A Macro Model of Distribution in An Islamic Economy

Abstract

Each society produces a specific quantum of goods and services in order to distribute it among its members for final use. However, due to a number of reasons, the efficiency with which this can be done has varied from society to society and over time within a society. So far, an optimal system of distribution has not been devised. In this context, two consideration - equity and justice - merit special attention. Equity is required so that grave inequalities in the distribution of income and wealth do not arise and no significant number of human beings are left out in the cold, unable to get the benefit of the economic endeavors of the society. Justice is necessary, so that each group and component is well-rewarded and no economic entity is deprived of its due share in the national product.

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