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Article Information:
Abu Al-Hasan Al-Mawardi’s Views on Economic Policies
Murat PIÇAK, Bahar Burtan DOĞAN and Abdullah OĞRAK
Corresponding Author: Murat PIÇAK
Submitted: April 20, 2013
Accepted: May 14, 2013
Published: September 20, 2013 |
Abstract:
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Al-Mawardi is a medieval Islamic philosopher. He has expressed that the basic factor ensuring economic life to be held in a healthy environment is justice and the environment of safety occurring because of it. He added, the state must collect its taxes in accordance with the financial situations of the tax payers and in a manner that it would not negatively affect their life standards. He said, the state should spend its income on productive and employment generating fields and on social security services. He defended that, within the free market mechanism, economic life should be operated in accordance with the supply and demand principles and that the state should under no circumstances intervene to the prices. He stated that the state should overtake the role of a regulator and an inspector in issues such as employer-employee conflicts and protecting the rights of woman and child workers. On the basic level, there are some similarities between Al-Mawardi’s views on economy and the views put forward by Classical Liberal School, Keynesian Economics Thought and Monetarist School of Economics, which all emerged in the later years.
Key words: Al-Mawardi, economic policies, Islamic economy, , , ,
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Cite this Reference:
Murat PIÇAK, Bahar Burtan DOĞAN and Abdullah OĞRAK, . Abu Al-Hasan Al-Mawardi’s Views on Economic Policies. Current Research Journal of Economic Theory, (3): 56-65.
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ISSN (Online): 2042-485X
ISSN (Print): 2042-4841 |
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