individualistic societies. The paper first outlines the welfare axioms of Islamic economics compared to those of capitalism. Second …. Finally, it demonstrates optimum income transfer for social welfare maximization. Findings – The paper shows that Islamic … economics relying on certain welfare axioms aim for an altruistic society. It then theoretically proves that social well …

We examine two types of altruism and their implications for voluntary giving. Philanthropists are altruists who wish to …