The book, The Frontiers of Islamic Economics unfolds a number of key issues in Islamic economics. Each of the essays has its own distinctive features in highlighting some of the less recognised or neglected areas of Islamic economics. After clarifying some of the philosophical and methodological issues, the book has, among other, provided a critique of the prevailing notion of moderation in consumption, thereby indicating the need to develop the theory of conspicuous under-consumption for Muslim countries as well as provided insights into the further development of the Concept of 3C's (co-operation, competition and control). It argues that in Islam distribution should activate both production and consumption.
Lastly, it demonstrates that the concept of 'effective need' instead of conventional 'effective demand' should serve as a basis for market mechanism.
Muhammad Abdul Mannan
M.A. (Rajshahi), M.A. Econ. (Michigan), Ph.D.
(Mich), Certificate-in-Dev. (U.S.A.)
International Centre for Research in Islamic Economics
King Abdul Aziz University
Jeddah, Saudi Aabia
Dr. MOHAMMAD ABDUL MANNAN who received both his Master's and Doctorate degree from the Michigan State University (U.S.A.) taught and researched at the same University; currently Research Professor at the International Centre for Research in Islam Economics, King Abdulaziz University, Jeddah, Saudi Arabia; also Asian Development Bank Consultant in the areas of Development and Monetary Economics, Public and Islamic Finance. Commissioned as Consultant Islamic Development Bank; served the Papua New Guinea University of Technology as Senior Lecturer in Economics and Business studies; also as Assistant Chief in the federal Planning Commission of Pakistan in the mid-'60s, and in other Important capacities, having over 24 years of cross-cultural diverse experience. Dr. Mannan is amongst the pioneers of Islamic economics, the first English edition of his book; Islamic Economic: Theory and Practice (1970), has been published and reprinted over 12 times during the '70's in several languages including English, Arabic, Turkish and Malayan. Author's another major work on Islarnic economics (in three volumes): The Making of Islamic Economic Society; Islamic dimensions in economic analysis (1984) has also been published. Author's other forthcoming works are: Islamic Finance; Securities Market in an Islamic Framework"; "Economic Development in Islam (ed). Besides these, his other research reports, articles and books concerning economics of under-developed countries, economics of education, Islamic economics money and banking are published from at least thirteen countries including Australia, Bangladesh, Egypt, India, Japan, Kuwait, Malaysia, Pakistan, Papua New Guinea, Saudi Arabia, Turkey U. K. and the U. S. A.
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