Sustainable Development in Muslim Economies: Peace at What Cost?

Sustainable Development in Muslim Economies: Peace at What Cost?

Aisha Ansari (Capella University, USA)
Copyright: © 2019 |Pages: 7
DOI: 10.4018/978-1-5225-4203-2.ch001

Abstract

This chapter addresses geopolitics and sustainability and their interrelations with peace and stable economic conditions. Historical events in energy and geopolitics often suggest economic and social patterns which aim for sustainable growth but result in impoverished living conditions. Through analyzing the downward spirals in supply and demand, behaviors, and lifestyles, economies have the potential to offer diverse strategies for management of change and development. Exploring cultural and economic development, striking a balanced and normative approach which acknowledges the existence of societal dogmas, and finding alignment in educational, political, economic, and spiritual values are keys to sustainability.
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Historical Events Shaping Energy Geopolitics And Sustainability

Some Islamic thinkers now consider global conditions to have been deteriorating since World War II and to be steadily progressing toward the destruction of humanity. Examining a concept of social welfare, Ibn Khaldun, and sustainability, a claim of natural resources depletion and a lack of sustainable measures exist in Islamic societies (Muhammad, 2010). Ibn Khaldun’s theory of maintaining a balance between basic human needs and excessive consumption fits well with the Islamic principle of caring for the good of society. Emile Durkheim’s concepts, while not labeled Islamic, also suggest a need for moderation in consumption. Durkheim’s theory does, however, argue for a separation between labor and religion, or functionalism (Durkheim & Swain, 2015). From this perspective, social phenomenon in our societies are made up of individualism and self-sufficiency, and are united by the common thread found in our beliefs and social behaviors. Sustainability requires a combination of both self-sufficiency, such as nations, and unity, as in the philosophies of our societies.

Basic targets in sustainable energy revolve around pricing and supply, being described as security in resources (Bilgin, 2015). Dating back to before the 1967 Arab – Israeli conflict, energy security challenged decision makers and governing entities. With a particular focus on private sector participation in sustainable resources, there is scrutiny about the shape and process of geopolitical activities (Bilgin, 2015).

During the Arab-Israeli conflict of 1973, oil resources were commodities traded in global markets. A decision by OPEC to use the US dollar currency during the embargo sent economic shocks through the industrial world, affecting financial stability. Conditions prior to the oil embargo were described as “cheap energy”; with increased pricing and scarcity in supply, OPEC would leverage “Petro dollar recycling,” increasing foreign investments and ensuring oil exporting security (Licklider, 1988).

Key Terms in this Chapter

Usury: Goods and exchanges in trade are not equally matched in quality and quantity, but for the same price despite deceptive practices.

Riba: An agreement of mutual gain between two individuals, companies, etc. One party profits while the other receives little or nothing from the transaction, greed.

Functionalism: Religion as a doctrine enshrouded in adherence, being unified and sustainable.

Shura: Consultation as advised in Islamic sharia, and key in negotiations and collaborations.

Intifada: Arabic for “tremor,” a term used in 1987 for Palestinians revolt against Israeli West Bank occupation.

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