Abstract
This chapter argues that the contemporary Islamic governed state should not blindly align itself with any economic dogma, and instead must choose a middle path that embraces elements of capitalism and socialism in ways that are within the general ethical framework of Islamic economic justice. It bases much of its argument on the ideas of Ibn Khaldun and the notion of wasaṭiyyah or moderation. Economic fairness is Islam is a moral category and a concern for the common good (al maṣlaḥa) is incumbent upon any system of Islamic justice. This chapter also argues that Islamic governed states ought to engage in ḥalāl business and banking practices.
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Kaminski, J.J. (2017). The Importance of Economic Justice in a Contemporary Islamic Governed State. In: The Contemporary Islamic Governed State. Palgrave Series in Islamic Theology, Law, and History. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-57012-9_7
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