PRIVATIZATION AND THE ETHICS OF ISLAM

Current privatization efforts dwarf all which have gone before. In general, the “less developed” nations, including peoples of the Muslim faith, seem to have attracted the advocates of privatization. Disturbing results are obtained when the substance and process of privatization are juxtaposed to t...

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Autor principal:	Felix Pomeranz
Formato:	article
Lenguaje:	EN
Publicado:	International Institute of Islamic Thought 1997
Materias:	Islam BP1-253
Acceso en línea:	https://doaj.org/article/7a6ba58b2a2e4d77a7020487c6fa69d6
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spelling	oai:doaj.org-article:7a6ba58b2a2e4d77a7020487c6fa69d62021-12-02T19:41:18ZPRIVATIZATION AND THE ETHICS OF ISLAM10.35632/ajis.v14i2.22432690-37332690-3741https://doaj.org/article/7a6ba58b2a2e4d77a7020487c6fa69d61997-07-01T00:00:00Zhttps://www.ajis.org/index.php/ajiss/article/view/2243https://doaj.org/toc/2690-3733https://doaj.org/toc/2690-3741 Current privatization efforts dwarf all which have gone before. In general, the “less developed” nations, including peoples of the Muslim faith, seem to have attracted the advocates of privatization. Disturbing results are obtained when the substance and process of privatization are juxtaposed to the teaching of Islam. In certain cases, privatization may result in the transfer of wealth from relatively weak hands (i.e., from the debtor governments of the less developed nations) to relatively strong hands (i.e., consortia of intemational entrepreneurs). Islam teaches the opposite: It recognizes the right of the less able in the wealth of those who have greater ability or the opportunity to produce greater wealth (Mirakhor, 1989). The outcomes of privatization are important to peace and security. Consequently, the emergence of privatization as a cat’s paw in political discourse is not a good omen. For example, Abdelhak Benhamouda, Algeria’s labor leader, “opposes any privatizations undertaken on the ‘back‘ of the workers and demanded (sic) ‘guarantees’ from the govemment” (AFX News, 1995). The article defines privatization and discusses its structural and operational problems in light of religious imperatives ... Felix PomeranzInternational Institute of Islamic ThoughtarticleIslamBP1-253ENAmerican Journal of Islam and Society, Vol 14, Iss 2 (1997)
institution	DOAJ
collection	DOAJ
language	EN
topic	Islam BP1-253
spellingShingle	Islam BP1-253 Felix Pomeranz PRIVATIZATION AND THE ETHICS OF ISLAM
description	Current privatization efforts dwarf all which have gone before. In general, the “less developed” nations, including peoples of the Muslim faith, seem to have attracted the advocates of privatization. Disturbing results are obtained when the substance and process of privatization are juxtaposed to the teaching of Islam. In certain cases, privatization may result in the transfer of wealth from relatively weak hands (i.e., from the debtor governments of the less developed nations) to relatively strong hands (i.e., consortia of intemational entrepreneurs). Islam teaches the opposite: It recognizes the right of the less able in the wealth of those who have greater ability or the opportunity to produce greater wealth (Mirakhor, 1989). The outcomes of privatization are important to peace and security. Consequently, the emergence of privatization as a cat’s paw in political discourse is not a good omen. For example, Abdelhak Benhamouda, Algeria’s labor leader, “opposes any privatizations undertaken on the ‘back‘ of the workers and demanded (sic) ‘guarantees’ from the govemment” (AFX News, 1995). The article defines privatization and discusses its structural and operational problems in light of religious imperatives ...
format	article
author	Felix Pomeranz
author_facet	Felix Pomeranz
author_sort	Felix Pomeranz
title	PRIVATIZATION AND THE ETHICS OF ISLAM
title_short	PRIVATIZATION AND THE ETHICS OF ISLAM
title_full	PRIVATIZATION AND THE ETHICS OF ISLAM
title_fullStr	PRIVATIZATION AND THE ETHICS OF ISLAM
title_full_unstemmed	PRIVATIZATION AND THE ETHICS OF ISLAM
title_sort	privatization and the ethics of islam
publisher	International Institute of Islamic Thought
publishDate	1997
url	https://doaj.org/article/7a6ba58b2a2e4d77a7020487c6fa69d6
work_keys_str_mv	AT felixpomeranz privatizationandtheethicsofislam
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PRIVATIZATION AND THE ETHICS OF ISLAM

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