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The ends of Islamic economics from the perspective of homo economicus and homo Islamicus: a critical study

Azizy, Satria Hibatal and Mohd Yusop, Mohd Mahyudi (2019) The ends of Islamic economics from the perspective of homo economicus and homo Islamicus: a critical study. Jurnal Hukum dan Ekonomi Syariah, 7 (1). pp. 1-19. ISSN 2355-4215 E-ISSN 2528-0872

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Abstract

This paper compares the ends of economic from homo economicusand homo Islamicusperspective. It is a literature study that is combined with the argumentative approach in order to provide the valid comparison of these two. The end or the goal of economics is one of important component of micro foundations of economics. It will become one deciding factor in chosing the most suitable economic agent for Islamic economics. The result of this study shows that the end of economics from homo economicus perspective, which is maximization of utility, is facing a huge criticism. The same case is shown in the end of economics from homo Islamicus perspective, which is maximization of maslahah. This paper later suggests the use of incremental welfare value as the end of economics

Item Type: Article (Letter)
Additional Information: 5952/75792
Uncontrolled Keywords: Islamic economic, Homo economicus And Homo Islamicus
Subjects: B Philosophy. Psychology. Religion > B Philosophy (General)
H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr. Mohd Mahyudi Mohd Yusop
Date Deposited: 29 Nov 2019 09:51
Last Modified: 29 Nov 2019 09:51
URI: http://irep.iium.edu.my/id/eprint/75792

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