Revisiting Islamic Economics The Organizing Principles of a New Paradigm

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English | 2023 | ISBN: 3031411331 | 568 Pages | PDF EPUB (True) | 3.4 MB
This book discusses the need for a paradigm shift from Islamic economics universe of discourse to Iqtisād, a socio-economic system that is entirely independent from other economic doctrines and systems of thought. It provides an overview of critiques of the science and dogma of mainstream, orthodox, neoclassical, or simply Economics, with its axioms of rationality, scarcity, and unlimited wants. There is also a critical analysis of Islamic economics, and its failures to set its own policy agenda and development objectives. Our contention in this book is that Iqtisād-the Qur'an's vision of how the economy is to be arranged-provides such a paradigm with a radically different philosophical foundation from that of Economics to the point that makes grafting one onto the other Impossible.

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