Scientifically, rationally and logically correct measurement and accounting not possible unless unit of measurement/accounting is clearly defined (constant) quantity of what is measured and therefore if law mandates just measurement and accounting it is implied that it mandates that unit of measurement/accounting of wealth must be clearly defined (constant/most stable) quantity of wealth. Further corruption of measurement and accounting not only a serious threat to economic justice but to our civilization.
I don't think that economic justice makes it mandatory that a unit of measurement/account be defined and that wealth be the constant/most stable quantity. I do not know about Islamic Sharia's take on determining the unit of measurement. However, establishing a consistent and stable unit of measurement is vital for maintaining fairness, as it helps prevent exploitation and ensures that individuals receive what they are entitled to in transactions and wealth distribution. Therefore, it is beneficial to advocate for a stable unit of measurement.
Measurement is comparison with unit and correct measurement is not possible unless unit is definite quantity of what is measured. Definite quantity of goods constitute defined quantity of wealth and if the quantity is not defined it is variable and indefinite quantity of wealth. It is clear that while definite quantity may perform as measure of value indefinite quantity cannot perform this function. Further to perform this function efficiently measure must have most stable purchasing power. It follows that measure of value must be definite quantity of most stable commodities or definite quantity of defined basket of goods with most stable purchasing power. One may hold that purchasing power should be constant but that leads to practical difficulties. This because price of everything varies with changes in supply and demand. Considering great importance of wealth in our lives, reliable measurement of wealth is essential and therefore unit of measurement and accounting for wealth must be definite quantity of most stable commodity or basket of commodities.
Unless the unit of measurement and accounting satisfies above condition market will not be able to determine just and efficient prices and measurement as well as accounting of wealth will be corrupted. Clearly justice will not be possible. May refer to my papers, ‘Money, Market and Systemic Causes of Poverty and Deprivation’ published in JOCRISE Vol.3.2 Jan 25 and ‘Freedom, Justice and Peace Possible Only with Correct wealth measurement with a Unit of Wealth as Currency’ published in HIJSE 26:1, 2010.
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