"Evaluation of public policy is the main task of applied welfare economics. It is obvious that the result of this process heavily depends on the underlying principles of evaluation. Usually two important social criteria namely economics efficiency and equity are employed. It is well known that realizing both objectives at the same time is often impossible and that there is a trade off between them. A decision criterion must consider both objectives that raise the issue of assigning them relative weights

"Sources: Based on Ebbar, U.Bonn, F.R.G. (1986), "Equity and Distribution in Cost Benefit Analysis," Journal of Economics, P.67

If the choice is between faster economic growth with larger inequalities in the distribution of income and slower growth of the economy but lesser inequalities in personal of incomes, which one would you prefer in an Islamic economics order. Give reasons for your answer. (20 marks)