The Islamic Economic Doctrine

The Islamic Economic Doctrine is a comparative study that looks at the fundamental principles of Islamic economics, and compares them with the economic and philosophical foundations of capitalism and Marxism. The book draws heavily on verses of the Quran, as well as sayings and actions of the Prophet Muhammad and various saints and imams, considering viewpoints put forward by scholars of various faiths within the Muslim religion. The volume is fairly comprehensive, and covers a variety of critical economic issues such as the role of the state, banking and finance, risk taking, theory of value, ownership of assets, socioeconomic development, social justice and cohesion, land and natural resources, distribution and production of goods and services. All of these issues are considered within an Islamic context and compared with the other two main doctrines of capitalism and Marxism.

Muhammad Al-Sadr is a well-known and widely recognized Islamic scholar with writings in several areas, including philosophy, interpretations of the Quran, economics, scientific methods, and logic. He wrote this volume to refute the notion that Islam has no doctrine or theory to tackle the major socioeconomic problems facing the modern world.