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eBook Title: Social And Economic Issues On Money And Real Economy Relations: Perspectives From Islamic Economics And Finance
eBook : Social And Economic Issues On Money And Real Economy Relations: Perspectives From Islamic Economics And Finance
This e-book on Islamic Perspectives of Social Financing brings together selected papers on the nature of the Islamic financial system, the concept of social capital, and thereby of social goods and social money that are part and parcel of the ethical market transformation in the Islamic economy. A paper contrasts the fractional reserve requirement monetary system and its structure based primarily on fiat money with the conception and functions of money in the Islamic economy supported by the gold standard. This perspective beckons the strong case of a return to the gold standard, which prior to the paper money regime proved to generate stable non-inflationary prices and economic productivity. Thus social justice was dispensed through such money as gold-backed currency in circulation in the good things of life. Social accounting further sharpens this view of money and real economy through the function of the financial sector in maximizing resource mobilization in the direction of goods and services recommended under the Islamic law concerning worldly matters, such as society, economy, political economy, polity and human wellbeing.
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