The validity of any system can be determined by the soundness of its principles and its success can be determined by how effective and efficient it is in achieving its stated goals in any given environment. What is the goal of any political economy? Has today’s existing system satisfied the people? Or are the recurring cyclical depressions and recessions inherent in the capitalist system taking its toll? Does Islam have a system to offer that could possibly cater to the needs of the modern times? What principles of political economics was t he 2nd Caliph of Islam following that created a community where there were no “poor” people left? Can Islam really eradicate poverty? How is piety related to a political economy? This paper will address the details of the Islamic Political Economy, how it proved to be a successful model in the past and how it has become relevant once again today.
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Copyright (c) 2011 Prof. Dr. Muhammad Ahmed Qadri, Dr. Suwaibah Qadri