History of Islamic Economic Thought

History of Islamic Economic Thought

Contributions of Muslim Scholars to Economic Thought and Analysis

Abdul Azim Islahi

This unique book highlights the contributions made by Muslim scholars to economic thought throughout history, a topic that has received relatively little attention in mainstream economics. Abdul Azim Islahi discusses various ways in which Muslim ideas reached the European West, influencing scholars and helping to form the foundations of modern economic ideas and theories.

Chapter 7: Net addition and impact on economic thinking of medieval Europe

Abdul Azim Islahi

Subjects: economics and finance, history of economic thought, islamic economics and finance


We have seen in previous chapters that the Muslim scholars started their intellectual journey equipped with the revealed knowledge. As they had the divine touchstone, they were not hesitant in learning the existing human knowledge. In this perspective several scholars diverted their attention toward the Greek philosophy. However, they did not find answers to all questions of their time in the the Greek philosophy. The Muslim scholars found themselves in a better position to address problems of their time as they had support of the divine knowledge. We have discussed their views on several economic subjects in previous chapters that bespeaks of their mastery on the relevant subjects. It would be interesting to examine the additions made by the Muslim scholars for improving the Greek economic ideas. But this would require a thorough comparative study of the Greek economics and contribution of the Muslim scholars with reference to their respective original sources. However, the scope of the present work does not allow us to delve into this subject in full length. We shall only make a few remarks on the subject.

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