Conceptualizing Poverty in Capitalism and Islam

This study investigates poverty in Capitalism and Islam in terms of both; as an economic ism and as a living ideology. Capitalism as a living ideology, based on its’ philosophical foundations, eventually yields class conflict, deprivation, discrimination and accumulation of wealth in the hands of a few capitalists. Capitalism as an economic ism has become unpopular in the world not only because of socioeconomic injustices but also due to environmental degradation and losses in biodiversity. Theoretical analysis reveals that the built in mechanism (Demand-Supply) of capitalism is incapable to resolve the issue of poverty effectively. Poverty in Islamic context is a pure economic concept which does not affect the social class system and social values of humans. Furthermore, the measurement concept of poverty in Islam is different from the Capitalism. Poverty has been measured based on the minimum prescribed amount (Nisab) postulated by Islam. Various categories of the poor have been identified while benchmarking the minimum prescribed amount. Keeping into consideration the philosophical foundation of the Capitalism and Islamic Economic System (IES) the study reveals that IES has more potential to resolve the issue of poverty on more fair and equitable basis than the Capitalism.

Principals Transformational and Transactional Leadership Styles and Job Satisfaction of College Teachers

Leadership style is the general way a leader behaves towards his subordinates for attaining objectives. Leadership styles play very important role in the success of an organization. There are two major dimensions of leadership i.e. transformational leadership and transactional leadership. Objectives of the study were (1) to find out the relationship between leadership styles of principals and job satisfaction of public college teachers, (2) to determine relationship between transformational leadership style of principals and job satisfaction of public college teachers, (3) to find out the relationship between transactional leadership style of principals and job satisfaction of public college teachers,(4) to compare the leadership styles of male and female public college principals, (5) to compare the job satisfaction of male and female public college teachers. As the nature of the research was correlational, survey method was used for investigating about the Principals’ Transformational and Transactional leadership styles and job satisfaction of the college teachers. The population for this study comprised all teachers of public degree colleges of Punjab. By using multistage random sampling technique 10% out of 439 colleges were taken as sample. There were 2150 teachers (male 950 & female 1200) in 43 colleges. Over all 10 % (male 95 & female 120) teachers were selected as sample. To collect data from teachers two questionnaires (MSQ & LSQ) were used. Percentage, Pearson r, t test and Mean were used to analyze the data. The findings of the study show that there is a significant relationship between leadership styles (transformational and transactional) and job satisfaction. However, there is significant relationship between transformational leadership style and job satisfaction rather than transactional leadership and job satisfaction. There is no significant difference between male and female principals’ leadership styles, whereas job satisfaction, male teachers are less satisfied than female teachers. It is recommended that model of transformational leadership style may be considered by Principals in college sector.