Malaikah
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Im not sure what you mean by "Islamic perspective" as economics doesnt take religion into account, merely structural elements and feasability, which an Islamic state as imagined would lack.
Erm... then I take it you are unaware that Islam has a whole area of study about this kind of stuff? Laws and rules governing business transactions, money, taking loans, stuff like that?
The only thing I can really think of that can effect economy significantly is the strict prohibition of interest/usury. (Not that I have any knowledge about economics, from a secular or Islamic perspective).
Why do you think an Islamic state would lack that?
Islam is a lot more than just a 'religion', it is a complete way of life. It is also a lot more complex than what you seem to be assuming.
You might like to have a look at this, question and answers about commerce issues related to Islam:
http://islamtoday.com/show_sub_section.cfm?main_cat_id=5&sub_cat_id=0
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