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Corona virus and the quest for moral economy: Islamic response

This article argues that the coronavirus pandemic has shown the world community that the current global economic system is unsustainable. The devastating impact of social, economic and health due to the corona virus are manifesting along with societies’ great inequalities due to the flaws of capital...

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Main Author: Abdullah, Fatimah
Format: Article
Language:English
Published: Akademi Zakat (AZKA) 2021
Subjects:
BPH72 Economic development. Growth. Sustainable development. Sustainability
Online Access:http://irep.iium.edu.my/92418/1/92418_Corona%20virus%20and%20the%20quest%20for%20moral%20economy.pdf
http://irep.iium.edu.my/92418/
https://ojs.zakat.com.my/index.php/azjaf/article/view/60
https://doi.org/10.51377/azjaf.vol2no2.60
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spelling my.iium.irep.924182021-09-22T07:20:04Z http://irep.iium.edu.my/92418/ Corona virus and the quest for moral economy: Islamic response Abdullah, Fatimah BPH72 Economic development. Growth. Sustainable development. Sustainability This article argues that the coronavirus pandemic has shown the world community that the current global economic system is unsustainable. The devastating impact of social, economic and health due to the corona virus are manifesting along with societies’ great inequalities due to the flaws of capitalism. The pandemic has also shed light on the fact that human societies cannot flourish without combatting inequalities. Thus, the seemingly more apparent internal tensions, inconsistencies and moral inadequacies in capitalism seem to necessitate a more ‘moral’ economy. Pertinent to this, Moral capitalism based on universal values can be an alternative system. Both moral capitalism and Islamic economics share similar moral ethical values that could possibly contribute to a more just economic system and therefore a better wellbeing for the global community. This article concludes that there is a dire need to have moral economy for global community. Neo-liberalism needs to be reconstructed for its structural inequalities that renders to societies unsustainability. For, failure to protect the health and safety of people living in abject poverty around the world, we put the entire world at risk. Akademi Zakat (AZKA) 2021-09-15 Article PeerReviewed application/pdf en http://irep.iium.edu.my/92418/1/92418_Corona%20virus%20and%20the%20quest%20for%20moral%20economy.pdf Abdullah, Fatimah (2021) Corona virus and the quest for moral economy: Islamic response. AZKA International Journal of Zakat & Social Finance, 2 (2). pp. 53-71. ISSN 2735-1890 E-ISSN 2716-6643 https://ojs.zakat.com.my/index.php/azjaf/article/view/60 https://doi.org/10.51377/azjaf.vol2no2.60
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic BPH72 Economic development. Growth. Sustainable development. Sustainability
spellingShingle BPH72 Economic development. Growth. Sustainable development. Sustainability
Abdullah, Fatimah
Corona virus and the quest for moral economy: Islamic response
description This article argues that the coronavirus pandemic has shown the world community that the current global economic system is unsustainable. The devastating impact of social, economic and health due to the corona virus are manifesting along with societies’ great inequalities due to the flaws of capitalism. The pandemic has also shed light on the fact that human societies cannot flourish without combatting inequalities. Thus, the seemingly more apparent internal tensions, inconsistencies and moral inadequacies in capitalism seem to necessitate a more ‘moral’ economy. Pertinent to this, Moral capitalism based on universal values can be an alternative system. Both moral capitalism and Islamic economics share similar moral ethical values that could possibly contribute to a more just economic system and therefore a better wellbeing for the global community. This article concludes that there is a dire need to have moral economy for global community. Neo-liberalism needs to be reconstructed for its structural inequalities that renders to societies unsustainability. For, failure to protect the health and safety of people living in abject poverty around the world, we put the entire world at risk.
format Article
author Abdullah, Fatimah
author_facet Abdullah, Fatimah
author_sort Abdullah, Fatimah
title Corona virus and the quest for moral economy: Islamic response
title_short Corona virus and the quest for moral economy: Islamic response
title_full Corona virus and the quest for moral economy: Islamic response
title_fullStr Corona virus and the quest for moral economy: Islamic response
title_full_unstemmed Corona virus and the quest for moral economy: Islamic response
title_sort corona virus and the quest for moral economy: islamic response
publisher Akademi Zakat (AZKA)
publishDate 2021
url http://irep.iium.edu.my/92418/1/92418_Corona%20virus%20and%20the%20quest%20for%20moral%20economy.pdf
http://irep.iium.edu.my/92418/
https://ojs.zakat.com.my/index.php/azjaf/article/view/60
https://doi.org/10.51377/azjaf.vol2no2.60
_version_ 1712284866315288576
score 13.211869

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