Money in Islam

by Choudhury,Masudul A.

• ISBN13: 9780415163026
• ISBN10: 0415163021
• Format: Hardcover
• Copyright: 1997-12-24
• Publisher: Routledge

Summary

Money in Islamtakes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical framework have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability, and international trade. At a time when various theories of money are contending against each other for a better understanding of the relationship between money and global economic activity, this work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.

Table of Contents

List of figures	p. ix
List of tables	p. xi
Foreword	p. xii
Acknowledgements	p. xiv
Introduction	p. xv
The Islamic Epistemological Foundations of a Theory of Money, Organization and Markets: Comparative Perspectives	p. 1
The Theory of Endogenous Money in Comparative Islamic Perspectives	p. 38
History of Endogenous Money in Islam	p. 71
Joint Venture as a Principal Islamic Financial Instrument	p. 106
A Generalized Theory of Islamic Development Financing in the Light of Endogenous Monetary Theory	p. 120
A Model of the Stock Market with Extensive Interactions: Implications of the Shuratic Process	p. 154
Money and Islamic Financial Institutions in a General Equilibrium System of Islamic Political Economy	p. 178
External Sector Multiplier Relations of Endogenous Money	p. 220
A General Equilibrium Treatment of Money, Finance and Trade: Muslim Countries and Capitalist Globalization	p. 250
A General Equilibrium Treatment of Money, Finance and Trade: Islamic Political Economy and Globalization	p. 278
Glossary of essential Arabic terms	p. 306
Index	p. 308
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