Review of Islamic Social Finance and Entrepreneurship
Volume 2 Issue 2, 2023

The sharing economy in a post-Covid-19 world: Insights from Islamic economic history

Jamila Abubakar (College of Islamic Studies, Hamad bin Khalifa University, Doha, Qatar)
Nasim Shah Shirazi (College of Islamic Studies, Hamad bin Khalifa University, Doha, Qatar)



Article Info

Publish Date
05 Sep 2023

Abstract

Purpose – The Covid-19 and climate change crises have increased attention to building a more circular global economy. This paper analyses the insufficiency of the linear economy growth model in a post-Covid-19 world and sheds light on the role of the sharing/collaborative economy in the post-Covid-19 socio-economic recovery.Methodology – An explanatory approach is employed to broaden the theoretical idea of the Sharing Economy (SE) as a contemporary concept by delving into the historical applications and motivations of sharing and collaborative practices in the Islamic economy and hunter-gather societies.Findings – Although contemporary sharing economy platforms are credited with the sharing economy concept, history shows that pre-modern societies have used sharing concepts to maximize efficiency in allocating resources, and collaborative consumption predates the digital economy. The paper also finds that adopting Islamic economy ideologies for social solidarity could address contemporary sharing economy models' challenges.Implications – The paper fills a gap in the literature by learning from historical sharing practices and adopting Islamic economy ideologies for social solidarity; the sharing economy could contribute significantly to building a circular global economy.Originality – By delving into the historical applications and motivations of sharing and collaborative practices in the Islamic economy and hunter-gatherer societies, this paper brings a unique perspective that is rarely studied.

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Journal Info

Abbrev

RISFE

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

AIMS AND SCOPE Aims Review of Islamic Social Finance and Entrepreneurship covers in detail a large number of topics related to Islamic Social Finance, comprising the latest empirical studies, country-specific studies, policy evaluations on Islamic sosial finance and entrepreneurship. This journal ...