Publication:
Issues in the Malaysian waqf system
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Abstract
After 250 years of unbridled pursuit of laissez faire, cross-border free trade via open economy theories and unbridled capitalism over the last four decades, a watershed appears to have been reached at the start of the 21-st century. Mercantilism of the 18-19-th centuries gave way to an open economy model of freer trade in goods and services. The last 40 years saw the dismantling of barriers to financial trade as well. These moves have led to unbridled private pursuit of wealth creation supposedly meant to lead to greater human welfare. Despite the creation of wealth, the dismantling of laws since the Reagan-Thatcher brand of capitalism took root, the wealth inequality has gone to the level existing some 180 years ago: see The Economist (October, 2012). Wealth inequality has started to widen since the 1980s to a level which is reversing a fair degree of prosperity of the middle-class as once shared in all countries that had worked to reduce inequality.
Keywords
Waqf , Welfare , Malaysia
Citation
Ramadili Mohd, S. M. & Ariff, M. (n.d). Issues in the Malaysian waqf system. CIWM Bulletin, Special Edition (2013-2015), pp. 12-13.
Publisher
CIWM