Social accounting in Islamic political economy

Abstract

Purpose

To explore the outer reaches of buying, selling, property rights in an Islamic context.

Design/methodology/approach

Philosophical, applying legal analysis, critique to the work of Richard Epstein.

Findings

That there are no exceptions to the general rule that, under full free enterprise, anything must be allowed to be purchased, sold or given away.

Research limitations/implications

To attain a system of laissez‐faire capitalism, the law should be changed so as to recognize voluntary slave contracts.

Practical implications

There would be very few or none in an advanced wealthy society. However, there might be some in the underdeveloped world.

Originality/value

It advances one's knowledge of the marketplace, law and contracts.

Citation

Harahap, S.S. (2006), "Social accounting in Islamic political economy", Humanomics, Vol. 22 No. 1, pp. 34-46. https://doi.org/10.1108/08288660610647783