The Evaluation of the Role of the State in the Economy According to the Perspectives of Islamic and Classical Economists Cover Image

Devletin Ekonomideki Rolünün İslam İktisatçıları ile Klasik İktisatçıların Bakış Açılarına Göre Değerlendirilmesi
The Evaluation of the Role of the State in the Economy According to the Perspectives of Islamic and Classical Economists

Author(s): Murat Fidan, Serkan Dilek
Subject(s): Economy, Islam studies, Government/Political systems, Politics and religion, Financial Markets, Qur’anic studies
Published by: Kilis 7 Aralık Üniversity
Keywords: Islamic Economics; Public Sector; Classical Economics Approach; Role of State in Economy; State Intervention in Markets;

Summary/Abstract: The role of the state in the economy is one of the fundamental questions on which economists cannot have consensus. Adam Smith and classical economists argued that the state should intervene in the economy as little as possible. The role of the state in the economy in the studies of Islamic economy, which has increased since the second half of the 20th century, has also been revealed in the Qur'an and the Sunnah. The aim of the study is to examine the differences and similarities between Islamic economics and classical economics approaches about the role of the state in the economy. As a result of the study, it was concluded that both approaches have similar arguments about not interfering with market prices as much as possible. However, the Islamic economy transfers a significant portion of the supply of public goods to the voluntary sector through foundations. The classical economics approach, on the other hand, does not take kindly to public entrepreneurship, and in this respect, there are similarities between the two views. While classical economics does not prevent or even supports the accumulation of wealth, it is tried to prevent the accumulation of wealth in one hand in the Islamic economy. In short, similarities and differences between Islamic economics and classical economics have been determined.

  • Issue Year: 2022
  • Issue No: 1
  • Page Range: 105-121
  • Page Count: 17
  • Language: Turkish