1,720,993 research outputs found
THE CONCEPT OF HUMAN DEVELOPMENT IN THE NOTION OF ECONOMIC MAN: SECULAR AND ISLAMIC PERSPECTIVE
No full textEconomics subject as study has shifted from the study of wealth (material resources) to the study of human behavior when Lionel Robbins published his monumental work in 1932. Economics as a discipline is interested to study the economic agent behavior in making decisions of allocation resources which are scarce relative to human wants which are unlimited. To some scholars, the subject matter of Islamic economics is similar, i.e., the behavior of economic agent. Both economics, definitely, have several doctrines and assumptions of the nature of economic agent behavior related to their economic life an also the notion of economic man development and progress. Mainstream economics conceives homo economicus as the economic agent who is rational, pursuing self- interest, maximizing his own utility, and consider values judgments as exogenous variables. Islamic economics, on the other hand, conceives homo Islamicus as the economic agent who is Islamically rational, pursuing multiple interests (self-interest together with God-interest, social-interest, and the environment-interest), and considers ethics as endogenous variables that would shape the behavior of Islamic man in economic analysis. The concept of human progress and development is outlined in accordance with this “characteristics†of economic man and his “goals†to be achieved. This paper will explore the conceptual differences of economic man in Islamic and conventional framework as well as the concept of human development in both traditions
The Discipline in the Making: Appraising the Progress of Islamic Economics
No full textIslamic economics is currently moving from a mere discourse on economics in Islamic perspective towards becoming a distinct science of Islamic economics. There is a systematic effort from Islamic economic scientific community to develop a discipline of Islamic economics marked by a complete body of knowledge, clear subject matter, methodology/methodologies to appraise theories and continuous growth and accumulation of knowledge. This could be done if the scientific community put strong effort in explicating all the necessary foundations of science and achieve consensus on certain important aspect of discipline. In this paper we attempt to historically survey the development of Islamic economics towards becoming a distinct discipline, evaluate the current practices a adopted by the Islamic economics’ scientific community in settling up problems, and outlining forward agenda in order to achieve this discipline status
KAjIAN METODOLOGI DAN SIGNIFIKANSINyA DALAM PENGEMBANGAN DISIPLIN ILMU EKONOMI ISLAM
No full textAbstrak.Methodology, the study of science philosophy is generally included in the study of epistemology discussing the nature, sources, concepts and theories of science. Therefore, it follows the development of epistemology study and philosophy of science, although both of them are different in terms of their focus and scope of assessment. Epistemology discusses the theory of science, nature and its limitations, but the methodology is more arguing about the specific studies to examine how a theory born and its evaluation. As a new discipline, methodology study is very essential to build the scientific foundations of Islamic Economics producing its own theories. Solid methodology eases to raise the scientific structures of Islamic economics from the source of its discipline, utilizing its own scientific foundation. This paper examines the link between Islamic epistemology and the methodology of Islamic economics, the nature and the definition of the methodology itself and its significance in constructing the technical of Islamic economics.Keywords: epistemology, methodology, discipline, significance, Islamic economic
The Role Of Waqf Property Buildings For Beneficiaries
Get PDFThe Tahfidzhul Quran Sulaimaniyah Habibie Center Aceh Besar Islamic Boarding School building is a temporary waqf property resulting from collaboration between the Sulaimaniyah Foundation and the Habibie Center Foundation. There are many permanent waqf building assets whose benefits are less than optimal for mauquf \u27alai\u27ih throughout Indonesia, including in Aceh. This is because the abilities and strategies of waqf managers (nazhir) are still lacking in managing waqf assets professionally. This study aims to determine Nazir\u27s strategy in managing and utilizing waqf land and buildings at the Sulaimaniyah Habibi Center Islamic Boarding School. The research uses a qualitative approach to sources namely Nazirs, Islamic boarding school students, Islamic boarding school alumni, village imams and local communities by collecting data using observation, interviews and documentation techniques. The data analysis method uses data reduction techniques, data presentation, and drawing conclusions. The results of the research show that Nazir\u27s strategy in managing and utilizing waqf property buildings is by managing and utilizing ZIS (Zakat, Infaq and Alms) funds and waqf goods according to their designation as Islamic boarding school operational costs for the continuity of student learning
Sharing Prosperity: Distributive Justice Framework in An Islamic Moral Economy
Get PDFThe issue of distribution in an Islamic economy is not about the allocation of resources/output per se. It is about a ‘just’ allocation of resources/output. This article attempts to elaborate Islamic concept of distribution by exploring the goals of distribution in Islamic economics and mechanisms to achieve distributive justice goals. The focus of discussion is about how to realize ‘distributive justice’ in an Islamic moral economic framework by considering all dimensions: right and responsibility, effort and surplus of individual and public interest. In that spirit, the policy for distributive justice in an Islamic moral economy aims to achieve certain objectives, namely (1) fulfilment of basic needs, (2) establishing socio-economic justice and (3) economic empowerment. To achieve those objectives, Islam uses both moral exhortation to encourage voluntary action and rules/legal measures to ensure distribution/allocation of wealth in society. The distribution scheme in an Islamic economy would attempt to eliminate poverty and deprivation so that the basic needs of all are duly fulfilled. In practice, Islamic economics distribution system is done through (1) the establishment of initial conditions in distribution as the basis upon which operational distribution should be taken place during production and after production; (2) distribution through factor payment; and (3) distribution through transfer payment in the form of compulsory transfers, voluntary transfers and transfer through state
Worldview and the Construction of Economics: Secular and Islamic Tradition
No full textEconomics as a system of thought and body of knowledge is constructed based on certain philosophical foundations derived from a particular worldview. The term worldview, which originated from the German Weltanschauung (composed of Welt, ‘world’, and Anschauung, ‘view’ or ‘outlook’) refers to a world perception, or the concept and framework of ideas through which human interprets the human life and world. The term worldview, in general, refers to belief, doctrine, perspective and values in the sense that it supplies views, assumptions and images of how to perceive things. The worldview which is the perspective in understanding the existence and realities decorates the scientifc atmosphere, its direction as well as objectives. The worldview is also fundamental in supporting the development of a science and its progress. Mainstream economics is developed from the foundation of Secular Worldview which is characterized as materialist (excluding the metaphysics), reductionist (reducing the epistemological basis on positivism with atomistic perspective) and individualist (isolating individual from society). Islamic economics, on the other hand, is developed on the basis of Islamic worldview. The Islamic worldview is claimed to be more comprehensive, integrative and holistic in nature. This would make Islamic economics having a potential to answer the shortcoming found in conventional economics. The paper would explore the nature of worldview in Secular and Islamic tradition and its implications in developing discipline of economics and Islamic economics. The paper also seeks to develop some foundations for Islamic economics to be a distinct discipline
Who is Homo Islamicus? A Qurʾānic perspective on the economic agent in Islamic economics:
No full textPurpose
This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.
Design/methodology/approach
This is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qurʾān and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.
Findings
The paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qurʾānic teachings will be useful in developing assumptions and theories in Islamic economics.
Research limitations/implications
This paper explores the normative behavioral framework of man from the Qurʾānic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.
Practical implications
This paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.
Originality/value
This paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qurʾānic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.
DOI: https://doi.org/10.1108/IJIF-05-2021-010
Theory appraisal in Islamic economic methodology: purposes and criteria
No full textPurpose – The purpose of this paper is to attempt to investigate the conceptual foundations of methodological inquiry in Islamic economics. The paper aims to develop criteria of acceptance and rejection of a theory and providing rationalizations and guidelines in the process of theory appraisal and evaluation.
Design/methodology/approach – The literature on Islamic economics especially in the area of methodology of Islamic economics, both in English and Arabic, is reviewed critically and used in the attempt of constructing the criteria of theory appraisal in Islamic economics.
Findings – The paper explicates two criteria of theory appraisal in Islamic economics, namely the internal-integrity (doctrinal integrity, logical integrity and factual integrity) and relational-unity(of doctrine and practical realities, ideals/goals and factual experiences, values and facts, normative and positive dimensions, a priori and a posteriori).
Research limitations/implications – The paper is based on conceptual explorations of literature in the area of methodology of Islamic economics. This is a conceptual paper, so it did not employ any empirical analysis.
Practical implications – The findings of this paper will give insights of the criteria to distinguish truth over false notions in theories, between valid theories and invalid ones as well as the acceptance or rejection of theory in Islamic economics theory appraisal. With those criteria of theory, a unified discipline of Islamic economics, which is based on doctrinal, logical on testable foundations in a real typical Muslim society can be produced.
Originality/value – The paper proposes criteria and purpose of theory appraisal in Islamic economics which is lacking in the discussion of methodology of Islamic economics literature. Those criteria and purpose in theory appraisal and evaluation in a methodological unity of Islamic economics suggest a new approach in dealing with revelation, intellectual reasoning and facts observation in order to produce a coherent Islamic economic theory.
Keywords Methodology of Islamic economics, Tawhidic methodology, Theory appraisal, Theory evaluation, Criteria, Framework, Islam, Economics
Paper type - Conceptual pape
Maqāṣid al-Sharīʿah and Stipulation of Conditions (Shurūṭ) in Contracts
No full textOne of the maqāṣid al-Sharīʿah (objectives of the Sharīʿah) with regard to wealth is ensuring that it circulates smoothly in society. Among the means that the Sharīʿah uses to achieve that objective is its strong encouragement of undertaking necessary types of commercial activities and its legislation of various types of contracts in order to ensure orderly transfers of wealth on the basis of mutual consent
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