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Homo Islamicus and the Islamic economic system: implication on public policy

Mohd Yusop, Mohd Mahyudi (2015) Homo Islamicus and the Islamic economic system: implication on public policy. In: The First International Conference on Shariah Oriented Public Policy in Islamic Economic System (ICOSOPP 2015), 30th-31st March 2015, Banda Aceh, Indonesia. (Unpublished)

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Abstract

The identification of coherent decision-making behaviours depends upon the observed practices by society’s predominant economic agents. Interestingly, discourse on the Islamic economic system portrays the operations of homo Islamicus to manifest the perfect working of that ideal system. However, the approach taken is rather simplistic to the extent that the Islamic economic system is widely criticised as a mere utopian state for the present Muslim majority polities to create its semblance. This puts into question the viability of the Islamic economy idea while putting extra pressure for governments to cope with the high demands of contemporary identity politics. In view of the reported huge gap between theoretical construct and real activities, this paper challenges the presumption that homo Islamicus is dictating the way resources are allocated. Thus, this paper suggests a broad-based public policy to continuously transform the population of Muslim majority countries to be homo Islamicus.

Item Type: Conference or Workshop Item (Plenary Papers)
Additional Information: 5952/57858
Uncontrolled Keywords: homo economicus, homo Islamicus, economic system, public policy, Islamic countries
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
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences
Depositing User: Dr. Mohd Mahyudi Mohd Yusop
Date Deposited: 03 Aug 2017 14:46
Last Modified: 03 Aug 2017 14:46
URI: http://irep.iium.edu.my/id/eprint/57858

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