نشریه معرفت اقتصاد اسلامی
سال دهم شماره 2 (پیاپی 20، بهار و تابستان 1398)

"Social policy-making" is defined as a set of actions taken to deal with social problems or to achieve social welfare and security. According to the constitution of the Islamic Republic of Iran, all policy-making, including social policy-making, must take place within the framework of Islamic standards. Using an analytical-descriptive approach, this paper seeks to outline the general framework of social policy-making and its application to welfare and social security field. Based on the research findings, realizing the goals of social security in Islam requires a coordinated role of the private, charitable and public sectors. In this regard, the government acts as the social policy-maker in each of these three sectors. Social security policies in Islam have a different approach to conventional social security approaches in defining social ends. The government acts in the area of social security do not merely refer to the residual market mechanism rather it starts with the market mechanism itself and ends with the institutions of social Takaful and government (specific duties).

"Social policy-making" is defined as a set of actions taken to deal with social problems or to achieve social welfare and security. According to the constitution of the Islamic Republic of Iran, all policy-making, including social policy-making, must take place within the framework of Islamic standards. Using an analytical-descriptive approach, this paper seeks to outline the general framework of social policy-making and its application to welfare and social security field. Based on the research findings, realizing the goals of social security in Islam requires a coordinated role of the private, charitable and public sectors. In this regard, the government acts as the social policy-maker in each of these three sectors. Social security policies in Islam have a different approach to conventional social security approaches in defining social ends. The government acts in the area of social security do not merely refer to the residual market mechanism rather it starts with the market mechanism itself and ends with the institutions of social Takaful and government (specific duties).

Bai al Inah (purchase on credit) means buying cash and sell on credit to the seller and vice versa to provide market liquidity. Using an analytical method, this paper analyzes the ruling of Bai al Inah and its potentiality for rectifying the subordinate transaction and tavaruq securities in the capital market. By examining the narrations on the Bai al Inah, we can conclude that, if the second transaction is conditioned from the beginning and all risks are taken to the buyer, such a transaction is not correct and it is a case of usury. Although these two conditions may rectify the transaction, it is not usually possible to fulfill these conditions in individual transactions; but in the case of banking and capital market transactions where all terms and conditions are specified from the beginning and cannot be violated, these conditions are almost impossible to achieve. The research findings show that if taking the property in the subordinate transaction is personal, such a deal applies Bai al Inah and is not allowed; but if done in a general format, it is correct and will enhance the real sector. Also, individual tavaruq, unlike banking tavaruq, is usually qualified. Of course, the realization of these two types of contracts is based on the creation of a proper structure of the Islamic capital market and the prevention of sick trading exchange.

One of the essentials for the realization of Islamic banking is founding the Central Bank based on Islamic values and principles. Using an analytical approach, and given the limited studies in the field of central banking in Islamic economics literature, this paper provides a favorable model of central banking in the Islamic banking system. According to the research hypothesis, the Central Bank in the Islamic economy has a different nature, structure, goals, tools and policies than the Central Bank in the conventional economy. Based on the research results, the proposed model of Islamic central banking presents a new structure of Islamic monetary and banking system. In this modern structure, banks do not have the power to create money (full reserves) and money creation is done only by the Islamic Central Bank. In this model, the institution of the bank returns to the true position of financial intermediation.

Governmental and Central Bank corporate bonds are among the most important tools for applying monetary and fiscal policies for finance, inflation control, setting monetary base, and the volume of strong money in accordance with the market liquidity needs of the economy. The issued papers in terms of quantity, quality, legal and administrative should be designed in such a way that, their publishing provides the conditions for managing the profits of the issued corporate bonds in favorable and prioritized projects, in addition to attracting small and wandering funds. Using a descriptive-analytical and desk-research approach, along with multi-criteria decision making patterns and hierarchical analysis, two questions are discussed in this paper; first, what are the criteria that affect the functioning of governmental and Central Bank corporate bonds? Second, how the importance of the selected criteria with respect to the policy functions of each corporate bond be prioritized? Through studying and reviewing the relevant literature and research, eight criteria have been extracted in this paper for comparing governmental and Central Bank corporate bonds. The results show that, based on the discussed criteria, Central Bank corporate bonds are better than government bonds.

The popularity of the concept of crypto-currency in today's economy has raised many juridical questions. Using an analytical-juridical method, this paper analyzes the activities performed in the process of mining and exchanging of these currencies, with a focus on Bitcoin network. Based on the research findings, juridically, the trading of crypto-currency is permissible if the general conditions of commercial transactions are met. The crypto-currency ownership can be justified on the grounds of an effort for decoding and possessing the receiving rewards from the network. Observing the conditions of the contractors, considerations, and the creation of possession through sale by conduct in these currencies is possible. Some objections rose against crypto-currency trading, including Bitcoin, money laundering, creating a currency bubble, devaluation of national currency, obtaining property through illegitimate and illegal means, and the possibility of being deceitful or harmful, cannot be the basis for the illegality of the trade of crypto-currency. However, using crypto-currency faces challenges such as consumption of government electricity, partnerships with miners the incapacitated individuals in mining pools. The religious ruler may limit or prohibit the extraction and sale of such goods by issuing a government order, with the adverse effects of currency development on the market and possible economic, moral and security corruption. Sharia ruler can restrict or prohibit mining crypto-currency trade in case of negative effects of crypto-currency in the market, or in case of economic, moral or security problems.

The correlation of ethics and economics in the neoclassical orthodox school has always been a problem. Using concepts of utility and preferences, the proponents of this school attempted to correlate morality and economics within the context of the welfare economy. Due to the essential ambiguity of the meaning of utility within the individualistic methodology of neoclassical economics, this correlation does not meet a desirable end; because by aggregating individual choices one cannot achieve a social choice in the welfare economics. Using an analytical approach, this paper studies the possibility of applying Allameh Tabatabai's conventions (i’tibariat) theory to establish a correlation between ethics and economics. According to the research findings, this theory can make a correlation between moral and economic values. In this context, utility is considered as a social convention. Given the interpersonal nature of conventions, desirability will be sufficiently objective to serve as the link between moral and economic values. Thus, Allameh Tabatabai's theory of conventions provides a reasonable link between ethics and economics. This approach can also be considered as the beginning of a methodological study in Islamic economics based on Allameh's theories.

The discussion of "social welfare function" and its explanatory variables is one of the important issues of welfare economics. Introducing utility as the explanatory variable is the dominant approach in defining "social welfare function". Such a definition relies on the utility-oriented axiological approach in conventional economics. This idea holds that, the ideal state of society is one in which the highest degree of utility or enjoyment is achieved for all community members. Using an analytical approach, this paper studies the possibility of introducing two-dimensional utility in the social welfare function based on the axiological approach. This view requires the extension of the concept and the scope of "utility" to the otherworldly pleasures, and equality of social welfare by maximizing total worldly and otherworldly pleasure of the community members. The findings show that, two-dimensional utility cannot be an efficient and comprehensive criterion for measuring and ranking the social welfare status of Islam, and cannot be introduced as the main variable of social welfare function in the Islamic approach. Using this variable in the function of Islamic social welfare faces some basic and computational problems. Using essential and lawful goods and services based on need, merit and justice are introduced in this paper, as an explanatory variable in the social welfare function from an Islamic approach.

Codifying Islamic state economic policies can be considered as the output of Islamic economics, policies that should lead to changes in structures and behaviors. Using an analytical approach, this paper studies the identity of policy theories in Islam economic. This paper examines the conceptual components, status, principles of legitimacy, and the mechanism for codifying policies in Islamic economics. According to the research findings, policy in Islamic economics is a cross-sectional response of the Islamic state to the current economic situation based on Islamic economic norms. In the Islamic approach, cultural policies dominate economic policy. The legitimacy of codifying the economic policy derives from the legitimacy of government, and the religious rules such as, mutual enjoining, enjoining good and forbidding wrong, advising the advice seekers, noticing the ignorant, guiding the ignorant, and the council. The economic policy is a type of variable decree that can be achieved in four primary, secondary, injunctive, or declaratory formats. Economic policy is fully synonymous with secondary religious topics and protects the current standards in the secondary topics.

Designing a tax system that complies with Islamic principles is one of the essentials of Islamic economics. In this regard, accommodating the Shari'a Payments in the tax system is very important. Using an analytical approach, this paper analyzes the possibility and the mechanism for replacing Khums of the business profit with aggregate income tax. The research findings indicate that, there is a relative similarity between Khums of the business profit with aggregate income tax and the possibility of their replacement. Based on the proposed pattern of this paper, the complete replacement of Khums of the business profit with aggregate income tax is not efficient, and hence a combination of Khums and taxes should be applied. In the proposed model, taxpayers have the choice between paying Khums or aggregate income tax. They will be exempt from aggregate income tax if they pay Khums of the business profit. The structure has suggestions for reforming the direct tax law and changing the executive structure of the tax administration.

Environmental economics studies have found a special status in current economic literature. In this paper, we analyze the capacities of conventional environmental economics in resolving environmental crises. Using an analytical approach, and considering the philosophical foundations of conventional environmental economics, this paper has conducted. The findings show that the theories of neoclassical environmental economics are based on three fundamental principles of materialistic quantity-oriented ontology, reductionist methodology, and utility-oriented axiology. Because of these three disputable foundations, these theories have often remained at the level of technical and engineering approaches, and as a result they cannot fully explain the environmental crises. Environmental policies based on these theories cannot resolve their roots fundamentally, due to the negligence towards the philosophical and moral roots of these crises. These findings may convey this message for studies in Islamic economics that, to solve environmental crises one must consider beyond materialistic, reductionist, and utility-oriented analyzes. Such an approach can restore the true dignity of nature and pave the way for a fundamental solution to environmental crises.

Today, large business centers, due to their specific economic, cultural and social functions, enumerate as an important phenomenon in the contemporary life structure. Department stores enumerate not only an economic foundation and social institution, but also display a cultural symbol and a reflection of the art, ideas and value foundations of societies, and because of their widespread functions, they also affect people’s lifestyles. This study firstly, by analyzing the concept of Islamic level store, whilst considering the fact that trading is the most central economic behavior in the department store, analyzes different aspects of Islamic store from different point such as price, legitimacy of trading process, appurtenance and physical space of trading, extracted the components and indicators of each dimension from the original Islamic texts. Secondly, by referring to the elites and experts of Islamic humanities, using the method of hierarchical analysis (AHP), prioritized 81 indicators for the Islamic level stores and finally, has identified the final weight of each one.