Concepts of Land, Urbanisation, and Islamic Ethic
Land being a natural resource and in limited supply, its prices in urban areas has gone up many times in Muslim countries in the recent past. The main reason has been the lack of investment opportunities for newly gained riches through higher oil prices. But the free market, prices do not allocate land to the mostdesirable social uses, especially if we examine it from the Islamic viewpoint. For greater social equity, land prices need to be controlled by regulations and social policies. An extract of a larger unpublished paper. Based on empirical data pertaining to Muslim countries. For economists.