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Exchange

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The Economic System of the Early Islamic Period

Part of the book series: Political Economy of Islam ((PEoI))

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Abstract

The processes of market exchange and the necessary conditions for efficiency are discussed in this chapter with the help of the Edgeworth box diagram and the contract curve. Also, the effect of policies and measures that were implemented by the Prophet of Islam (SAAS) on the initial distribution of wealth, and the impact of market ethics and rules of exchange on the efficiency of market price determination and income distribution among the Muhajerin (immigrants) and the Ansar (helpers) is also discussed. The chapter will conclude by showing the effect of Islamic property rights on the relative shares of factors of production.

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References

  • Ahmadi Mianaji. 1361/1982.Osul Malekiat dar Islam, Daftar Entesharat Islami, Qom.

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  • Waqedi, Muhammad Bin Omar. 1361/1982, 1362/1983, 1366/1987 [vols. 1,2,3, respectively] (Maghazi translated by Mahmood MahdaviDamghani), Markaz Nashr Daneshgahi. Tehran: University Publications Center.

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Authors and Affiliations

  1. INCEIF—The Global University of Islami, Kuala Lumpur, Malaysia

    Seyed Kazem Sadr

Authors
  1. Seyed Kazem Sadr
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© 2016 The Editor(s) (if applicable) and The Author(s)

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Sadr, S.K. (2016). Exchange. In: The Economic System of the Early Islamic Period. Political Economy of Islam. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-50733-4_10

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  • DOI: https://doi.org/10.1057/978-1-137-50733-4_10

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  • Publisher Name: Palgrave Macmillan, New York

  • Print ISBN: 978-1-137-51749-4

  • Online ISBN: 978-1-137-50733-4

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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