Production, Social Welfare, and Growth: An Islamic Economics Perspective

Our argument is that since the Islamic religion is valid and pervasive, its economic results should be more congruent, logical, and beneficial in providing human happiness and easing the burden of worldly life. Whereas the Western style subjugates everything that can serve material progress and capital accumulation as a means of production or productive relations, Islamic philosophy takes the world only as a temporary place but worthwhile to the extent that it preserves life; therein, production is a process that excludes whatever is harmful to humanity and nature, economic growth takes environmental issues and revenue distribution into account and social welfare is not just for wealthy people it is distributed by sincerity to all people in society.