This episode is the second of a four-part discussion that relates to Ali Salman’s book, "Islam & Economics: A Primer on Markets, Morals and Justice". In this part, we further discuss the Islamic economic principles of wealth creation.
Ali Salman is an economist by training, and CEO of Islam and Liberty Network. He is the founder of Policy Research Institute of Market Economy (PRIME) in Pakistan. He is currently based in Malaysia, where he heads a leading think tank, Institute for Democracy and Economic Affairs (IDEAS).
01:19 – How do people interpret the Hadith of price control
03:32 – The importance of regulations.
07:39 – Does Islam prefer economic freedom over social justice?
08:41 – Has the definition of social justice changed?
19:29 – The principles of free trade
12:12 – Does Islam prefer a no tax principle?
15:13 – Hisbah – market regulator
17:07 – Does Islam prefer state regulators over private entities?
21:08 – The Gold Standard and Fiat Currency in Islamic context
23:25 – How do they value intrinsic currency?
25:05 – Why is there a call to return to the gold standard?
28:13 – Is there such a thing as Islamic currency?
29:37 – Riba
33:33 – How does this apply to credit?
35:30 – Does Riba has to be unjust before be considered Riba?
36:34 – Consensus between two parties is not enough
38:58 – Closing remarks
Episode 078 - Religion, Violence, and Peacebuilding
Episode 077 - Non-Violent Extremism
Episode 076 - Challenges & Achievements in Promoting Shariah Compliance Products in the Islamic Economy
Episode 075 - Market Economy from an Islamic Perspective
Episode 074 - Religious Rights in Indonesia
Episode 073 - Notion of Equality in Islamic Law
Episode 072 - Liberty & Democracy Case of Türkiye
Episode 071 - Development & Freedom in Bangladesh
Episode 070 - Social Non-Movements in Muslim Majority Countries
Episode 069 - Comments on Revisiting Ibn Khaldun’s view of Khidma
Episode 068 - Un-productive labour: Revisiting Ibn Khaldun’s view of Khidma
Episode 067 - Women & Economic Prosperity
Episode 066 - Personal Freedom & the Dress Code in Iran
Episode 065 - Equality & Women Rights
Episode 064 - Algeria & Muslim World from Economic Perspective (2011-2019)
Episode 063 - Free Markets: Perspectives from Turkiye
Episode 062 - Roadmap for Economic Reforms in Tunisia
Episode 061 - Can Muslims Save Democracy? Muslim Minority Communities Resisting Illiberalism
Episode 060 - Rule of Law & Democracy
Episode 059 - The Future of Democracy in Tunisia
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