Abstract
Purpose - To reason whether the ethical-moral cum economic coalition among the different sets of economy is more efficient with objectives of Islamic Shariah.
Design/methodology/approach - This is a theoretical paper based on the modified model of layers of economic coalition which was initially developed by W. Leontief and P.N. Mathur and tries to evaluate the impact of ethical-moral cum economic coalition among different sets of an economy within the framework of Islamic political economy system.
Findings - This study suggests that endogenoising the ethical-moral cum economic coalitions will comparatively enhance the efficiency level of the economy, and will also increase the social welfare level.
Practical implications - A dynamic cum marginal input-output table can be constructed on the basis of this framework.
Originality/value - This research is beneficial to the researchers, policy makers and social scientists for the enhancement of the level of social welfare through this coalition.