5. Islam
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UNITY (TAWHID)
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–
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JUSTICE (ADALAH)
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opposes inequality, exploitation, oppression
wealth should be properly acquired (via productive means)
an individual should work unless unable, in which case they should be supported
by the community
PURIFICATION (ZAKAH)
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With God (Allah), with each other and with all aspects of life
Preserves the idea of a common good in an economic system
the rich are trustees (not owners) of their wealth
economic necessity and spiritual salvation (re. ‘good works’)
TRUSTEESHIP (KHILAFAH)
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economic and spiritual goals are compatible
wealth accumulation is not the overwhelming goal
waste is to be avoided
resources should be used for everyone’s wellbeing
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6. Islamic Banking in Germany
http://www.youtube.com/watch?v=2G4NNaRkd2c
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What ethical issues is Islamic baking trying to address?
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What are the advantages of these practices?
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What are the disadvantages?
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7. Operating
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In small groups, think about complete honesty, no undercutting,
Family-based employment, no wage competition, no price
competition:
1. What are the ethical explanations as to why these practices are
endorsed in Islam
2. What are the advantages that these practices may bring to business?
3. What are the disadvantages they might cause?
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8. Nathan – get out your whiteboard
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What are the similarities and differences between Islamic, Christian
and Confusion ethics
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9. Debate
“The focus of this conversation is going to be: should
religious values play a role in corporate decision-making or in the
way individuals within corporations make their decisions? But it
also asks: is there a place, as a practical, empirical matter, for
religious values in corporate decision-making?” (p. 547).
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