Wealth and Poverty: Introduction

Abstract

Economics, since its inception as an autonomous discipline, has regarded the creation of wealth as a central part of its theoretical outlook and practical agenda. The expansion of wealth has been consistently embraced as the ideal means to alleviate the social and economic problems resulting from scarcity and poverty. A careful examination of ancient and medieval economic thought, however, reveals a different view of the relationship between wealth and poverty. Part 2 attempts to contribute a distinctive perspective to this debate, by examining the Islamic position on the relationship between wealth and poverty, and the implications of this position with respect to modern economic theory and policy. We engage in a comparative analysis with the views of Christian and secular schools of economic thought.