Labor Economics in an Islamic Framework : Theory and Practice (Hardcover)

List of illustrations List of tables List of boxes About the authors Foreword Preface Part I Chapter 1 Introduction to Labor Economics in an Islamic Framework Rationale Labor as a Factor of Production The Importance of Labor Labor Market in a Conventional Setting Why Labor Market in an Islamic Setting? Maqsad al Shari’ah (Objective of Islamic Jurisprudence) Chapter Organization Chapter 2 Mainstream Labor Market Models: A Review 2-1 Labor Supply 2-2 Labor Demand 2-3 Labor Market Equilibrium 2-4 Compensating Wage Differentials 2-5 Human Capital 2-6 The Wage Structure 2-7 Labor Mobility 2-8 Labor Market Discrimination 2-9 Labor Unions 2-10 Incentive Pay 2-11 Unemployment 2-12 Austrian Labor Economics Summary Chapter 3 Contributions of Islamic Scholars on Labor Economics and Some Empirical Evidence of Medieval Islam 3-1 Teachings of Qur’an and Sunnah 3-2 The First Phase (700-1400AD) 3-3 The Second Phase: The Foundations and Development ? (1058 - 1446) 3-3-1 Abu Hamid Al-Ghazali (1058?1111) 3-3-2 Imam Ibn Taymiyyah (d. 1328 AD) 3-3-3 Ibn Qayyim (1292?1350) 3-3-4 Ibn Khaldun (d. 1404 AD) 3-4 The Third Phase: The Foundations and Development? (1446 - 1932) 3-4-1 Shah Waliullah (d. 1762 AD) 3-5 Division of Labor: Thoughts of Prominent Persian Muslim Scholars 3-6 Wages and Opinions of Muslim Jurists 3-7 Empirical Evidence of Labor Market in the Medieval Period of Islam 3-7-1 Child Labor Force 3-7-2 Wages 3-7-3 Female Labor Force during the Islamic Medieval Period 3-7-4 Human Capital Summary Chapter 4 Work in Islam 4-1 The Concept and Nature of Labor 4-2 The Importance of Labor 4-3 The Capacity and Care of Workers 4-4 Labor-Less Earnings 4-5 The Rights and Duties of Workers 4-6 Labor and Capital 4-7 The Relationship between Employer and Employee Summary Chapter 5 System of Industrial Relations in an Islamic Framework 5-1 Management and Nexus of Contract 5-2 Environment of Participation and Cooperation 5-3 Division of Labor 5-4 Management ?Workers Relationship and Some Modern Hypotheses Summary Chapter 6 The Labor Market in an Islamic Setting: Review and Prospects 6-1 An Overview of the Labor Market and its Mechanism in a Conventional Setting 6-1-1 Two Ways of Analyzing Labor Markets 6-2 The Labor Market and its Mechanism in an Islamic Framework 6-2-1 Cornerstones for the Mechanism of Labor Market in an Islamic Framework 6-2-1-1 Mechanism of the Labor Market 6-2-1-2 Supply of Labor 6-2-1-2-1 Gender, Child Labor and Work in an Islamic Society 6-2-1-3 Demand for Labor 6-2-1-3 -1 Demand for Labor and Human Capital 6-2-2 Wages 6-2-2-1 Wages and Norms of the Labor Market in an Islamic System 6-2-2-1-1 Flexibility of Wages 6-2-2-2 Economics of the Family 6-2-2-3 Reservation Wage 6-2-3 The Role of State 6-3 Research into the Labor Market in the Periphery of Islam: A Drought 6-4 Some Graphical Exposition Summary Chapter 7 Wages in an Islamic Economy 7-1 Status of Wages and Shari’ah Ruling 7-2 Determination of Wages and the Islamic Labor Market 7-3 Islamic Concept of Wages and Modern Theories: A Comparative Analysis Summary Part II Chapter 8 An Overall View of the Muslim Countries 8-1 The State of Economy 8-2 Goods Market 8-2-1 Production 8-2-2 Growth 8-2-3 Saving and Investment Trends 8-3 Money Market 8-4 Labor Market 8-5 The Social Impediments Summary Chapter 9 The Current Status of Labor Market in Muslim Countries 9-1 The Structure of the Labor Market 9-1-1 The State of Unemployment 9-2 Labor Force Participation Rate 9-2-1 Aggregate Demand 9-2-2 Spending of Charitable Assets 9-2-3 Concept of Welfare State 9-3 Skilled Labor Force 9-4 Brain Drain 9-4-1 Brain Drain within the Member Countries 9-5 Cooperation among the Muslim Countries 9-5-1 Extended Market 9-6 Internal and External Shocks to the Labor Market Summary Chapter 10 State of Poverty and Labor Market 10-1 Introduction 10-2 State of Poverty in the Muslim Countries 10-3 Wage Structure, Prices of Cereals and Comparison with the Developed World 10-4 Transfer of Technology Summary Chapter 11 Labor and Social Security: Theory and Practice 11-1 Introduction 11-2 Modern Concept of Social Security 11-3 Islamic Concept of Social Security 11-3-1 Morality and Social Security 11-3-2 Non-Muslim Subjects 11-3-3 Umar ibn al-Khattab's Social Security System (634-644 AD) 11-4 Current Practice of Social Security in the Muslim Countries Summary Chapter 12 Conclusion 12-1 Research into the Labor Market in the Periphery of Islam: A Drought Bibliography Index