Islamic Economics and Finance: The Moral Basis

Masudul Alam Choudhury
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Masudul Alam Choudhury: Sultan Qaboos University, Sultanate of Oman

Chapter 5 in The Universal Paradigm and the Islamic World-System:Economy, Society, Ethics and Science, 2007, pp 53-69 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:The Moral Law, Ethics and Human ExperienceAn example of the moral law and its cognitionA formalism in respect of the moral law and ethicsEthics and the moral lawThe example of financial interest (Riba) in the order of moral and ethical lawsInterest and UsuryA General Equilibrium Perspective of Interrelationships between Resource Expansion and Phasing Out of Interest RatesInterest and Usury in Social ModelsIntroducing Poverty in the Riba RelationDebt Financing Consequences of Interest on PovertyConclusion

Keywords: Islamic Theory of Knowledge; Philosophy of Science; Islamic Economics; Islamic Finance; Islamic Science and Society (search for similar items in EconPapers)
JEL-codes: F3 G21 (search for similar items in EconPapers)
Date: 2007
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