I was wondering if there are any contemporary books you could recommend on the topics of economics and business and also politics and governance as envisioned in Islam for society. I haven’t read them yet but I came across some titles from Ayatullah Murtadha Mutahhari and Muhammad Baqr Al-Sadr that may be relevant and interesting.

Could it be that Islam does not give explicit/clear guidelines or impose restrictions on the form/system of governance and economics (e.g. democracy/autocracy/theocracy, capitalism/socialism/a mix, voting rights, duration of terms, welfare, taxes etc etc), especially now where our Imam (as) is in occultation? I really haven’t read much on the topic. But my impression is that we don’t follow a clearly defined system or standard when looking at the Muslim countries today. We have mainly adopted what is prevalent today or have some form of autocratic governance. As potential models we maybe can only try to orientate ourselves on the lives of our Prophet (pbuh) and our Imams (as). But only Imam Ali (as) really had the chance to be head of a state after our Prophet (pbuh) as far as I know (as legitimate rulers). My question is, what is the ideal system in governance and economics while our Imam (as) is in occultation?

Yes I would recommend those two books because they have been translated into English.

Islam does not prescribe a specific type of economic system. Islam gives guidelines such as:

-No interest
-No hoarding of essential property
-No cheating and fraud
-The right to private property
-The right to natural resources

And so on. So there are elements of capitalism in Islamic economics and elements of socialism.

I recommend reading this brief book on some economic strategies of Imam Ali (a):