Coping with Corona Economic Crisis: The Islamic Economy and the Knowledge Economy

Abstract

This research aims at identifying the economy and its strength in the face of natural disasters, showing how the economy of the countries of the world was affected by the corona pandemic, addressing the policies that have been applied to fade and restore its effects, displaying the efforts of financial institutions to confront it, and proposing direct and indirect solutions through the Islamic economy and the knowledge economy. The research will also show that the Corona crisis is not a pure evil or even a real economic deadly one, but rather the procedures, the wrong application of rules and the fragility of structures are the causes of the different crises. And, the research proposes to use the vital empowerment of technology and new economies such as sharing and behavioral economies and also to address them in study, action and application.

Keywords: Pandemic, COVID-19; economic crises; Islamic economy; Islamic finance, sharing economy, stimulus packages.

DOI: 10.7176/EJBM/14-6-03

Publication date:March 31^st 2022