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A consumer and social welfare model based on the writings of Shibani (750-805 AD, 131-189 AH)

PSL Quarterly Review

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Title A consumer and social welfare model based on the writings of Shibani (750-805 AD, 131-189 AH)
 
Creator Ghassan, Hassan B.; Umm Al-Qura University
 
Subject consumer, faith, Zakat, imperative, recommended, permissible, earning, spending, utility.
D1, D6, I3, P46
 
Description The novelty of Shibani’s earning model is its integration of Zakat and other social giving in the social welfare function, which makes the consumer utility a multi-dimensional devotional, material, ethical, social, Shariah-compliant function. In the model, the consumer’s income evolves increasingly from imperative earning that covers consumer’s basic needs, to recommended earning that covers basic needs of relatives; and to permissible earning that covers the poor’s needs. Accordingly, the model has imperative, recommended, and permissible utility. The rich consumer draws additional utility from Zakat spending in favor of the poor consumers. Based on the social solidarity, we show that the marginal earning depends on the first difference between the MPC of lower and upper social groups. The permissible marginal utility is related to the faith interaction and enhances the social utility as social transfer is paid to poor and needy groups.JEL codes: D1, D6, I3, P46Keywords: consumer, faith, Zakat, imperative, recommended, permissible, earning, spending, utility.
 
Publisher Economia civile
 
Contributor —
 
Date 2016-09-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13702
10.13133/2037-3643_69.278_2
 
Source PSL Quarterly Review; Vol 69, No 278 (2016): September; 235-266
PSL Quarterly Review; Vol 69, No 278 (2016): September; 235-266
2037-3643
ISSN 2037-3635
 
Language eng
 
Relation http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/13702/pdf_1
 
Rights Copyright (c) 2016 Hassan B. Ghassan
http://creativecommons.org/licenses/by-nc-nd/4.0