Trading and business in Islam has been identified as the second best profession after agriculture and Prophet Muhammad （PBUH） himself has been engaged in trading. The Islamic theory of market aims to provide optimiz...Trading and business in Islam has been identified as the second best profession after agriculture and Prophet Muhammad （PBUH） himself has been engaged in trading. The Islamic theory of market aims to provide optimization of returns and satisfaction for all stakeholders. It also seeks to make ＂free market＂ an instrument of promoting equity and social justice for the welfare of society. It combines tenants from the free market model as well as those in command market economy. Islamic economics identifies certain functional parameters for the efficient functioning of the market to achieve the optimization of returns and social welfare like absence of middle men, prohibition of hoarding, mode of finance free from interest and usury, taxation and other wealth redistribution instruments like Zakat and Khums, asset-based and risk-sharing partnerships and stakes, etc.. It essentially creates conditions for proper functioning of a competitive market as an instrument of economic progress and social equity. In Islamic economics, the role accorded to the state is to ensure that institutions are set up and vigilance officers are appointed which create the specified condition for the proper and fair functioning of the market and hence preventing what is identified as ＂market failure＂. The role of the state is to improve the functioning of the market as opposed to that of systematic intervention. This paper tries to examine the Islamic notions of ＂free market＂ in the traditional sources like Qur＇an, Hadees, the early texts of Islamic Jurisprudence, and contemporary writings on Islamic economic system and to make a comparative analysis with theories of market in capitalist and socialist frameworks. The paper will examine the extent to which Islamic notions of free market offer an alternative model to resolve the problems of growth, inequity, and risk management.展开更多
Taxation plays a major role in both market economics and Islamic economics. The difference is that in market economics, the tax system has evolved throughout the centuries in order to address the constant change in ma...Taxation plays a major role in both market economics and Islamic economics. The difference is that in market economics, the tax system has evolved throughout the centuries in order to address the constant change in market-based societies. In Islamic economics, however, the tax system bases on the writings of the Qur＇an and the principles of shariah. As a result, it did not flourish as the needs of Islamic society changed. Therefore, governments in Islamic countries that seek to follow Islamic law are facing major economic challenges. Recently, some Islamic scholars have asserted that Islamic governments can go beyond the explicit instructions of the Qur＇an and impose taxes as needed. They justify their arguments based on the interpretation of Qur＇anic verses. This paper briefly compares both rationality and the methods of taxation in both market economics and Islamic economics, and further elaborates on the shortcomings of the original Islamic tax laws.展开更多
Along with the quick development of social economy, market competition has already entered into a new stage, namely brand competition era. This paper is to put forward scientifically rational countermeasures and sugge...Along with the quick development of social economy, market competition has already entered into a new stage, namely brand competition era. This paper is to put forward scientifically rational countermeasures and suggestions through taking brand internalization theory as basis and starting from regional industry competitiveness. Thus it would increase regional industry competitiveness of brand.展开更多
文摘Trading and business in Islam has been identified as the second best profession after agriculture and Prophet Muhammad （PBUH） himself has been engaged in trading. The Islamic theory of market aims to provide optimization of returns and satisfaction for all stakeholders. It also seeks to make ＂free market＂ an instrument of promoting equity and social justice for the welfare of society. It combines tenants from the free market model as well as those in command market economy. Islamic economics identifies certain functional parameters for the efficient functioning of the market to achieve the optimization of returns and social welfare like absence of middle men, prohibition of hoarding, mode of finance free from interest and usury, taxation and other wealth redistribution instruments like Zakat and Khums, asset-based and risk-sharing partnerships and stakes, etc.. It essentially creates conditions for proper functioning of a competitive market as an instrument of economic progress and social equity. In Islamic economics, the role accorded to the state is to ensure that institutions are set up and vigilance officers are appointed which create the specified condition for the proper and fair functioning of the market and hence preventing what is identified as ＂market failure＂. The role of the state is to improve the functioning of the market as opposed to that of systematic intervention. This paper tries to examine the Islamic notions of ＂free market＂ in the traditional sources like Qur＇an, Hadees, the early texts of Islamic Jurisprudence, and contemporary writings on Islamic economic system and to make a comparative analysis with theories of market in capitalist and socialist frameworks. The paper will examine the extent to which Islamic notions of free market offer an alternative model to resolve the problems of growth, inequity, and risk management.
文摘Taxation plays a major role in both market economics and Islamic economics. The difference is that in market economics, the tax system has evolved throughout the centuries in order to address the constant change in market-based societies. In Islamic economics, however, the tax system bases on the writings of the Qur＇an and the principles of shariah. As a result, it did not flourish as the needs of Islamic society changed. Therefore, governments in Islamic countries that seek to follow Islamic law are facing major economic challenges. Recently, some Islamic scholars have asserted that Islamic governments can go beyond the explicit instructions of the Qur＇an and impose taxes as needed. They justify their arguments based on the interpretation of Qur＇anic verses. This paper briefly compares both rationality and the methods of taxation in both market economics and Islamic economics, and further elaborates on the shortcomings of the original Islamic tax laws.
文摘Along with the quick development of social economy, market competition has already entered into a new stage, namely brand competition era. This paper is to put forward scientifically rational countermeasures and suggestions through taking brand internalization theory as basis and starting from regional industry competitiveness. Thus it would increase regional industry competitiveness of brand.
