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Efficiency and Justice

  • Seyed Kazem Sadr
Chapter
Part of the Political Economy of Islam book series (PEoI)

Abstract

This chapter expounds on efficiency and justice. The concepts of absolute and relative efficiency are defined and shown to depend on the underlying definition of justice in alternative economic systems. Then, various definitions of justice, including that from an Islamic standpoint, are deduced and applied. On the basis of this notion, the social welfare function and general equilibrium point is obtained and it is shown that all consumption, production and exchange processes are both efficient and equitable.

Keywords

Social Welfare Social Justice Social Welfare Function Indifference Curve Total Utility 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Ayati, Muhammad Ebrahim. 1359/1980. History of Islam, ed. Abolghasem Gorji (in Persian). Tehran: Tehran University Press.Google Scholar
  2. Lee, Friedman. 1986. Microeconomic Policy Analysis. Singapore: McGraw-Hill Book Co.Google Scholar
  3. Motahhari, Morteza. 1353/1974. Adl Ilahi. Tehran: Entesharat Islami.Google Scholar
  4. Motahhari, Morteza. 1358/1979. Bist Goftar. Qom: Sadra Publications.Google Scholar
  5. 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.Google Scholar

Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • Seyed Kazem Sadr
    • 1
  1. 1.INCEIF—The Global University of IslamiKuala LumpurMalaysia

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