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Capitalism and Charity: Empirical Prove to Islamic Economics Critique on Capitalist Individualism

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Objectives: This research aims to provide empirical evidence to the mainstream
view in Islamic economics on the selfish and greedy nature of capitalism.
Methods: The panel data includes 28 developing countries of the lower-middle
and upper-middle income groups. To account for the greed factor, the data uses
the world giving index from the Charities Aid Foundation. Meanwhile, the index
of economic freedom is used as the proxy to measure the extent of capitalism of
a country. The other variables consist of democracy, education, inequality, and
per capita income.
Results/Findings: Results indicate an insignificant relationship between
economic systems and charity, which renders the discussion inconclusive.
Available indices of economic freedom accounts formal rules, not actual market
experience, which may be the cause of such a result. GNI per capita positively
and significantly impacts charity, while the other variables are not significant.
Policy and research recommendations are put forward

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Availability

Detail Information

Series Title

Ekonomi Syariah

Call Number

REF 330.112 KAN c

Publisher

Bogor : IAI Tazkia., 2023

Collation

-

Language

English

ISBN/ISSN

NIM.19103028

Classification

330.112

Content Type

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Media Type

-

Carrier Type

-

Edition

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Subject(s)

Islamic Economics
capitalism
Charity

Specific Detail Info

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Statement of Responsibility

Raihan Agra Dharana Kanz

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