The Significance of Islamic Economics in Re-Integrating Morality into Economics

11 Pages Posted: 14 Feb 2013

See all articles by Mohammad Abdullah

Mohammad Abdullah

University of Gloucestershire, Markfield Institute of Higher Education (MIHE), Students

Date Written: February 14, 2012

Abstract

The current economic predicament may be termed actually, a glimpse of the repercussions that the value-free modern economic paradigm can bring about to the modern world. Notwithstanding, in the current crisis-prone scenario, the big question arises that what are the possible solutions to this predicament? Is there a need of complete paradigm shift or it requires a slight amendments of some grey areas of capitalistic economic approach? And what role the Islamic economics possibly may play in altering a similar situation? This paper attempts to critically examine and elaborate the significance of morality-based, normative-oriented Islamic economics as an alternative to the current value-free and neutral capitalistic economic theories and practices.

Keywords: Morality, Economics

Suggested Citation

Abdullah, Mohammad, The Significance of Islamic Economics in Re-Integrating Morality into Economics (February 14, 2012). Available at SSRN: https://ssrn.com/abstract=2217905 or http://dx.doi.org/10.2139/ssrn.2217905

Mohammad Abdullah (Contact Author)

University of Gloucestershire, Markfield Institute of Higher Education (MIHE), Students ( email )

Gloucestershire
United Kingdom

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