Pure economic theory ignores ethical values but in Islamic society these are seen as essentially recreated entities of the social order. Islam presents its worldview not as a pluralistic value but as one that calls for the organisation of social and economic order around its well‐defined...

A theoretical methodology premised on the epistemology of divine unity as the world view of all Islamic socio‐scientific inquiry, is introduced. This general theory based on the knowledge‐centred interactive, integrative and evolutionary process of social becoming is next formulated for the...

The study of resource allocation in market venues is taken up in a comparative framework of neoclassical and various social contractarian theories. It is shown that economic theory does not have an explanation of substantive interactions among agents and variables as it does among society,...

A microenterprise is modeled on Islamic epistemological premises to bring out its extensively applied perspectives using community‐based participatory instruments of Islamic law (Shari’ah ). The case study is for Bangladesh, but the model developed has universal implications. Various...

The theme of micro‐foundation of economic theory has not been adequately addressed. This is true even of those who pioneered the area of micro‐foundation of macro‐economics. The great missing link in economic theory, both of micro‐economics and macro‐economics, is the inability to...

Purpose – Theological perspectives in ethics, values and their functional application in the real world are vividly covered by the theory and practice of Islamic banking in recent times. This paper seeks to formalize the theological paradigm of the unity of God ( Tawhid ) and to make the...

Purpose – The paper aims to offer a new perspective on the strictly microeconomic nature of all of Islamic economics. Writers in this field continue to work in the mainstream tradition without noticing the micro‐interface of the theoretical nature of Islamic economics. This paper aims to...

Purpose – To apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio‐scientific order in terms of its inherent knowledge‐centered worldview. Design/methodology/approach – The concepts of unity and unification of knowledge in a system‐wide sense...

Purpose – Aims to methodologically explain a phenomenological model with empirical contents for modelling ethics in socioeconomic development. Addresses a circular causality between state variables and policy variables for the case of socioeconomic development of Indonesia with ethics and...

Purpose – To address the much heated debate now raging in the international scene, namely between Islam and the West as two great civilization forces of mankind. Design/methodology/approach – The objective is achieved by studying it in the light of rigorous analysis involving the...