Labor in an Islamic Setting: Theory and Practice

The Islamic labor market rests on the principles of the free market exchange of Islamic economics. Regrettably, the latter has failed to keep pace with the rapidly growing academic and professional developments of the former. Much of the published work within Islamic economics is idealistic if not radically ideological with little relevance to the Islamic labor market, leaving students of Islamic economics without a coherent body of economic theory to understand the practical objectives of Shariah (i.e. the maqasid) that gives a sense of direction to the developments in this field. Drawing upon received sources of maqasid of Shariah, the authors present an independent academic work which:Emphasizes the common conceptual grounds of labor market behavior shared by the maqasid of Shariah approach as well as the conventional approach to economics.Adopts standard textbook tools to explain industrial relations. Extends the conventional scope of the labor market and forces of the labor market under the umbrella of Shariah.Provides bullet-form learning outcomes for each chapter coupled with chapter-wise previews, bullet-form summaries and review questions.Enables readers and practitioners of Islamic economics to make economic sense of Shariah compliance and human resource developmentExplains how the economics of maqasid of shariah is liable to offer moral guidance and a sense of direction to regulators and practitioners of the Islamic Labor market.Labor in an Islamic Setting will be of interest to postgraduate students, middle and senior management in both the western and the Islamic business communities, researchers and policy makers.