Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory)
Unlike the two systems of capitalism and socialism, in both of which consumption is only for the satisfaction of material needs, in Islam, in addition to material needs, some spiritual needs such as charity and some religious obligations also affect consumption. For this reason, in the Islamic socie...
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Center for Religious Sciences Kom, Belgrade
2023-01-01
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| Series: | Kom: Časopis za Religijske Nauke |
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| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/2334-6396/2023/2334-63962302043R.pdf |
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| author | Rezai Ahmadali |
| author_facet | Rezai Ahmadali |
| author_sort | Rezai Ahmadali |
| collection | DOAJ |
| description | Unlike the two systems of capitalism and socialism, in both of which consumption is only for the satisfaction of material needs, in Islam, in addition to material needs, some spiritual needs such as charity and some religious obligations also affect consumption. For this reason, in the Islamic society, the reason for consumption should not be sought only in the increase of income and its positive and negative changes, but religious demands also affect consumption. Therefore, the theories of consumption in Islamic and non-Islamic countries will be different, which can be the result of different philosophical foundations related to consumption in these two types of economic systems. In this regard and considering the importance of consumption in a society, this research has investigated the issue of what is the difference between the philosophical foundations and consumption theory in Islamic economy and capitalist economy (focusing on Keynes' consumption theory). The findings of the research showed that the foundations and assumptions of consumer behavior theories in Islamic economy and capitalist economy are different in matters such as anthropological foundations, goals and motivations of consumer, and methods of achieving goals. Also, the theory of consumption showed that although the theory of consumption in Islamic economy and capitalist economy has similarities, including that in both of them, people's consumption is a function of their current income. In both, there is independent consumption of national income; and as the income increases, the marginal propensity to consume decreases, but in the consumption theory of Islamic economy, there is a limit to society's extravagance, which does not exist in the capitalist consumption function, and the Islamic consumption function is able to explain the effect of the quality of national income distribution among people on their consumption, which is not the case in the capitalist consumption function. |
| format | Article |
| id | doaj-art-4e633907949548579cc1d9185cdee7c2 |
| institution | Kabale University |
| issn | 2334-6396 2334-8046 |
| language | English |
| publishDate | 2023-01-01 |
| publisher | Center for Religious Sciences Kom, Belgrade |
| record_format | Article |
| series | Kom: Časopis za Religijske Nauke |
| spelling | doaj-art-4e633907949548579cc1d9185cdee7c22025-02-05T13:14:08ZengCenter for Religious Sciences Kom, BelgradeKom: Časopis za Religijske Nauke2334-63962334-80462023-01-01122436810.5937/kom2302043R2334-63962302043RComparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory)Rezai Ahmadali0Al-Mustafa International University, Qom, Islamic Republic of IranUnlike the two systems of capitalism and socialism, in both of which consumption is only for the satisfaction of material needs, in Islam, in addition to material needs, some spiritual needs such as charity and some religious obligations also affect consumption. For this reason, in the Islamic society, the reason for consumption should not be sought only in the increase of income and its positive and negative changes, but religious demands also affect consumption. Therefore, the theories of consumption in Islamic and non-Islamic countries will be different, which can be the result of different philosophical foundations related to consumption in these two types of economic systems. In this regard and considering the importance of consumption in a society, this research has investigated the issue of what is the difference between the philosophical foundations and consumption theory in Islamic economy and capitalist economy (focusing on Keynes' consumption theory). The findings of the research showed that the foundations and assumptions of consumer behavior theories in Islamic economy and capitalist economy are different in matters such as anthropological foundations, goals and motivations of consumer, and methods of achieving goals. Also, the theory of consumption showed that although the theory of consumption in Islamic economy and capitalist economy has similarities, including that in both of them, people's consumption is a function of their current income. In both, there is independent consumption of national income; and as the income increases, the marginal propensity to consume decreases, but in the consumption theory of Islamic economy, there is a limit to society's extravagance, which does not exist in the capitalist consumption function, and the Islamic consumption function is able to explain the effect of the quality of national income distribution among people on their consumption, which is not the case in the capitalist consumption function.https://scindeks-clanci.ceon.rs/data/pdf/2334-6396/2023/2334-63962302043R.pdfconsumptionphilosophical foundations of consumptionkeynes' consumption theoryislamic economy consumption theory |
| spellingShingle | Rezai Ahmadali Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) Kom: Časopis za Religijske Nauke consumption philosophical foundations of consumption keynes' consumption theory islamic economy consumption theory |
| title | Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) |
| title_full | Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) |
| title_fullStr | Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) |
| title_full_unstemmed | Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) |
| title_short | Comparison of philosophical foundations and consumption theory in Islamic economy with capitalist economy (Focusing on Keynes' consumption theory) |
| title_sort | comparison of philosophical foundations and consumption theory in islamic economy with capitalist economy focusing on keynes consumption theory |
| topic | consumption philosophical foundations of consumption keynes' consumption theory islamic economy consumption theory |
| url | https://scindeks-clanci.ceon.rs/data/pdf/2334-6396/2023/2334-63962302043R.pdf |
| work_keys_str_mv | AT rezaiahmadali comparisonofphilosophicalfoundationsandconsumptiontheoryinislamiceconomywithcapitalisteconomyfocusingonkeynesconsumptiontheory |