Document Details

Document Type : Article In Journal 
Document Title :
Modern Non-Competitive Markets between Fiqh and Economic Analysis
الأسواق غير التنافسية المعاصرة بين الفقه والتحليل الاقتصادي
 
Subject : Article 
Document Language : Arabic 
Abstract : This paper lays groundwork for dialogue between economists and Muslim jurists on monopoly and non-competitive markets. Shariah prohibited monopoly, leaving details to jurists who concluded that monopolistic practices contravene Shariah only when: (a) Applied to necessities (majority opinion), or even to supplements (minority opinion), and (b) Where both demand and supply are price inelastic. Monopolistic practices then lead to large price increases that hurt the public. Jurists also deem it a grave sin to grant legal monopoly (in a good or a service) to a private party, if unjustified by the public interest. Freedom of entry to any market is fundamental in an Islamic eTchoen ocmoyn.c ept of monopoly among economists focuses on market structure, and is significantly wider than “prohibited monopoly” among jurists who focused mainly on monopolistic behavior. Seven applied issues are discussed from dual fiqh-economic perspective: patents, public utilities, government monopoly, monopolistic competition, oligopoly, mergers and unjustified legal monopoly. 
ISSN : 1018-7383 
Journal Name : Islamic Economics Journal 
Volume : 19 
Issue Number : 2 
Publishing Year : 1427 AH
2006 AD 
Number Of Pages : 49 
Article Type : Article 
Added Date : Sunday, October 11, 2009 

Researchers

Researcher Name (Arabic)Researcher Name (English)Researcher TypeDr GradeEmail
محمد أنس الزرقاMuhammad Anas AI-ZarkaResearcher  

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