Fiscal Policy Objectives in Islamic Economics - The fiscal policy objectives in Islamic economy will be different from the interpretation of non-Islamic economic system. But just have in common are equally analyzed and make economic policy. The goal of all economic activity for all mankind is to maximize the well-being of human life. Public policy is a means to achieve these goals (Muhammad, 2002; 197-198).
On the economic system of secular/non-Islamic, the concept of the welfare of living is getting the maximum benefit for the individual in this world. There is not something that is granted to the community for the fulfillment of human spiritual needs. In Islam, the concept of well-being is extensive, covering life in the world and in the hereafter as well as increased spiritual emphasis rather than possession of the material. Meanwhile, the economy is the encyclopedia value of secular. In Islamic economic system is a core value of oral. This distinction should always be kept in our souls, for they provide the proper interpretation of the various objectives and priorities of the instructions.
Fiscal policy in capitalist economies aimed to
On the economic system of secular/non-Islamic, the concept of the welfare of living is getting the maximum benefit for the individual in this world. There is not something that is granted to the community for the fulfillment of human spiritual needs. In Islam, the concept of well-being is extensive, covering life in the world and in the hereafter as well as increased spiritual emphasis rather than possession of the material. Meanwhile, the economy is the encyclopedia value of secular. In Islamic economic system is a core value of oral. This distinction should always be kept in our souls, for they provide the proper interpretation of the various objectives and priorities of the instructions.
Fiscal policy in capitalist economies aimed to
- Allocating resources efficiently;
- the achievement of economic stability;
- encourage the growth of the economy; the latter mdan
- the attainment of appropriate income distribution (F.R. Faridi, A Theory of Fiscal Policy in an Islamic State with Munawar and Fahim Khan, 1981, p. 52).
As indicated by Faridi and Slama (two Muslim economists) that the purpose of this remains lawful in the economic system of Islam, although their interpretation will be different.
Furthermore, the fiscal policy in the economy of Islam also aimed "at the safe-guarding and spreading the religion within the country as well as in the world at large." In fact, although the goals of growth, stability and so forth remains valid in Islamic Economics, these goals would be subservient to the purpose of tackling the Muslims and Islam as a political entity as well as Da'wah and spreading the religion throughout the world.
Furthermore, the fiscal policy in the economy of Islam also aimed "at the safe-guarding and spreading the religion within the country as well as in the world at large." In fact, although the goals of growth, stability and so forth remains valid in Islamic Economics, these goals would be subservient to the purpose of tackling the Muslims and Islam as a political entity as well as Da'wah and spreading the religion throughout the world.
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