|An Introduction to Islamic Economics|
The present book aims at showing the contours of an Islamic economy. Its main theme is that the neo-classical economics which has fashioned the present-day world has outlived its utility. Its approach is narrow, its assumptions are unrealistic, and its strategies inhuman. It has landed humanity into an abyss of problems. If human thinking does not transcend the basic framework of neoclassical economics, the future of man on this globe is pretty bleak. In this background, the Islamic economic precepts provide a ray of hope. The present book invites the reader to cast an objective look at the principles of Islamic economics and perceive their potential. The book addresses both the common reader and the professional economist trained in the West. It is not, however, a detailed exposition of the subject. Instead, it attempts to give a bare introduction to the subject of Islamic economics.
Chapter one gives a broad overview of the subject. It is intended for those who cannot spare the time to go through the entire book. It is a quick run-through of the main themes of the subject.
Chapters two and three are more in the nature of an academic excursion into formalizing the basic precepts of Islamic economics. They define the subject and spell out its scope and methodology. They are meant for professional economists and students of Islamic economics at the university level.
Chapter four gives a brief resume of the practice of Islamic economics in the present day world. It shows the eagerness of the Muslim countries to put into practice, albeit inadequately, the basic principles of Islamic economics.
The last two chapters argue that Islamic economics is the economics of the future and that neo-classical economics can benefit from its principles and methodology.
Two appendices follow the main text. The first discusses the liability of the shareholders in a joint stock company. The second deals with discounting for project evaluation. We believe that as compared to capitalism, Islam has a distinctive position on these issues.
One Islamic Economics : An Overview
Two The Nature of Islamic Economics
Three The Methodology of Islamic Economics
Four Islamic Economics in Practice
Five Hope for the Future
Six Direction of Future Research
Intellectual Discourse with Emeritus Prof. Dr. Abdul Hamid Abu Sulayman
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