimizing those institutions that will have to make considerable further efforts to respond to the interests and demands of everyone, companies and citizens.
The current context of social economy represents a useful tool that includes ethical principles to the business plan, so that the company stakeholders perceive the actions of the organization as something positive and favourable for the context where it happens. It is true that the model suggested by social economy can't be completely transposed to capital companies but it can add value to the business model through human resources and corporate social responsibility policies.
In the current scenario, both companies and citizens are required to create new models of ethical leadership. Nowadays, states have lost influence in favour of civil society. The current position of companies and citizens is critical as a way out of the crisis. Thus, it is fundamental to take new responsibilities based on their new role.
Citizens must assume this responsibility and adopt such values as solidarity, respect and, specially, dialogue.
It is impossible to apprehend the full complexity of the transformative power of current citizenry without understanding the key elements of this new context: the reputation economy, a context where people pay more and more attention to the companies that are behind the products and services they consume. In this sense, reputation management becomes the management of the relationship with the company's stakeholders.
The solution of Brazil's ethical and moral crisis is the key to overcoming the economic crisis, which threatens to bring the country into bankruptcy in 2020, when the internal public debt will correspond to 100% of GDP, be overcome the social crisis that present 14 million unemployed people and the crime rate that is not higher only those of El Salvador, Guatemala and Venezuela in the world, be eliminated the political crisis that advances with the growing divorce between the State and Civil Society that jeopardizes governability.
Preventing corruption in Nigeria: The relevance of the Islamic approach and t...Imam-Tamim Esq.
This document discusses approaches to combating corruption in Nigeria from both a legal and Islamic perspective. It summarizes that corruption undermines society by promoting a "national cake mentality" and stunting economic development. Both the Nigerian legal system and Sharia emphasize preventing corruption, with Sharia focusing on institutions like hisbah to correct citizens, zakat to reduce poverty, and mazaalim to address complaints against officials. The author recommends Nigeria fight corruption through a collective action approach and institutionalizing Islamic mechanisms like zakat and waqf funds while removing immunity clauses. The Muslim youth are urged to help enforce righteousness and prohibit corruption through cooperation and peaceful advocacy.
This document outlines Catholic social teaching on economic justice and frameworks for economic life according to Catholic principles. It discusses how economies should protect human dignity, support families and serve the common good. It also addresses the rights of all people to economic opportunity and basic necessities, as well as responsibilities. Free markets, government, and voluntary groups all have roles to play, and decisions should protect human life and rights.
what is politics? what are the types?politics in global perceptivePower? Types of political parties theoretical perceptive of Power. Power and EconomyPower and WarPower beyond the linesPolitics in Pakistan and in U.S.
Social justice refers to achieving fairness and impartial treatment in all aspects of society rather than just through legal systems. It involves fair distribution of benefits and burdens. There are differing views on what constitutes fairness. Ensuring social justice is both a philosophical and political issue with differing ideological views on creating a just society through policies around equality of opportunity and outcome. Throughout history, civilizations have sought to establish just systems of law and order to provide both structure and a sense of responsibility to populations. Early Hebrew and Greek/Roman systems focused on principles of justice for all as a foundation for modern Western legal protections of societal order and the common good.
Copy of Social justice, sometimes called civi...Praveen Sudarsan
Social justice refers to achieving fairness and impartial treatment in all aspects of society rather than just through legal systems. It involves fair distribution of advantages and disadvantages. There are differing views on what constitutes a just society. Throughout history, civilizations have sought to create fair and equal justice systems to establish social order and responsibility. Early legal systems from the Hebrews, Greeks and Romans focusing on principles like "an eye for an eye" and trials by peers, which modern Western justice systems are built upon. However, achieving a truly just society where violence, injustice and greed are absent has proven difficult.
The document provides an overview of the US economic system. It discusses that the US has a mixed economy, with private industry playing a major role but the government still influencing economic activity. It also summarizes US trade, noting that the US has many free trade agreements globally and is both a major importer and exporter. The recovery of the US economy will rely on services, natural resources, and its large population.
This document discusses the economic role of the state in Islam according to Islamic scholars and principles. It covers four main sections:
1. The Islamic state's function is to continue the role of prophethood by safeguarding religion and managing worldly affairs according to Sharia. This gives the state responsibilities for both worldly and afterlife interests of citizens.
2. The state's priorities are protecting religion and upholding God's word over national interests or welfare. Economically, priorities are production in areas enhancing society/state's ability to defend Muslims/spread Islam.
3. The state aims to fulfill economic objectives like ensuring basic needs and opportunities through tools like the public sector, private sector promotion, fiscal and
This document discusses four main theories related to health care: egalitarian theories, utilitarian theories, libertarian theories, and theories of justice. Egalitarian theories emphasize equal access to goods and services and providing universal health care. Utilitarian theories focus on maximizing public utility through political intervention and wealth redistribution. Libertarian theories emphasize personal rights to liberty. The document also discusses Daniel Callahan's natural life span argument and principles for limiting medical care after a natural life span.
The document discusses the concepts of horizontal and vertical equity and how they relate to distributive justice as required by Islam. [1] Vertical equity is equivalent to the principle of productivity in Islam, meaning those who contribute more through labor or skills should be rewarded accordingly. [2] It is also similar to the principle of needs in Islam, where those unable to meet basic needs due to insufficient income are assisted. [3] Horizontal equity corresponds to recognizing individual abilities and contributions, as opposed to socialism's denial of individual ownership and rewards not based on productivity.
Karl Marx criticized free markets and free trade on several grounds. He argued that capitalist systems only provide two sources of income that alienate workers from their labor. Private ownership of the means of production causes workers to lose control over their work, products, relationships and selves. According to Marx's theory of historical materialism, the methods used to produce goods determine a society's social classes. Marx believed this system would lead to immiseration of the working class and that the only solution was a classless society with common ownership of production.
This document presents an overview of how Islam provides guidance for all aspects of life, including personal, family, social, economic, political, international, cultural, and educational life. It discusses Islamic principles for each of these areas, such as purity and proper behavior in personal life, marriage and family rights and responsibilities, honesty and justice in economic life, equality and kindness toward all in social life, sovereignty belonging to God in political life, respect for other people's interests and just causes for war in international life, and education being based on religious teachings from the Quran and Hadith. The document aims to demonstrate that Islam is a complete code of life that provides direction for individuals and societies.
This document discusses the topic of social justice from a Catholic perspective. It begins by summarizing a Gospel passage where Jesus warns his followers that they will face persecution for preaching in his name. It then explores different definitions of justice, including commutative, distributive, contributive/legal, and social justice. It examines the types of justice through the lens of Catholic social teaching. Finally, it considers definitions of social justice and discusses the relationship between justice and love.
This document provides a summary of chapter 3 from a book on justice and economic distribution. It outlines three major views on this topic: the utilitarian view, libertarian view, and Rawls' view. The utilitarian view aims to maximize overall happiness and favors equality. The libertarian view, as expressed by Nozick, emphasizes individual liberty and entitlement to holdings through just acquisition and transfer. Rawls' view uses a hypothetical "original position" and "veil of ignorance" to derive two principles of justice: equal basic liberties and social/economic inequalities only if they benefit the least advantaged.
The document discusses John Rawls' theory of justice as fairness. It explains that under the original position, people behind a veil of ignorance would agree to two principles: 1) Equal liberty for all and 2) Social and economic inequalities must benefit society's least well-off and arise from fair equality of opportunity. The difference principle holds that redistribution of wealth is justified if it improves the situation of the worst-off group. The document provides a simplified example comparing utilitarian, egalitarian, and Rawlsian approaches to distributing resources between two people.
The document outlines several schools of thought within the conflict perspective on deviance and crime. [1] Structural Marxist theorists view crime and deviance as resulting from social and economic conflict between social classes. [2] Instrumental theorists see criminals as revolutionaries against systems of racism, sexism, and profiteering. [3] Radical theorists argue that the capitalist economic system intensifies disadvantages and increases deviance as the lower classes attempt to attain wealth.
This document discusses the economic system of Islam. It covers several key topics:
1) The real economic problem faced by man, the causes of evils in economic systems, and the Islamic solution compared to fascist and communist solutions.
2) Economic precepts from the Quran including basic facts, rules around zakat (charity) and its rate, rules of inheritance, and distinguishing lawful from unlawful means of earning wealth.
3) The objectives and principles of an Islamic economic organization, including individual freedom, harmony in moral and material development, and establishing cooperation and justice.
1) Education plays a central role in promoting social justice and equality according to different political ideologies, though there are differing views on how to achieve this.
2) Social justice refers to a fair distribution of goods and equal opportunities for all citizens to succeed according to left-leaning political theory, influenced by John Rawls' view of balancing individual freedom and social equality.
3) There are three principles of justice - harmony through supporting different talents, equity by ensuring equal opportunities and redistributing wealth to the least advantaged, and equality through equal treatment though outcomes may differ.
MANAGERIAL ECONOMICS FROM ISLAMIC PERSPECTIVES (PROFIT MAXIMIZATION)Afifah Nabilah
An individual assignment for Managerial Economics subject. The topic discussed in the report is MANAGERIAL ECONOMICS FROM ISLAMIC PERSPECTIVES on the Profit Maximization.
This document was developed by Corporate Excellence – Centre for Reputation Leadership and among other sources contains references to the statements made by Federico Mayor Zaragoza, Chairman of the Scientific Council at Fundación Ramón Areces; Adela Cortina, Professor at the University of Valencia; José Luis Monzón, President of CIRIEC; Charles Fombrun, PChairman at Reputation Institute and José Manuel Pérez Díaz-Pericles,Founder of the training project Entrepreneurship Training Chain, during the semminary Economía y valores that took place in Madrid, on February 19 and 20, 2015.
In the institutional area, the academic field and private sector a new framework is demanded for economy to grow and develop itself and to give more importance to objectives of sustainable growth for the long-term, including issues of general interest both for companies and stakeholders. Ethics seem to be the backbone of a new system based on two big pillars: social and environmental ethics, able to develop an efficient economic system, which is favourable to business development and investments.
New Institutional Economics (NIE) doesn't mean to break away from the market economy but to apply new formulas to solve problems arising from it.
Institutions need to be able to guarantee social justice, environmental sustainability and long-term economic growth. The current economic scenario and institutional crisis turns the spotlight on legitimizing those institutions that will have to make considerable further efforts to respond to the interests and demands of everyone, companies and citizens.
The current context of social economy represents a useful tool that includes ethical principles to the business plan, so that the company stakeholders perceive the actions of the organization as something positive and favourable for the context where it happens. It is true that the model suggested by social economy can't be completely transposed to capital companies but it can add value to the business model through human resources and corporate social responsibility policies.
In the current scenario, both companies and citizens are required to create new models of ethical leadership. Nowadays, states have lost influence in favour of civil society. The current position of companies and citizens is critical as a way out of the crisis. Thus, it is fundamental to take new responsibilities based on their new role.
Citizens must assume this responsibility and adopt such values as solidarity, respect and, specially, dialogue.
It is impossible to apprehend the full complexity of the transformative power of current citizenry without understanding the key elements of this new context: the reputation economy, a context where people pay more and more attention to the companies that are behind the products and services they consume. In this sense, reputation management becomes the management of the relationship with the company's stakeholders.
The solution of Brazil's ethical and moral crisis is the key to overcoming the economic crisis, which threatens to bring the country into bankruptcy in 2020, when the internal public debt will correspond to 100% of GDP, be overcome the social crisis that present 14 million unemployed people and the crime rate that is not higher only those of El Salvador, Guatemala and Venezuela in the world, be eliminated the political crisis that advances with the growing divorce between the State and Civil Society that jeopardizes governability.
Preventing corruption in Nigeria: The relevance of the Islamic approach and t...Imam-Tamim Esq.
This document discusses approaches to combating corruption in Nigeria from both a legal and Islamic perspective. It summarizes that corruption undermines society by promoting a "national cake mentality" and stunting economic development. Both the Nigerian legal system and Sharia emphasize preventing corruption, with Sharia focusing on institutions like hisbah to correct citizens, zakat to reduce poverty, and mazaalim to address complaints against officials. The author recommends Nigeria fight corruption through a collective action approach and institutionalizing Islamic mechanisms like zakat and waqf funds while removing immunity clauses. The Muslim youth are urged to help enforce righteousness and prohibit corruption through cooperation and peaceful advocacy.
This document outlines Catholic social teaching on economic justice and frameworks for economic life according to Catholic principles. It discusses how economies should protect human dignity, support families and serve the common good. It also addresses the rights of all people to economic opportunity and basic necessities, as well as responsibilities. Free markets, government, and voluntary groups all have roles to play, and decisions should protect human life and rights.
what is politics? what are the types?politics in global perceptivePower? Types of political parties theoretical perceptive of Power. Power and EconomyPower and WarPower beyond the linesPolitics in Pakistan and in U.S.
Social justice refers to achieving fairness and impartial treatment in all aspects of society rather than just through legal systems. It involves fair distribution of benefits and burdens. There are differing views on what constitutes fairness. Ensuring social justice is both a philosophical and political issue with differing ideological views on creating a just society through policies around equality of opportunity and outcome. Throughout history, civilizations have sought to establish just systems of law and order to provide both structure and a sense of responsibility to populations. Early Hebrew and Greek/Roman systems focused on principles of justice for all as a foundation for modern Western legal protections of societal order and the common good.
Copy of Social justice, sometimes called civi...Praveen Sudarsan
Social justice refers to achieving fairness and impartial treatment in all aspects of society rather than just through legal systems. It involves fair distribution of advantages and disadvantages. There are differing views on what constitutes a just society. Throughout history, civilizations have sought to create fair and equal justice systems to establish social order and responsibility. Early legal systems from the Hebrews, Greeks and Romans focusing on principles like "an eye for an eye" and trials by peers, which modern Western justice systems are built upon. However, achieving a truly just society where violence, injustice and greed are absent has proven difficult.
The document provides an overview of the US economic system. It discusses that the US has a mixed economy, with private industry playing a major role but the government still influencing economic activity. It also summarizes US trade, noting that the US has many free trade agreements globally and is both a major importer and exporter. The recovery of the US economy will rely on services, natural resources, and its large population.
The document discusses the economic system in Islam. It states that Islam provides guidelines for all spheres of life, including economics. The Islamic economic system aims to establish a just society where people behave honestly and responsibly in their transactions. It recognizes private, collective, and state possession of wealth. Some key principles of the Islamic economic system are that earnings and spending must be through halal means, individuals have a right to property with limits to ensure societal benefit, payment of zakat is compulsory to help the poor, and transactions involving interest are prohibited.
Management EthicsEthics, Diversity and Organizational .docxtienboileau
Management Ethics
Ethics, Diversity and Organizational Culture
Age and Cultural Diversity can make Business Ethics stumble
With MULTIPLE generations now in the workforce, many employers have embraced age and cultural diversity initiatives with an objective of creating create an all-inclusive workplace. However, cultural diversity can give rise to ethical issues that can be challenging for managers and employees to resolve.
Religious Differences
Gender Issues (more women in work force than ever before)
Hiring Decisions
General Business Practices
Age differential
As a group, please come up with one ethics-related situation that occurred since the last class. Share with the class the ethical conflict, action, and results.
Chapter Three:
Justice and Economic Distribution
5
Management Ethics
Reflection Questions
Chap 3 – Justice and Economic Distribution
1. What does the concept of justice mean to you?
“Injustice anywhere
is a threat to
justice everywhere.”
Martin Luther King Jr.
MANAGEMENT ETHICS 5-1
What is Justice ?
Moral principle that determines what is just, equitable, and morally right based on ethical, political, environmental, and religious beliefs and values.
-- guided by truth, reason, and fairness --
Promoting welfare, virtue, and freedom
Keeping intact the foundations of our democracy including upholding the law
Securing natural rights
According to Merriam Webster dictionary
-- Justice is the use of law and being fair --
MANAGEMENT ETHICS 5-1
Justice involves REAL issues that deal with the equality and fair treatment of humanity and the environment.
Justice also involves the laws in a country or nation, and the arrangement of how a government will protect it’s values and maintain order while preserving the rights of the people.
What is Justice ?
MANAGEMENT ETHICS 5-1
Maximizing Welfare
Improving standard of living for society as a whole
Bringing the “greatest happiness for the greatest number” of people = UTILITARIAN
This means that a person’s theory of justice is based on promoting prosperity or spurring economic growth, to seek the greatest happiness for the greatest number of people.
Examples: Social Security, healthcare (Medicare and Medicaid), public schools, criminal justice system with prisons
MANAGEMENT ETHICS 5-1
Respecting Freedom
Having respect for individual rights and universal human rights.
e.g. the Bill of Rights
Emphasis on respect for individual rights
Laissez-faire camp (free-market libertarians)
Policies that respect voluntary choices so minimal government intervention in individual lives and choices.
Fairness camp (egalitarian theorists)
Policies that give everyone a fair chance at success so government passes laws that ensure everyone has equal opportunity.
MANAGEMENT ETHICS 5-1
Promoting Virtue
Looking at justice by affirming certain virtues and conceptions of the ‘good life’.
These virtues must b.
THE CAPITALIST ECONOMIC SYSTEM……………………….4 ISLAMIC ECONOMIC SYSTEM………………………………...Saba Saif
The document provides an overview of the capitalist and Islamic economic systems. It discusses the theoretical foundations of capitalism, including its views on scarcity, human needs, and the role of poverty. It notes flaws in the capitalist view and discusses its practical failures. The document then outlines the Islamic view of the economy, including that all resources belong to God and Islam's economic policy aims to satisfy all basic human needs for every individual. It discusses the Islamic principles of ownership and the role of zakat in eliminating poverty according to early Islamic history.
The document discusses corporate social responsibility across three parts. Part one analyzes whether capitalism can lead to human happiness, outlining both advantages like economic growth and opportunities, and disadvantages such as inequality. Part two examines managing risks of derivatives, discussing both supporting and opposing issues. Part three debates whether price gouging should be regulated, and also presents both supporting and opposing perspectives. The document provides a balanced analysis of these complex topics related to corporate social responsibility.
ROLE GOVERNMENT IN DISTRIBUTIVE JUSTICE TOECONOMIC GROWTH OF THE ECONOMYEmperor .A. Simon
The document discusses the role of government in ensuring distributive justice for economic growth. It defines key terms like distributive justice and economic growth. The government has a role in equitable distribution of resources to provide equal opportunities and participation in economic activities, contributing to growth. Elements of an inclusive society and distributive justice include policies promoting access to resources, services, and participation for all.
The document discusses Islamic banking and economics. It begins by defining Islamic banking as banking based on Islamic law derived from the Quran and hadith. It then discusses different economic systems and contrasts the Islamic economic system with capitalism. Some key differences are that in Islam, profit instead of interest is paid on capital, labor and capital are the only primary factors of production, and wealth distribution aims to establish fair access and prevent concentration. The document also defines and discusses the two types of riba prohibited in Islam: Riba an-Nasiyah (interest on loans) and Riba al-Fadl (inequality in exchange of specific commodities).
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The document discusses Islam and capitalism, comparing their economic systems. Capitalism is based on private ownership and free markets but can lead to inequality. Socialism gives the state control but may lack efficiency. Islamic economics balances rights and responsibilities, allowing private ownership and markets with restrictions like prohibiting interest and ensuring equitable distribution and welfare. It aims to maximize well-being in both this life and the afterlife according to divine guidance.
Week Two Instructor Guidance Welcome to Week Two This week our r.docxjane3dyson92312
Week Two Instructor Guidance
Welcome to Week Two
This week our reading in chapters 2 – 3 will explore concepts of Capitalism and Corporations in an ethical framework. There are several articles required for review and analysis this week located in the required resources tab. In addition, there are several articles listed in the recommended resources tab. Please watch the required videos before formulating your analysis and responses to peers in the discussion threads.
Capitalism:
Capitalism is an economic system based on private ownership and the use of capital. Growth of towns and cities and the expansion of trade in the late Middle Ages sparked this economic development. Capital belongs to individuals who are free to do what they wish with it. For this reason, capitalism is also called the “free-enterprise” system. Based on the economic laws of supply and demand, when enough people want something, producers make it because they want a profit. In a market economy monetary values can be placed on everything in the marketplace: land, goods, time, and labor. Buyers and sellers are free to exchange goods and services at prices determined by supply and demand. Modern capitalism is not about immoral pursuit of gain, but upon disciplined obligation of work as duty.
Corporations:
A corporation is a legal entity, distinct and separate from the individuals who create and operate it. As a legal entity, a corporation may acquire, own, and dispose of property in its own name. The three types of corporations are corporations for profit, corporations not for profit, and government owned corporations. The stockholders or shareholders who own the stock own the corporation. Corporations whose shares of stock are traded in public markets are called public corporations. Corporations are distinct legal entities which exist separate from shareholders (Shareholders have limited liability). Corporations whose shares are not traded publicly are usually owned by a small group of investors and are called nonpublic or private corporations. The stockholders of this form of corporation have limited liability. The stockholders control a corporation by electing a board of directors. The board meets periodically to establish corporate policy. It also selects the chief executive officer (CEO) and other major officers. Corporations can sue and be sued. Corporations can own property. Corporations may and usually have a perpetual life. Corporations are created by compliance with state corporation statutes which usually require, a. filing Articles of Incorporation with the secretary of state, and paying a fee Corporate existence begins when the articles of incorporation are filed, unless a delayed effective date is specified in the articles.
Corporate Social Responsibly:
Corporate social responsibility looks at ethical issues on the organization level. Social responsibility means that organizations are a part of a larger society and are accountable to that s.
The document discusses the key aspects of the Islamic economic system, including its philosophical background, principles, rules of functioning, and three sectors. It differentiates the Islamic economic system from capitalism and socialism. Some countries have adopted a welfare state system that combines principles from capitalism and socialism to protect societies.
Please respond to the 3 discussion questions with a response.pdfsdfghj21
1. The principles of classic liberalism focus on personal autonomy, free markets with limited government and equal rights. However, some weaknesses are the potential for poor worker treatment and lack of consideration for the greater good of society.
2. Supporters of classic liberalism believe the government should focus solely on security, protecting citizens, and public works while letting the free market operate without interference. However, this can lead to issues like price gouging and lower wages without regulations.
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This document discusses different moral frameworks, including love, justice, and their relationship. It covers:
1) Love as an agapeic moral framework based on caring for others and meeting their needs, as exemplified by Jesus' teachings. Justice is the minimum requirement of love.
2) Justice as promoting the common good and equal access to opportunities/wealth. This includes concepts like social justice, distributive justice, taxation, and protecting public welfare.
3) A synthesis of frameworks proposed by Garner and Rosen, where an act's rightness depends on its consequences and adherence to duty, considering the situation and impact on all.
This document defines economic freedom and outlines its key principles and measurement. It discusses that economic freedom means individuals can pursue their economic livelihood with autonomy and minimal obstruction. It identifies the main principles as empowerment of individuals, non-discrimination, and open competition. The document also describes how the Index of Economic Freedom measures countries' performance in areas like rule of law, government size, regulatory efficiency, and market openness.
This document discusses key concepts in economics including the three basic economic problems of what to produce, how to produce, and for whom to produce. It also defines four economic systems - traditional, command, market, and mixed - and provides examples of each. Capitalism and socialism are compared as are the concepts of scarcity, opportunity cost, and production possibility frontier.
Please respond to the 3 discussion questions in its entirety.pdfsdfghj21
The document discusses three discussion questions about classical liberalism:
1. It discusses the principles of classical liberalism around personal autonomy and free markets with little government interference. It also notes potential weaknesses around exploitation of workers and lack of consideration for the greater good of society.
2. It summarizes the basic principles of classical liberalism regarding political and economic freedom in free markets and laissez-faire economics. It also discusses potential strengths around autonomy and incentives for business, as well as weaknesses like lack of price regulation and potential for lower worker wages.
3. It discusses the view of classical liberalism that men have natural rights and live under natural laws, with government playing a secondary role. It notes this philosophy presents strengths
Effective advertising and its influence on consumer buying Behaviorking khalil
This research proposal examines the relationship between advertising and consumer buying behavior. Specifically, it analyzes how environmental responses and emotional responses to advertising influence consumer purchasing. The study will survey 200 consumers in Rawalpindi, Islamabad, and Lahore on their responses to advertising for telecom services. Multiple regression analysis will be used to determine the association between the independent variables (environmental response and emotional response) and the dependent variable of consumer buying behavior. The researcher hypothesizes that emotional response will have a stronger influence on purchasing than environmental response. The results could help marketers better understand how to impact consumer decisions through advertising.
The document describes three vehicle models - the Cultus, Swift, and APV. The Cultus is a 1000cc vehicle that blends space and craft with exceptional value and quality. The Swift is a 1300cc vehicle with a unique stylish design. The APV is a 1500cc vehicle with a spacious interior for comfort, a tough engine to carry large loads, and plenty of room for passengers.
Nationalization in Pakistan occurred in two phases from 1971-1977 and 1988-present. Phase I nationalized major industries like steel, engineering, utilities, and later banks and insurance. Phase II nationalized additional industries under Benazir Bhutto. Advantages included equal wealth distribution and planning, but disadvantages were increased corruption, falling production, and a discouraged private sector. The impact on the economy included initial output growth but then poor growth, high inflation, and large fiscal deficits. Ultimately nationalization was not successful due to mismanagement and lack of expertise.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
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1. 1
A View Of
IMPORTANCE OF ECONOMIC JUSTICE
IN ISLAM
By
Hafiz Khalil Ullah
MBA Finance
PGD 2016-17
2. 2
TABLE OF CONTENTS
Justice_______________________________________________________________ 03
Social Justice __________________________________________________________ 03
Economic Justice _______________________________________________________ 03
The Three Principles Of Economic Justice _________________________________ 04
a. Participative Justice ___________________________________________________________04
b. Distibutive Justice ____________________________________________________________05
c. Social Justice ________________________________________________________________05
Islamic Concept Of Social Justice __________________________________________ 06
Foundation Of Islamic Social Justice _______________________________________ 07
Elements Of Social Justice In Islam_________________________________________ 08
a. Equitable Distribution Of Wealth __________________________________________ 08
b. Provision Of Social Security _____________________________________________ 09
c. Protection Of Weak Against Strong _______________________________________________09
Importance Of Social Justice ____________________________________________________ 10
References _____________________________________________________________________ 12
3. 3
JUSTICE
In summary, we can say that the Islamic Economic system is based upon the notion of justice.
Justice in Islam is a multifaceted concept, and there several words exist to define it. The most
common word in usage which refers to the overall concept of justice is the Arabic word
“adl”. This word and its many synonyms imply the concepts of “right”, as equivalent to
fairness, “putting things in their proper place”, “equality”, “equalizing”, “balance”,
“temperance” and “moderation.”
Functionally, “justice” is a set of universal principles which guide people in judging what is right
and what is wrong, no matter what culture and society they live in”.
SOCIAL JUSTICE
Social Justice is the idea that all members of society deserve an equal footing in terms of
opportunities, political rights, and distribution of wealth and privilege so that they can lead
fulfilling lives and realize their potential in the community.
Social justice issues are divided into two groups which often overlap: The inter-social treatment
issues, such as sexism, racism, ageism, and homophobia, etc.; and unequal government policies,
such as environmental or tax policies that disadvantage the poor, legal segregation (racism),
death penalty, unequal access to education. Social Justice Institutions work to provide and
expand education, healthcare, public services, and labor rights, and strive to ensure
equitable distribution of wealth and opportunity through progressive taxation and market
regulation.
ECONOMIC JUSTICE
Economic justice is a component of social justice. It's a set of moral principles for building
economic institutions, the ultimate goal of which is to create an opportunity for each person to
create a sufficient material foundation upon which to have a dignified, productive, and creative
life beyond economics.
An example of an economic justice institution is progressive taxation - a system of taxation
where tax percentage increases as the base amount increases. The goal of progressive taxation is
to remedy income inequality and to provide funds for social services, public infrastructure, and
education. Earned income credit, affordable housing, and need-based federal financial aid for
college students are other examples of economic justice institutions.
4. 4
The Three Principles of Economic Justice
Like every system, economic justice involves input, output, and feedback for restoring harmony
or balance between input and output. Within the system of economic justice as defined by Louis
Kelso and Mortimer Adler, there are three essential and interdependent principles: Participative
Justice (the input principle), Distributive Justice (the out-take principle), and Social Justice
(the feedback and corrective principle). Like the legs of a three-legged stool, if any of these
principles is weakened or missing, the system of economic justice will collapse.
(1)Participative Justice :
“Participative Justice” describes how one makes “input” to the economic process in order to
make a living. It requires equal opportunity in gaining access to private property in productive
assets as well as equality of opportunity to engage in productive work. The principle of
participation does not guarantee equal results, but requires that every person be guaranteed by
society’s institutions the equal human right to make a productive contribution to the economy,
both through one’s labor (as a worker) and through one’s productive capital (as an owner). Thus,
5. 5
this principle rejects monopolies, special privileges, and other exclusionary social barriers to
economic self-reliance.
(2)Distributive Justice :
“Distributive Justice” defines the “output” or “out-take” rights of an economic system matched
to each person’s labor and capital inputs. Through the distributional features of private property
within a free and open marketplace, distributive justice becomes automatically linked to
participative justice, and incomes become linked to productive contributions. The principle of
distributive justice involves the sanctity of property and contracts. It turns to the free and open
marketplace, not government, as the most objective and democratic means for determining the
just price, the just wage, and the just profit.
Many confuse the distributive principles of justice with those of charity. Charity involves the
concept “to each according to his needs,” whereas “distributive justice” is based on the idea “to
each according to his contribution.” Confusing these principles leads to endless conflict and
scarcity, forcing government to intervene excessively to maintain social order.
Distributive justice follows participative justice and breaks down when all persons are not given
equal opportunity to acquire and enjoy the fruits of income-producing property.
(3)Social Justice :
“Social Justice” is the “feedback and corrective” principle that detects distortions of the input
and/or out-take principles and guides the corrections needed to restore a just and balanced
economic order for all. This principle is violated by unjust barriers to participation, by
monopolies or by some using their property to harm or exploit others.
Economic harmony results when Participative and Distributive Justice are operating fully for
every person within a system or institution. The Oxford English Dictionary defines “economic
harmonies” as “Laws of social adjustment under which the self-interest of one man or group of
men, if given free play, will produce results offering the maximum advantage to other men and
the community as a whole.” Social Justice offers guidelines for controlling monopolies, building
checks-and-balances within social institutions, and re-synchronizing distribution (outtake) with
participation (input). The first two principles of economic justice flow from the eternal human
search for justice in general, which automatically requires a balance between input and outtake,
i.e., “to each according to what he is due.” Social Justice, on the other hand, reflects the human
striving for other universal values such as Truth, Love and Beauty. It compels people to look
beyond what is, to what ought to be, and continually repair and improve their systems for the
good of every person.
It should be noted that Louis Kelso and Mortimer Adler referred to the third principle as “the
principle of limitation” as a restraint on human tendencies toward greed and monopoly that lead
to exclusion and exploitation of others. Given the potential synergies inherent in economic
justice in today’s high technology world, CESJ feels that the concept of “social justice” is more
appropriate and more-encompassing than the term “limitation” in describing the third component
6. 6
of economic justice. Furthermore, the harmony that results from the operation of social justice is
more consistent with the truism that a society that seeks peace must first work for justice.
ISLAMIC CONCEPT OF SOCIAL JUSTICE
Islam, being religion of nature, understands that human beings are born with varying gifts.
As they differ in their bodies and their features so they differ in their mental and other
capabilities. Their environment, their circumstances and their hereditary gains also differ. In
this situation there can be no possibility of economic equality. Thus the existence of
economic inequalities among the human beings is but natural. It is also there because Islam
allows individual initiative in earning wealth and gives right of private ownership of
property. Moreover, existence of inequalities in economic and social life is a part of Divine
scheme whereby God tests and tries the people to know who are good and who are bad. To
this fact, the Holy Qur’an refers when it says:
He it is who hath placed you as viceroys of the earth and hath exalted some of you in
rank above others, that He may try you by (the test of) that which He hath given
you………
-(6 : 165)
And Allah hath favoured some of you above others in provision………
-(16 : 71)
……… We have apportioned among them their livelihood in the life of the world, and
raised some of them above others in rank that some of them may take labour from
others…….
-(43 : 32)
However, despite recognising inequalities as natural and part of Divine world order, Islam
permits differences in wealth within reasonable limits only. It does not tolerate that these
differences should grow so wide that some people live their life in absolute luxury while
millions are left to lead a life of abject poverty and misery. It does not allow economic
disparities turn into an extreme position wherein millions of have-nots’ become serfs and
slaves in the hands of few ‘haves’ of the society. In other words, we can say that Islam does
not believe in equal distribution of economic resources and wealth among the people rather
it believes in equitable, just and fair distribution. It bridges the gulf between the rich and the
poor by taking very effective measures to modify the distribution of wealth in favour of the
poor.
Islam, on the one hand, ensures just and equitable distribution of wealth among the people
and, on the other hand, provides social security to the poor and the destitute in the form of
basic necessities of life. Besides that, Islam also protects the weak from the economic
exploitation by the strong. All there are various aspects and manifestations of what is called
Islamic social justice.
Thus social justice (which is also referred to as economic justice or distributive justice)
according to Islamic conception includes three things, namely : (1) fair and equitable
7. 7
distribution of wealth, (2) provision of basic necessities of life to the poor and the needy,
and (3) protection of the weak against economic exploitation by the strong.
FOUNDATION OF ISLAMIC SOCIAL JUSTICE
Ideological basis of the above mentioned concept of Islamic social justice are found in the
following verses of the Holy Qur’an, Ahadith of Prophet Muhammad (PBUH) and traditions
of Prophet’s companions :-
1. Give unto orphans their wealth. Exchange not the good for the bad (in your
management thereof) nor absorb their wealth into your own wealth. Lo ! that would
be a great sin.
-(Al-Qur’an 4 : 2)
2. ……..Give full measure and full weight, in justice……….
_(Al-Qur’an 6 : 152)
3. And know that whatever ye take as spoils of war, Lo! A fifth thereof is for Allah,
and for the messenger and for the kinsman (who hath need) and orphans and the
needy and the wayfarer. If ye believe in Allah and that which We revealed unto Our
slave on the Day of Discrimination, the day when the two armies met. And Allah is
Able to do all things.
-(Al-Qur’an 8:41)
4. The alms are only for the poor and the needy, and those who collect them, and those
whose hearts are to be reconciled and to free the captives and the debtors, and for
the cause of Allah, and (for) the wayfarers; a duty imposed by Allah. Allah is
Knower, Wise.
-(Al-Qur’an 9:60)
5. And Allah hath favoured some of you above others in provision. Now those who
are more favoured will by no means hand over their provision to those (slaves)
whom their right hands possess, so that they may be equal with them in respect
thereof. It is then the grace of Allah that they deny?
-(Al-Qur’an 16 : 71)
6. He placed therein firm hills rising above it, and blessed it and measured therein its
sustenance in four Days, alike for (all) who ask.
-(Al-Qur’an 41 : 10)
7. And the sky He hath uplifted; and He hath set the measure, that ye exceed not the
measure, but observe the measure strictly, nor fall short thereof.
-(Al-Qur’an 55 : 7-9)
8. Believe in Allah and His messenger, and spend of that whereof He hath made you
trustees……….
8. 8
-(Al-Qur’an 57 : 7)
9. We verily sent our messengers with clear proofs, and revealed with them the
scripture and the Balance, that mankind may observe right measure………..
_(Al-Qur’an 57 : 25)
10. That which Allah giveth as spoil unto His messenger from the people of the
townships, it is for Allah and His messenger and for the near of kin and the orphans
and the needy and the wayfarer, that it become not a commodity between the rich
among you.
_(Al-Qur’an 59 : 7)
11. And in whose wealth there is a right acknowledged. For the beggar and the destitute;
-(Al-Qur’an 70 : 24-25)
12. The Prophet of Islam is reported to have said: If anyone spent a night in a town and
he remained hungry till morning, the promise of God’s protection for that town
came to an end.
-(Musnad Ahmad)
13. The Messenger of Allah said: The government is the guardian of anyone who has no
guardian.
-(Abu Daud, Tirmizi)
14. Abu Hurairah reported that the Messenger of Allah said: One who strives for the
widows and the poor is like one who fights in the way of Allah.……..
-(Bukhari, Muslim)
15. The Messenger of Allah said: No one’s faith amongst you is reliable until he likes for
his brother (in Islam) what he likes for himself.
-(Bukhari)
ELEMENTS OF SOCIAL JUSTICE IN ISLAM
We have already defined social justice of Islam and have also mentioned that it comprises three
elements i.e., (1) equitable distribution of wealth (2) provision of social security (3) protection of
the weak against the strong.
All these elements have been dealt with in detail. Let us briefly discuss them here.
(1) Equitable Distribution Of Wealth:
No doubt Islam accepts unequal distribution of wealth as natural and part of Divine Scheme of
world order, yet it does not allow existence of wide disparities in distribution of wealth. If
distribution of wealth in a community is unfair and inequitable, social peace in that community is
9. 9
always at stake and conflict between the poor and the rich is bound to result in war and class
struggle. Islam being religion of peace is against such class conflict. It establishes fraternity and
brotherhood in the ranks of the members of Islamic community. Islam believes in well-being of
its followers and, therefore, ensures fair and equitable distribution of income and wealth among
them. For bridging the gulf between the rich and the poor and for ensuring just and equitable
distribution of economic resources and wealth, Islam has taken very effective measures. Positive
measures taken by it are Zakat and Sadaqat, laws of inheritance and bequest, monetary
atonements, voluntary charities and compulsory contributions in the form of taxes and various
levies. To prevent concentration of wealth in few hands, Islam has taken some prohibitive
measures also. These include abolition of interest, prohibition of acquisition of wealth through
illegal and unfair means, prohibition of hoarding of wealth, etc.
(2) Provision Of SocialSecurity :
Islamic economic system guarantees basic human needs to all the citizens of the Islamic state.
Islam enjoins upon the well-to-do to fulfil the needs of the poor and the destitute. According to
Al-Quran, the poor and the needy have share in the wealth of the rich. The Quran says: And in
whose wealth there is a right acknowledged for the poor beggar and the destitute”-(70 : 24-25).
To the question as to how much wealth should be spent by the rich for the cause of the poor, the
Qur’an replies : “……. And they ask thee how much they are to spend; say : “What is beyond
your needs”-(2:219). Thus the revealed book of Islam expects from the rich to spend all their
surplus wealth for their poor brothers if the circumstances so demand. Abu Zarr Ghaffari, a close
companion of the Prophet, who is considered a great champion of the cause of social justice,
holds the view that it is unlawful to keep any surplus wealth after meeting one’s personal needs
and so the same must be spent on satisfying the needs of the deprived of members of the Muslim
Ummah (community). In his view, so long as there is even one poor person who is unable to
meet his basic needs of life, surplus wealth of the rich must be collected by the state and spent on
poor. It is reported that he was expelled from Syria by Governor Muawwiya for preaching such
views and later on even caliph Usman asked him to stop propagating such views or to leave
Madinah and he preferred the latter option.
(3) ProtectionOf The Weak Against The Strong :
Elimination of economic exploitation of the weak by the strong is another element of Islamic
social justice. Many steps have been taken by Islam in this direction. Riba or usury is one of the
worst instruments of human exploitation and this has been abolished root and branch. Other
means of human exploitation such as bribery, gambling, speculative transactions, fraudulent
practices, prostitution, embezzlement, etc. have also been prohibited in Islamic society.
Interest of the weaker classes of the society like women, orphans, slaves, labourers, tenants,
consumers, etc. have been protected through detailed legislation by Islam.
10. 10
The women were treated as chattel and were denied the status of human being before emergence
of Islam. Islam restored their human status and gave them equal social and economic rights along
with men. In the economic field, for example, women have been given rights to own property, to
acquire property and to dispose it off at their discretion. They are given rights of inheritance
from their parents, their husbands, their children and near relatives. They are allowed to work to
earn their livelihood through any dignified profession or vocation of their choice. The orphans
have been another economically exploited class in society as their property is generally devoured
by their guardians and near kindred. Islam has declared devouring the property of the orphans a
major sin. The Qur’an warns the devourers of orphan’s property in these words : “Lo ! Those
who devour the wealth of orphans wrongfully, they do but swallow fire into their bellies, and
they will be exposed to burning fire”- (4:10). The slaves were perhaps the most exploited class in
human history. Islam declared the emancipation of slaves as the most pious act and enjoined
upon its followers to set the slaves free and thus earn God’s pleasure. The Qur’an has made
emancipation of slaves an expiation of some kinds of sins of the believers. The Muslim men and
women were encouraged to marry the believing maids and slaves in preference to non-believers
even if the non-believers were very rich and good looking. Islamic state is obliged to financially
assist the slaves in their manumission out of its Zakat revenues.
IMPORTANCE OF SOCIAL JUSTICE
A number of verses in the Qur’an drive this point as in “Oh you who believe! Stand out firmly
for justice, as witnesses to Allah, even against yourselves, or your parents, or your kin, and
whether it be (against) rich or poor …” (Qur’an 4:135). This point is further stressed in “And eat
up not one another’s property unjustly nor give bribery to the rulers that you may knowingly eat
up a part of the property of others sinfully” (Qur’an 2:188). The application of Justice is not
restricted and it must also be applied to one’s enemies as God commanded in “Oh you who
believe! Stand out firmly for Allah, as witnesses to fair dealing, and let not the hatred of others
make you swerve to wrong and depart from justice. Be just: that is next to Piety…” (Qur’an 5:8).
The Islamic economic principals highlight Two important features :
(1) The first is related to the Divine permission of ownership, which does not place restrictions
on the volume of wealth that a person can achieve. It also recognizes the human nature of
wanting to satisfy basic needs and enjoying the benefit of comforts. This gives freedom to man
to utilize one’s assets and property. Simultaneously, Islam requires Muslims to give charity to
the poor and needy as well as encouraging moderation. One of the five pillars of Islam is called
zakah (purifying almsgiving). It refers to the giving of a fixed portion of one’s excess wealth as a
tax to those who are need. The importance of Zakah in Islam is highlighted in the fact that it is
repeatedly mentioned with prayer as part of God’s worship. ‘Establish Prayer and dispense
Zakah. Whatever good deeds you send forth for your own good…(Qur’an 2:110). “Truly the
reward of those who believe and do righteous deeds and establish prayer and pay Zakah is with
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their Lord; they have no reason to entertain any fear of grief.” (Qur’an 2:277). In addition, the
Qur’an also strongly encourages spending in a charitable way. This is commanded in the
following verses ‘…yea, give them something yourselves out of the means which Allah has
given to you..’ (Qur’an 24:33). ‘Believe in Allah and His Messenger, and spend (in charity) out
of the substance that God has put you in charge of..”(Quran 57:7). Whilst charity is left to the
individual, Zakah is to be collected and distributed in an organized way.
(2) The second feature of the Islamic economic doctrine relates to a legal framework under
which all trade and business can be freely transacted. Islam does not define a specific economic
system, however, it does set boundaries in the form of prohibitions. In another word, Islam has
established a model that governs the quality and the means of acquiring wealth. The main
objective of this framework is to establish justice and eliminate exploitation in business. This is
directly related to one of the most important teachings of Islam, which instructs Muslims not to
acquire each other’s property in a wrongful way. In the rest of this paper, these principals will be
demonstrated by highlighting some of the major prohibitions.
In Islam, interest inall its forms is prohibitedas it leads to economic injustice. God
commands the prohibitionof interest in‘Believers!Do not devour interest, doubledand
redoubled, and be mindful of Allah so that you may attain true success”(Qur’an3:130).
Furthermore, the Qur’an makes clear distinctionbetweeninterestand trade in “Those who
devour interest will not stand except as stands one who the Evil One by his touch hath driven
to madness. That is because they say: “Trade is like interest, but Allah hath permittedtrade
and forbiddeninterest. Those who after receivingdirect from their Lord, desist, shall be
pardoned for the past; their case is for Allah (to judge); but those who repeat (the offence)
are companions of the Fire; theywill abide therein(for ever). (Qur’an 2:274).
Islam also prohibits growth in wealth from unlawful means. Therefore, it is forbiddento
invest or trade in certaintypes of products and services. Examples of unlawful businesses
include prostitutionand the sextrade, liquor industry and all forms of gambling or betting.
These prohibitions are mentionedinmany commands including “Do not even approach
fornicationfor it is an outrageous act, and an evil way.” (Qur’an, 17:32)and “Believers!
Intoxicants games of chance, idolatrous sacrifices at altars and dividing arrows are all
abominations, the handiwork of Satan. So turn wholly away from it that you may attain true
success.”(Qur’an5:90).
It is also forbiddento gain wealth through unjust methods. The injunctionrelates to how
business is transactedbetweenparties. God warns against unjust trading in “Oh, you who
believe! Eat not up your propertyamong yourselves unjustly, but let there be amongst you
trade by mutual goodwill and natural consent”(Qur’an 4:29).
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REFRENCES :
(1) http://www.investopedia.com/terms/e/economic-justice.asp
(2) http://www.cesj.org/learn/definitions/defining-economic-justice-and-social-justice/
(3) https://definitions.uslegal.com/e/economic-justice/
(4) http://www.muslimtents.com/shaufi/b16/b16_2.htm
(5) http://www.muslimtents.com/shaufi/b16/b16_16.htm
(6) http://www.ips.org.pk/islamic-thoughts/993-socio-economic-justice-and-the-muslim-
world
(7) Distributive principles of economic justice: an Islamic perspective
BY Zakiyuddin Baidhawy
State Institute of Islamic Stud ies (STAIN) Salatiga, Indonesia
(8) THE PRINCIPALS OF ISLAMIC ECONOMIC JUSTICE AND ITS SOURCES
By Ahmad Hassan
(9) An introduction to the principles Islam has legislated to guide the economic
system of society. Part 1: The sources from which the laws that guide economical activity are
derived.
By IslamReligion.com
Published on 13 Mar 2006 - Last modified on 16 Oct 2011