Abstract
The methodology of social welfare function and its extension to cost-benefit analysis will now be adapted to the case of Islamic economics. Some of the critical points will be pointed out first.
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Notes and References
M. A. Zarqa, ‘An Islamic Perspective on the Economics of Discounting in Project Evaluation’, Z. Ahmed et al. (eds), in Fiscal Policy and Resource Allocation in Islam (Jeddah, Saudi Arabia: International Centre for Research in Islamic Economics, and Islamabad, Pakistan: Institute for Policy Studies, 1983).
See also K. Ahmed (ed.), Studies in Islamic Economics (Leicester: Islamic Foundations, 1980); Proceedings of the Second International Conference on Islamic Economics held at Makkah, Saudi Arabia (Jeddah, Saudi Arabia: International Centre of Islamic Economics, King Abdulaziz University, 1983); C. Tomkins and R. A. Abdel Karim, ‘The Shariah and Its Implications for Islamic Financial Analysis: An Opportunity to Study Interactions Among Society, Organizations and Accounting’, The American Journal of Islamic Social Sciences (Vol. 4, No. 1, 1987).
M. A. Choudhury. Contributions to Islamic Economic Theory: A Study in Social Economics (London: Macmillan, 1986), Ch. 3.
M. A. Choudhury An Islamic Social Welfare Function (Indianapolis, Ind.: American Trust Publications, 1983), Ch.
S. N. H. Naqvi, ‘Interest Rate and Intertemporal Efficiency in an Islamic Economy’ (mimeo, Jeddah, Saudi Arabia: International Centre for Research in Islamic Economics, King Abdulaziz University, 1983).
A. Okun, Equality and Efficiency, the Big Tradeoff (Washington, DC: The Brookings Institute, 1975).
M. A. Choudhury. The Paradigm of Humanomics (Bangi, Malaysia: The National University of Malaysia Press, 1989), Ch. 5.
M. Muslehuddin, Insurance and Islamic Law (Lahore, Pakistan: Islamic Publications, 1969).
Thus the predominantly positivistic nature of neoclassical economics, e.g. L. Robbins, An Essay on the Nature and Significance of Economic Science (London: Macmillan, 1935) and
M. Friedman, Essays in Positive Economics (Chicago, Ill.: University of Chicago Press, 1953).
See, for example, W. H. Jean, The Analytical Theory of Finance: A Study of the Investment Decision Process of the Individual and the Firm (New York: Holt, Rinehart & Winston, 1970).
This is the stable characteristic of a growing population. See N. Keyfitz, Introduction to the Mathematics of Population (Reading, Mass.: Addison-Wesley, 1968);
A. Lopez, Problems in Stable Population Theory (Princeton, NJ: Princeton University Press, 1961).
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© 1992 Masudul Alam Choudhury
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Choudhury, M.A. (1992). A Theory of Cost-Benefit Analysis in Islamic Economics. In: The Principles of Islamic Political Economy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22439-5_4
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DOI: https://doi.org/10.1007/978-1-349-22439-5_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-22441-8
Online ISBN: 978-1-349-22439-5
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