This book investigates the fundamental contradictions between traditional Islamic economic theory and the practical requirements of a modern, functioning state within the context of Pakistan. Author Izzud-Din Pal, an economist with extensive academic experience, evaluates the 'Islamization of Economy' project by contrasting the rigid interpretations of the Ulama with the realities of contemporary global financial systems. He argues that the failure to reconcile these two spheres has hindered economic development and social progress in the region. The text provides a systematic critique of proposed Islamist solutions, measuring them against historical data and modern economic principles.

Scholars and economists recognize this work as a significant contribution to the study of political economy in South Asia. Readers frequently note the academic density of the prose and the author's rigorous, evidence-based approach to a highly complex and sensitive subject.