The Wealth Distribution System and Its Role in Achieving  Economic Efficiency in the Islamic System

Hanifa  Zaidi

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Published: Oct 24, 2024

Keywords:

Wealth distribution, distribution criteria, distributive justice, economic efficiency.

Hanifa Zaidi

Abstract

The economic system encompasses mechanisms for making and implementing economic decisions related to the allocation of resources, with the aim of achieving economic objectives. It is essential to understand how the type of economic system impacts economic outcomes. Certain areas play a key role in evaluating economic performance, where many researchers agree on the importance of the following criteria: justice in wealth and income distribution, economic efficiency, economic stability, economic growth, and economic development goals. This paper explores the effectiveness of the justice criterion in wealth distribution within the Islamic economic system and the methods for achieving the optimal allocation of material and human resources to ensure efficiency in economic performance. It also examines the relationship between distributive justice and economic efficiency. The study emphasizes a fair distribution system that is not solely based on labor or property ownership but establishes a unique distributive framework that incorporates legal principles, organized according to efficiency and justice considerations, ranging from labor, property ownership, to need and poverty. These criteria ensure comprehensive economic efficiency and fair welfare.

Issue

Vol. 61 No. 10 (2024)

Section

Articles

This work is licensed under a Creative Commons Attribution 4.0 International License.

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