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Rethinking the structure of Islamic economics: the economic man imperative

Mohd Yusop, Mohd Mahyudi (2016) Rethinking the structure of Islamic economics: the economic man imperative. In: 11th International Conference on Islamic Economics and Finance (ICIEF), 11th-13th October 2016, Kuala Lumpur. (Unpublished)

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Abstract

The end of value-free economics presents a positive outlook for Islamic economics. Nonetheless, progress is only viable when this discipline has a solid scientific structure. Thus, this paper aims to highlight the economic man imperative in projecting Islamic economics as a normal science. This paper first explores Islamic economics’ current state of readiness to fulfill its promising future. Unfortunately, the authoritative view is that Islamic economics is not in proper order. Consequently, Arif’s (1985a and 1985b) Islamic economics scientific structure is utilized to locate that stage which requires serious improvement. At the basis of micro-foundation stage, the economic man imperative emerges out of this identification exercise. Thus, the most important implication here is the replacement of homo Islamicus with the concept of ‘universal man’ which proffers several advantages. Apart from the other stages in the structure, this ‘universal man’ needs immediate refinement to strengthen the edifice of Islamic economics science.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 5952/57857
Uncontrolled Keywords: philosophy of Islamic economics, homo Islamicus, Islamic social science, Islamization of knowledge, value-free economics.
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam
B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics
H Social Sciences > HB Economic Theory > HB71 Economics as a science
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr. Mohd Mahyudi Mohd Yusop
Date Deposited: 03 Aug 2017 15:02
Last Modified: 03 Aug 2017 15:02
URI: http://irep.iium.edu.my/id/eprint/57857

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