FIRST PRINCIPLES OF ISLAMIC ECONOMICS. pdf download

Book Title	First Principles Of Islamic Economics
Book Author	Syed Abul Ala Maudoodi
Total Pages	238
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Language	English
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FIRST PRINCIPLES OF ISLAMIC ECONOMICS by Sayyid Abul A’la Maududi

Book Contents

Dedicated to those noble souls who are tirelessly engaged in the struggle for a world free from exploitation.
Transliteration Table
Foreword
Translator’s Note
Author’s Preface
Introduction

PART ONE: THE ISLAMIC CONCEPT OF ECONOMIC WELL-BEING
Mankind’s Economic Problems and Their Islamic Solutions
The problem of a partial approach
The real issue
The root cause of economic mismanagement
Self-aggrandizement and luxuries
Capital worship
The element of antagonistic competition
Cartels and monopolies

The super capitalist
The recipe of communism
An exploitative system
Slaughter of the self
The fascist solution
The Islamic solution
Basic rules
Earning money
Ownership rights
Rule for spending money
Eliminating the capitalist trend
Circulation of wealth and social security
Points to ponder
Economic Teachings of the Qur’an
Fundamental truths

Parameters of permissible and impermissible
Parameters of private ownership
Irrational concept of economic parity
Monasticism or moderation and balance
Distinction between Halal and Haram means of livelihood
Forbidden means of livelihood
Prohibition of stinginess and hoarding
Lust for money and greediness
Unchecked spending
Correct way of spending money
Reparation for sinful transgressions
Preconditions for the Divine Acceptability of charity
Charity in the Way of Allah
Collection and distribution of Zakah
One-fifth of revenue from war gains

Disbursement of Zakah funds
Division of inheritance
The will
Rights of those of weaker understanding
Safeguarding public interest in state holdings
Guiding principle about taxation
Salient features of Islamic economics-a resume
Index of source material

PART TWO: THE ECONOMIC SYSTEM OF ISLAM: SOME BASIC FEATURES
The Question of Land Ownership
The Holy Qur’an and the question of private ownership
Precedents of the Holy Prophet and his Caliphs
Ownership rights on the basis of settlement
Award of state lands
The Shari’ah perspective on the award of state lands

Feudal estates and Islamic Shari’ah
Respect for ownership rights
Islamic social order and private ownership
The question of delimitation of agricultural land
Sharecropping between landlord and farmer
Principles of property management

The Question of Interest
Islamic injunctions concerning interest
Meaning of Riba
Riba of the Days of Ignorance
Basic difference between Riba and Bay
Rationale for prohibition
Strict nature of the ban
Need for interest: a rational reassessment
Compensation for elements of risk and sacrifice

Compensation for opportunity and grace period
Sharing of profit
Compensation for time
Reasonableness of an interest rate
Rationale for varying rates of interest?
Economic benefits of interest!
Need and utility of interest?
Demerits of interest
Economic growth without interest
Some misunderstood facts
First step towards reform
End result of a ban on interest
Availability of loans in an interest-free system
Islamic modes of banking
Economic and industrial loans from non-Muslim countries

Zakah in Theory and Practice
Essence of Zakah
Meaning
Apostolic tradition
Zakah’s place in social life
The Divine Command concerning Zakah
Various categories of Zakah distribution
Al-Fuqara
Al-Masakin

About the Book

First Principles of Islamic Economics collects together the major writings on Islamic economics by Abu’l A’la Mawdudi (1903-79), one of the leading Muslim intellectuals of the twentieth century.

Written between the 1930s and the 1960s, Mawdudi laid down the foundations of modern Islamic economic philosophy. Drawing upon the teachings of the Qur’an and Sunnah, Mawdudi spelled out major elements of a new paradigm for economic analysis and policy, wherein economic pursuits take place in the context of moral values and directed towards achievement of personal and social objectives.

The uniqueness of this approach lies in making efficiency and equity inseparable and interdependent. In an Islamic framework, creation and distribution of wealth become instrumental in promoting individual and social well being, enabling the economic discipline to open up pathways to economic development, social justice and human welfare.

Khurshid Ahmad, who edited the Urdu original, Ma’ashiyat-i Islam, has contributed a new introduction to this authoritative English translation by Shafaq Hashmi.

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