MACMILLAN Towards a Maqāṣid al-Sharīʿah Index of Socio-Economic Development: Theory and Application (Palgrave Studies in Islamic Banking, Finance, and Economics)

Islamic economics, which is a discipline for studying economic behaviour from an Islamic perspective, advocates comprehensive human development defined by advancement and progress in multiple dimensions beyond GDP, income, or standard of living. Not only should socio-economic progress be in all dimensions but it should also have a higher purpose. A society is considered economically and socially developed if adequate protections are provided for faith, life, intellect, progeny, and wealth. This concept of balanced progress itself is an important idea recognized by the sociologists. However, the same has so far not been measured or used in policy making by economists. Similarly, lack of adequate protections in a society along these dimensions indicates poverty which is another way of measuring slack in development. The chapters in this edited volume deal with conceptualization of socio-economic development on these lines, and show how to measure socio-economic development in a comprehensive way. The book will be of interest to academics in the fields of economics, economic development, and Islamic economics. It will also be of interest to policy makers engaged in economic development, social progress, and poverty alleviation.  From the Back Cover Islamic economics, which is a discipline for studying economic behaviour from an Islamic perspective, advocates comprehensive human development defined by advancement and progress in multiple dimensions beyond GDP, income, or standard of living. Not only should socio-economic progress be in all dimensions but it should also have a higher purpose. A society is considered economically and socially developed if adequate protections are provided for faith, life, intellect, progeny, and wealth. This concept of balanced progress itself is an important idea recognized by the sociologists. However, the same has so far not been measured or used in policy making by economists. Similarly, lack of adequate protections in a society along these dimensions indicates poverty which is another way of measuring slack in development. The chapters in this edited volume deal with conceptualization of socio-economic development on these lines, and show how to measure socio-economic development in a comprehensive way. The book will be of interest to academics in the fields of economics, economic development, and Islamic economics. It will also be of interest to policy makers engaged in economic development, social progress, and poverty alleviation.  About the Author Salman Syed Ali is the lead economist at the Islamic Research and Training Institute at the Islamic Development Bank (IsDB) where he has worked as an economist since 2002. Prior to that, he was Director of Research and Training at International Islamic University, Pakistan. He studied at the International Islamic University Islamabad and the University of Pennsylvania.