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The paper explores Islamic morality within labor market realities. It presents Islamic moral axioms that are expected to guide employer–employee relationships. It provides an extensive review of Islamic moral ideals related to fairness in the labor market. Based on survey data from 319 individuals in the Saudi labor market, it tests three hypotheses related to religiosity, secular aspirations, and perception and practice of fairness in the labor market. Using multinomial logistic regression, the findings from several models clearly support all three hypotheses. They show that employers, owners and senior managers were more likely to consider market reality as their reference for describing fairness. Ideally speaking, the regression results confirm that being religious contributes positively to the sense of fairness even in a secular context. However, they also reveal that secular aspirations override religious ideals when it comes to market realities. In other words, when people place great importance on worldly outcomes, religious ideals have almost no impact on their labor market practices even if they ideally support fair practices. The study concludes that religious morality does matter with regard to fairness in employer–employee relationships only if it is not superseded by secular aspirations. Those who have a high-level of religiosity consider themselves to be fairer. However, if they embrace secular aspirations, they are less likely to practice their moral ideals in the labor market. [ABSTRACT FROM AUTHOR]

Today, approximately one-fourth of the world's population includes 1,620 million persons who are part of the expanding Islamic Ummah. Muslims are found in large numbers in all regions of the world but are concentrated in Africa, Asia, the Middle East and selected successor states to the former Soviet Union. Despite the obvious wealth of some Islamic nations most Muslims live under conditions of poverty, joblessness, illiteracy, ill health, social and political unrest and, in some regions, religious extremism. Using the extensively pre-tested Weighted Index of Social Progress, this paper reports a 40-year time series analysis of the nature, extent, and pace of social change that is taking place within 53 of the 57 member states of the Organization of Islamic Cooperation (OIC). Data are reported at four levels of analysis. Selected data also are reported for both the OIC-as-a-whole and for the world-as-a-whole. The present analysis offers a sometimes bleak, but generally optimistic, picture of the dramatic differences that characterize development patterns within Islamic countries, subregions, and regions. Particular attention is given to: (a) the legacy of colonialism that persisted for some OIC states until as recently as 1991; (b) the recurrent social unrest that continues to characterize development in many Islamic states, e.g., the 'Arab Spring' (Vision of Humanity ); (c) the presence or absence of marketable natural and human resources; and, (d) the significant contributions being made to the development of Islamic countries by the United Nations' Millennium Development Campaign (United Nations 2005) and the OIC's Ten- Year Programme of Action (OIC ). However, the important social gains reported in this paper for some countries and geographic regions remain highly variable, potentially reversible, unless the collective wishes of Islamic nations are translated into concerted actions both within OIC member states and the larger world community of nations. [ABSTRACT FROM AUTHOR]

Maloney, Civan and Maloney (Public Choice, , this volume) extend the existing literature on the economics of religion in several important ways. First, they define the religious good. They then distinguish a sectarian break from a schism, provide some analysis of schisms in the Christian world, and finally, and most interestingly, provide a summary of the religious practices and schisms in Islam. The two main strengths of the paper, and the most promising paths for future research, lie in the definition of the religious good and in the exploration of Islamic practices. Maloney, Civan and Maloney offer a novel perspective from which light might be reflected back upon Christian schisms. [ABSTRACT FROM AUTHOR]

International marketing practices, embedded in a strong ethical doctrine, can play a vital role in raising the standards of business conduct worldwide, while in no way compromising the quality of services or products offered to customers, or surrendering the profit margins of businesses. Adherence to such ethical practices can help to elevate the standards of behavior and thus of living, of traders and consumers alike. Against this background, this paper endeavors to identify the salient features of the Islamic framework of International Marketing Ethics. In particular, it highlights the capabilities and strengths of this framework in creating and sustaining a strong ethical international marketing culture. At the heart of Islamic marketing is the principle of value-maximization based on equity and justice (constituting just dealing and fair play) for the wider welfare of the society. Selected key international marketing issues are examined from an Islamic perspective which, it is argued, if adhered to, can help to create a valueloaded global ethical marketing framework for MNCs in general, and establish harmony and meaningful cooperation between international marketers and Muslim target markets in particular. [ABSTRACT FROM AUTHOR]

Using a time-lagged design, we tested the main effects of Islamic Work Ethic (IWE) and perceived organizational justice on turnover intentions, job satisfaction, and job involvement. We also investigated the moderating influence of IWE in justice-outcomes relationship. Analyses using data collected from 182 employees revealed that IWE was positively related to satisfaction and involvement and negatively related to turnover intentions. Distributive fairness was negatively related to turnover intentions, whereas procedural justice was positively related to satisfaction. In addition, procedural justice was positively related to involvement and satisfaction for individuals high on IWE however it was negatively related to both outcomes for individuals low on IWE. For low IWE, procedural justice was positively related to turnover intentions, however it was negatively related to turnover intentions for high IWE. In contrast, distributive justice was negatively related to turnover intentions for low IWE and it was positively related to turnover intentions for high IWE. [ABSTRACT FROM AUTHOR]

Transaction costs in trade gravity equation are proxied by the distance that separates two trading partners, under the assumption that the distance elasticity is the same across all trading partners. We show that distance elasticity, however, critically depends on whether trading partners are industrial countries (i.e., members of the OECD) or share same religion. These heterogeneities are both statistically and economically significant. For instance, expected trade flows are the largest when an OECD member trades with a non-member and both are non-religious. Expected trade flows fall as much as by 62.9% between two non-religious, non-OECD members. Expected bilateral trade drops by 48.1% when both countries in the pair are OECD members while one is Christian and the other is Islamic. Both religion and OECD membership significantly affect the typical transaction costs implied by the gravity equation. [ABSTRACT FROM AUTHOR]

Studies the economic system in Saudi Arabia as of 1977. Islamic economic doctrines which affect government policy; Dominant role of the government in the economy; Economic power derived by the government from oil revenues and their uses; Objectives, policies and investment criteria in economic planning; Fiscal and monetary instruments of development policy; Attitude of businessmen towards the mercantile system.