ISLAMIC ECONOMICS SHORT HISTORY [FREE PDF]

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Islamic commercial jurisprudence entails the rules of transacting finance or other economic activity in a Shari'a compliant manner, A manner conforming to Islamic scripture (Quran and Sunnah). Islamic jurisprudence (fiqh) has traditionally dealt with determining what is required, prohibited, encouraged, discouraged, or just permissible, according to the revealed word of God (Quran) and the religious practices established by Muhammad (sunnah). This applied to issues like property, money, employment, taxes, along with everything else. The social science of economics, on the other hand, works to describe, analyze and understand production, distribution, and consumption of goods and services, and studied how to best achieve policy goals, such as full employment, price stability, economic equity and productivity growth.

TABLE OF CONTENT

Chapter One Pre-Islamic Arabia: Poetry, Tribal Rivalry
and Heroism (800 B.C.–610 A.C.) ...................................... 1

Biblical Connections .............................................................. 1
The Land and the People .................................................... 3
Social Organization and Settlement Patterns ...................... 4
Arabian Civilizations .............................................................. 10
Trade and Finance in Makkah ............................................ 21
The Bedouin in Islam .......................................................... 24

Chapter Two The Birth of the Islamic State:
Economic Thought in the Qur"àn and Sunnah
(610 A.C.–632 A.C.) .............................................................. 30

Sources of the Islamic Economic Thought .......................... 32
Economic Thought in the Qur"àn and the Sunnah .......... 37
Basic Philosophy .................................................................... 37
Application of Basic Philosophy ............................................ 44
Islamic Economics in the Qur"àn and Sunnah and the
Present Time ...................................................................... 89

Chapter Three Economic Thought of the Rightly Guided
Caliphs (632 A.C.–661 A.C.) ................................................ 92

The Caliphate ........................................................................ 93
The First Caliph Abù-Bakr (632–634) ................................ 95
The Second Caliph Umar (634–644) .................................. 99
The Third Caliph Uthmàn (644–656) ................................ 116
The Fourth Caliph Ali (656–661) ........................................ 120

Chapter Four The Dynastic Caliphates: The Umayyads
and the Reforms (661 A.C.–750 A.C.) ................................ 126

The Caliphate and the Dynasty .......................................... 126
Islamic Expansion and the Need for Administrative
Reform ................................................................................ 128
Administrative and Economic Reforms ................................ 130
Monetary Reform .................................................................. 134
Islamic Urbanisation .............................................................. 135
Agriculture .............................................................................. 137
Trade and Commerce .......................................................... 139
Legal Forms of Business ........................................................ 142
State Finance .......................................................................... 145

Chapter Five The Abbasìd’s Golden Age: The Florescence
of Islamic Economics (750 A.C.–1000 A.C.) ...................... 155

Leading Specialised Work on Islamic Economics .............. 155
Main Changes in the Economic Features .......................... 158
Intellectual Development ...................................................... 161
Jurisprudence Schools of Thought ........................................ 167
The First Specialised Books on Islamic Economics ............ 169
Abù-Yùsuf (113–182 A.H., 731–798 A.C.) .......................... 171
Kitàb al-Kharàj, Treatise in al-Kharàj ............................ 171
Al-Shaibànì (132–189 A.H., 750–804 A.C.):
From Macro-Economics to Micro-Economics:
Kitàb al-Iktisàb, Book of Earnings .................................. 197
Abù-Ubaid (d. 224 H., 838 A.C.) ........................................ 205
Kitàb al-Amwàl, Book of Wealth .................................... 205

The Contribution of Sùfìsm to Islamic Economic
Abdullah al-Œarith bin Asad al-Muœasibì,
(d. 243 A.H., 857 A.C.) .................................................... 214

Kitàb Risalat al-Iktisàb wa al Wara", Treatise on Earning
and Asceticism ................................................................ 214

Chapter Six Political Fragmentation and Cultural Diversity
(1000 A.C.–1400 A.C.) .......................................................... 222

Political Fragmentation .......................................................... 222
The Collapse and Restoration of the Caliphate ................ 230
Intellectual Diversity .............................................................. 230

Abù al-Hasan al-Màwardì (364–450 A.H.,
972–1058 A.C.) .................................................................. 233

al-Aœkàm al-Sùltàniyyah, Book of State Ordinance ...... 233
Al-Ràghib al-A›fahànì (d. 502 A.H./1108 A.C.) ................ 237
al-Zarì"ah fi Makàrim al-Sharì"ah, Means of Glorious
Sharì"ah .......................................................................... 237
Abù-Hamid al-Ghazàlì (450–505 A.H./
1058–1111 A.C.) ................................................................ 244
Iœya" Ulùm al-Dìn, The Revival of the Science
of Religion ...................................................................... 244
Ja"afer al-Dìmashqì (late 12th century) ................................ 254
al-Isharah fi Maψsin al-Tijarah, Book of Good
The Institution of Œisbah and Business Sector
Governance ........................................................................ 260
Writing on Œisbah ................................................................ 261
Ibn-al-Ukhùwwah (d. 1329) .................................................. 263
Ma"alim al-Qùrbah fi Aœkàm al-Œisbah .......................... 263
Rules of Accountability and Public Duties ...................... 263
Ibn Taymìya (661–728 A.H./1263–1328 A.C.) .................. 268
al-Œisbah fi al Islam, Public Duties in Islam .................. 268
Ibn-Khaldùn (1332–1406) ...................................................... 273
al-Mùqaddimah, An Introduction to History .................. 273

Chapter Seven The Three Empires and the Islamic Phoenix
(1400 A.C.–1800 A.C.) .......................................................... 284

The Ottoman Empire ............................................................ 285
The flafawìd Empire .............................................................. 301
The Mongol Empire .............................................................. 305
Chapter Eight The Crisis of Modernisation and Islamicisation:
From Reform to Revival (1800 A.C.–20th Century) .......... 315

First: Traditional Reform Movements .................................. 316

Second: Reconciling Reform Movements ............................ 319
Third: Secularisation Reform Movements .......................... 326
Islam Triumphant: The Revival .......................................... 327
Main Features of Revivalism ................................................ 329
Intellectual Developments ...................................................... 338

Chapter Nine Islamic Economic Renaissance: Islamic
Economics in the Twentieth Century .................................. 348

Influencing Factors ................................................................ 349
The Topics ............................................................................ 355
Bàqir al-Sadr .......................................................................... 392
Iqtisàduna, Our Economics .................................................. 392
The Future of Islamic Economics ........................................ 399

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