Tradition and modernity in Islam: A reading through power, property and philanthropy

This study analyses some basic Islamic political, economic, and social traditions under three headings - power, property and philanthropy - to show that the Islamic tradition has embedded principles and concepts thought to be "modern" by many in the present world. It claims that the social responsibility principle of Islamic tradition that promotes devolution and good governance seems to be modern, and thus has survived for the last 1400 years. Thus, in fulfilling individual responsibility (as goods and service regulators, creators, and consumers), Muslims need to serve the interests of the nation, irrespective of business entities (or employees), and the community by following the traditions in Islam. In order to do that, Muslims need to comprehend and adhere to the comprehensive principles of Islam including its guidance for political, property, and social relationships, to become "modern."