Nature and significance of Islamic economics

Zubair Hasan

MPRA Paper from University Library of Munich, Germany

Abstract: Islamic economics has of late landed in confusion and neglect and much concern is being voiced on this state of affairs. The divergence of views on various aspects of the subject tends to grow, cohesive efforts are missing. It is in this context that the present paper takes a look at the nature and significance of Islamic economics and examines the issues of its definition, nature and scope, the questions of methods and methodology, system approach, the problems that seems to hinder its growth, the challenges Islamic economics faces today and how the same can be faced. Since the differences between the Islamic and mainstream economic disciplines stem from the divergent worldviews that condition them, the discussion opens on the topic as background material. This paper is a part of draft Chapter of a book under preparation on Islamic economics and finance. Comments and suggestions are welcome but the paper or its parts cannot be put to any commercial or unfair use.

Keywords: Islamic economics; Worldview; Methodology; Economic systems; Problems challenges. JEL. B10; B30; G20; K40; K20. (search for similar items in EconPapers)
JEL-codes: B10 B30 G20 K20 K40 (search for similar items in EconPapers)
Date: 2016-06, Revised 2016-08
New Economics Papers: this item is included in nep-hme and nep-hpe
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Published in Nature and significance of Islamic economics 3.3(2016): pp. 400-418

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Related works:
Journal Article: Nature and Significance of Islamic Economics (2016)
Working Paper: Nature and significance of Islamic economics (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:74763

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