Islamic Economics: A Survey of the Literature

@article{Zaman2008IslamicEA,
  title={Islamic Economics: A Survey of the Literature},
  author={Asad Uz Zaman},
  journal={Behavioral \& Experimental Finance eJournal},
  year={2008}
}
  • A. Zaman
  • Published 1 June 2008
  • Economics
  • Behavioral & Experimental Finance eJournal
A central thesis of this paper is that social science is the study of human experience, and hence strongly conditioned by history. Modern Western political, economic and social structures have emerged as a consequence of the repudiation of religion, and are based on secular principles. Many of these are inimical to Islamic principles, and cannot be adapted to an Islamic society. Muslim societies achieved freedom from colonial rule in the first half of the twentieth century and sought to… 

A Critical Overview of Islamic Economics from a Welfare-State Perspective

This paper builds upon the following critique of Islamic economics: (a) Persistence on the literal interpretation of what the theology of Islamic law implies socioeconomically, (b) Rejection

A Welfare State Approach to Islamic Polity

This paper builds upon the following critique of Islamic economics: (a) Persistence on the literal interpretation of what the theology of Islamic law implies socioeconomically, (b) Rejection

Divergence between Aspirations and Realities of Islamic Economics: A Political Economy Approach to Bridging the Divide

Early writings in Islamic economics depicted a grand and, some would say, utopian image of the type of societal development that would result from implementing Islamic social and economic theory.

Rebuilding Islamic Economics on New Foundations

  • A. Zaman
  • Economics
    Turkish Journal of Islamic Economics
  • 2022
Massive amounts of confusion exists regarding the definition of Islamic Economics. This has blocked progress in terms of the development of the discipline, since there is no agreement on what its

CONCEPTUALIZING A STRATEGIC FRAMEWORK OF SOCIAL RESPONSIBILITY IN ISLAMIC ECONOMICS

In developing Islamic economics as a discipline, its proponents have emphasized on religious and ethical postulations of its economic agents as the essential micro-foundation towards the realization

Modern Economics and the Islamic Alternative: Disciplinary Evolution and Current Crisis

Mainstream economics has come under scathing criticism from various circles of thought. Within the territory of the discipline, there is a contestation. While one faction (supporters) considers

Launching a Revolution based on Islamic Foundations

  • A. Zaman
  • Economics
    journal of king Abdulaziz University Islamic Economics
  • 2019
Conventional economics is deeply and fundamentally flawed, beyond the possibility of reform and repair. Its failings in the real world became obvious to all following the global financial crisis. The

Towards an authentic Islamic development model: Incorporating the roles of trust and leadership in the Islam – Iman – Ihsan paradigm

Over half a century after Islamic economics, as constructed in the post-colonial search for a modern Muslim identity, claimed that a morality-based economic system, built on the axiomatic foundations

Re-Defining Islamic Economics

There is a huge number of definitions of Islamic Economics available in the literature. The vast majority take existing definitions from the western literature and modify them to incorporate an

An Islamic economy based on rizq : a grounded study on Islamic economics and finance through an everyday understanding of Muslim civil society representatives in Germany

Theory development in Islamic economics has largely been based on the foundational texts of Islam, the Qur’an and Sunnah. As the main articulation of Islamic economics, the Islamic finance industry
...

References

SHOWING 1-10 OF 326 REFERENCES

Notions of Private Property in Islamic Economics in Contemporary Iran: A Review of Literature

According to the late Maxime Rodinson, there exists a basic affinity between the economic scheme of Islam and the capitalist system. Although most Muslims, including pro‐capitalist ones, like to

Why the Middle East is Economically Underdeveloped: Historical Mechanisms of Institutional Stagnation

Although a millennium ago the Middle East was not an economic laggard, by the 18th century it exhibited clear signs of economic backwardness. The reason for this transformation is that certain

Islam and Economic Development

Islam and Economic Development is another intellectual contribution by M. Umer Chapra, a well-known Muslim social scientist and author of Toward a Just Monetary System and Islam and the Economic

Religion and the rise of capitalism

Abstract Ever since the publication in 1905 of Max Weber's study Die Protestantische Ethik und der Geist des Kapitalismus, there has been lively controversy concerning the connection between

Religion and the Rise of Capitalism

In one of the truly great classics of twentieth-century political economy, R. H. Tawney addresses the question of how religion has affected social and economic practices. He does this by a relentless

Principles of Islamic economics

The objective of economic analysis has changed significantly since the nineteenth century. One can associate three major foci of development in it.1 In the first half of the nineteenth century

Bernard Lewis: Scholarship or Sophistry?

This paper reviews Bernard Lewis' book, What Went Wrong? It critiques his essentialist thesis about the backwardness of the Islamic world, viz., that the Islamic world fell behind the West because

A Basic Guide to Contemporary Islamic Banking and Finance

I was asked by ISNA to produce a short guide to Islamic Banking and Finance for the Muslims of North America. To keep this guide short, we had to define our target audience rather carefully. This

The Long Divergence: How Islamic Law Held Back the Middle East

In the year 1000, the economy of the Middle East was at least as advanced as that of Europe. But by 1800, the region had fallen dramatically behind--in living standards, technology, and economic

Thirty years of research in the history of Islamic economic thought:Assessment and future directions

The present paper examines and evaluates research experiences in the area of the history of Islamic economic thought during the last 30 years with the objective to see the pace of research and its
...