Islam and the Economy of Pakistan

A Critical Analysis of Traditional Interpretation

The book critically examines the question of the ideology of Pakistan and the related claim concerning Islam as a system. The author attempts to discuss the issue in the context of the economy of Pakistan and argues in favour of renewed efforts towards the reconstruction of Islamic thought tomeet the challenge of modernity in the area of economic policy.

Thus, rent and interest become two sides of the same phenomenon. But there is
more to rent than its role as payment for the use of a durable good. It is described
as 'quasi-rent' in the theory of distribution when rent becomes a pure surplus
accruing to the owner of land (or any fixed asset) who has no contribution in its
creation. Economists usually refer to it as unearned income and it is applicable in
a variety of situations. A typical example would be where a business is made
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