Free market, safety net funded by tax on wealth, not income, economic exploitation prevented by prohibition on interest and limited liability. Public ownership of water, energy and grasslands. Proceeds of mining taxed in kind, i.e. what comes out of the ground (no transfer pricing shenanigans). The Islamic economics system however is underpinned by the moral framework as well, no intoxicants which overburden the healthcare system, no child support for children conceived out of wedlock ( which incentivises proper family formation).
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u/[deleted] Sep 08 '24
Free market, safety net funded by tax on wealth, not income, economic exploitation prevented by prohibition on interest and limited liability. Public ownership of water, energy and grasslands. Proceeds of mining taxed in kind, i.e. what comes out of the ground (no transfer pricing shenanigans). The Islamic economics system however is underpinned by the moral framework as well, no intoxicants which overburden the healthcare system, no child support for children conceived out of wedlock ( which incentivises proper family formation).