This book briefly surveys the evolution of the Western concept of development, recognizing the wider dimensions of human and economic development and the role of institutions and rules, which has moved toward the vision and the path of development envisaged in Islam.
There is a cognitive deficit between the holistic vision for human and societal development in Islam and the results achieved by Muslim societies. The authors begin by looking at the Western concept of development, which in recent years has recognized the wider dimensions of human development and the role of institutions. Thus Western thinking has moved toward the Islamic vision and path of development, emphasizing human solidarity, belonging, well-being, sharing, concern for others, basic human entitlements, and modest living. The authors illuminate the Quranic vision and the experience of the society organized by the Prophet, which together represent the Islamic paradigm.
About the Authors
Abbas Mirakhor is the First Holder of INCEIFs Chair in Islamic Finance at INCEIF – The Global University of Islamic Finance, Malaysia. He was the Executive Director and Dean of the Executive Board of the International Monetary Fund. He received his PhD from Kansas State University, USA.
Hossein Askari is Iran Professor of International Business and International Affairs, George Washington University, USA.
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Table of Contents
The Evolution of the Western Concept of Development
Development as Human Well-being
The Foundational Elements of Development in Islam
The Dimensions of Development in Islam
The Institutional Structure of Development in Islam
Title: Islam and the Path to Human and Economic Development
Authors: Abbas Mirakhor and Hossein Askari
Publisher: Palgrave Macmillan US
Pub. Date: 2014/08/26