Towards A New Paradigm for Economics: by: Asad Zaman, Comment by: Masudul Alam Choudhury نحو نموذج جديد للاقتصاد: بقلم: أسد زمان ، تعليق: مسعود العالم شودري

Masudul Alam Choudhury ()
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Masudul Alam Choudhury: University College of Cape Breton, Syclney, Canada

Journal of King Abdulaziz University: Islamic Economics, 2007, vol. 20, issue 1, 57-58

Abstract: What is the Paradigm claimed by the author? The model of treating homelessness and hunger arises from a typical adoption of the utility function. The utilitarian approach a la neoclassical utility analysis and lexicographic method is the same. The author raises this exception but never frees his own analysis from it. Thus the author drifts in normal science and no breakthrough is realized that would truly break through the neoclassical background methodology and instead treat the problem of hunger, homelessness, poverty, empowerment and entitlement etc (as many variables can be sensibly included) into a relational model. The Qur'an mentions about the paired (participatory) worldview of knowledge that can solve the problem of scarcity. A hadith mentions that poverty can lead to disbelief (Ibn Hajar, n.d.), that is to the abandonment of all values and purposes of life. These are great principles upon which the worldview of Tawhid and human wellbeing can be essentially modeled and taught with conceptual and positive implications. None of these exist in the paper. --

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:20:y:2007:i:1:no:5:p:57-58

DOI: 10.4197/islec.20-1.5

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