Analysing the Present State and Future Agenda
Studies in Islamic Finance, Accounting and Governance series
Chapter 3: What is Islamic economics?
The present chapter tries to understand the nature of Islamic economics as defined by Muslim economists. The movement to develop Islamic economics as a social science parallel to conventional economics raised several questions in the minds of Muslim economists. Some of these questions were as follows: _ What exactly is meant by Islamic economics? _ What are the scope and objective of Islamic economics? _ How does it differ from conventional economics? _ Do we need to discard conventional economics? _ Should we create a discipline parallel to conventional economics? _ Should we teach conventional economics and present ‘Islamic’ criticism or an ‘Islamic perspective’ on it? _ Should we teach conventional economics but add Islamic economic teachings to widen the horizon of Muslim students of economics? _ Who are the audience of Islamic economics? Are they Muslims only or non-Muslims as well? In the following discussion we shall take up these questions and see how Muslim economists have tackled them.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.