Economics at your fingertips  

The Origin of Scientific Theorization in Islamic Economics: An Institutional Perspective

Hassan Agha Nazari ()
Additional contact information
Hassan Agha Nazari: Professor of Economics, Research Institute of Hawzah and University

Quarterly Journal of Applied Theories of Economics, 2016, vol. 3, issue 2, 137-158

Abstract: This paper primarily seeks to prove the actual logical relationship between institutions, E'tebariat and Islamic Sharia rules and social sciences. Secondly, it attempts to demonstrate the impact of economic institutions consistent with Sharia law on the formation of economic realities commensurate with the same institutions. Accordingly, the economist can think through economic realities emanating from economic institutions which are in conformity with the Islamic Sharia law. On this basis, he/she can explain independent variables and function of these economic realities in terms of scientific theories. In this paper starting with concepts, the definition of institution by North and Searle has been investigated. North defines institutions as "humanly devised constraints that structure political, economic and social interactions". Searle introduces the concept of 'institutional fact', defined as a fact whose existence presupposes the existence of certain systems of constitutive rules called 'institutions'. Next, the nature of E'tebariat (agreed perceptions) broached by Allameh Tabatabai, its similarity with Searle's conception of the institution and the relationship between E'tebariat and the Islamic Sharia law have been examined analytically and then explored the impact of the adoption of Islamic Sharia law on the establishment of institution. These underlying discussions ground the basis of evolution in social sciences -which as an accepted approach- being influenced by fixed and variable rules of Islamic Sharia; this is due to the fact that an –actual- logical relationship emerges between institutions, E'tebariat and Islamic Sharia law and the subject matter of social sciences being recognized as social facts.

Keywords: Institution; Institutional arrangements; Etebariat (agreed perceptions); Islamic Sharia law; Variable; Fixed. (search for similar items in EconPapers)
JEL-codes: A12 B41 B59 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link) Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Quarterly Journal of Applied Theories of Economics is currently edited by Sakineh Sojoodi

More articles in Quarterly Journal of Applied Theories of Economics from Faculty of Economics, Management and Business, University of Tabriz Contact information at EDIRC.
Bibliographic data for series maintained by Sakineh Sojoodi ().

Page updated 2018-04-06
Handle: RePEc:ris:qjatoe:0046