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Evolution of Islamic Economics:Definition, nature, methodology, problems and challenges

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  • Hasan, Zubair

Abstract

Since the ill-conceived separation of finance from Islamic economics proper in the literature, the latter has landed in confusion and neglect. Of late, much concern is being voiced on this state of affairs; 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 hurried look at the evolutionary process of the subject and examines the definition, nature and scope, the issue of methodology, system approach, the problems that seems to beset its growth, the challenges it faces and how can same of these be faced.

Suggested Citation

  • Hasan, Zubair, 2016. "Evolution of Islamic Economics:Definition, nature, methodology, problems and challenges," MPRA Paper 71858, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:71858
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    References listed on IDEAS

    as
    1. Aydin, Necati, 2013. "Redefining Islamic Economics as a New Economic Paradigm," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 21, pages 1-34.
    2. Hasan, Zubair, 2011. "Scarcity, self-interest and maximization from Islamic angle," MPRA Paper 31631, University Library of Munich, Germany, revised 17 Jun 2011.
    3. Hasan, Zubair, 2005. "Evaluation of Islamic banking performance: On the current use of econometric models," MPRA Paper 6461, University Library of Munich, Germany.
    4. Zubair Hasan, 1998. "Islamization Of Knowledge In Economics: Issues And Agenda," IIUM Journal of Economics and Management, IIUM Journal of Economis and Management, vol. 6(2), pages 1-40.
    5. Hasan, Zubair, 2005. "Islamic banking at the crossroads: theory versus practice," MPRA Paper 2821, University Library of Munich, Germany.
    6. Hasan, Zubair, 2015. "Economics with Islamic Orientation," OUP Catalogue, Oxford University Press, number 9789834714055.
    7. Khaled A. Hussein, 2008. "ISLAMIC ECONOMICS: Current State of Knowledge and Development of the Discipline الاقتصاد الإسلامي: الوضع المعرفي وتطوره," Papers and books based on the proceedings of the Conferences organized by the Islamic Economics Institute, KAAU. 27, King Abdulaziz University, Islamic Economics Institute..
    8. Addas, Waleed A.J., 2008. "Methodology of Economics: Secular Versus Islamic," MPRA Paper 8264, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Islamic economics; methodology; economic systems;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems

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