Self-Interest, Homo Islamicus and Some Behavioral Assumptions in Islamic Economics and Finance
Mohammad Omar Farooq
affiliation not provided to SSRN
International Journal of Excellence in Islamic Banking and Finance, Vol. 1, No. 1, pp. 52-79, January 2011
The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is significantly different from Homo economicus. This paper focuses on the relevance of self-interest in the context of both Homo economicus and Homo Islamicus.
Number of Pages in PDF File: 14
Keywords: Economic man, Self-interest, Economic systems, Moral norms, Normative theory, Religion
JEL Classification: D64, K0, Z12Accepted Paper Series
Date posted: January 16, 2011 ; Last revised: January 2, 2012
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