In the economic development literature, both the definition and scope of economic development has gone through significant changes. Initially, economic growth and economic development were synonymous terms and per capita income was a sufficient enough barometer for informing about the level of...

The paper aims to present the Islamic appraisal of established theories in academic literature of development economics, both in classical and neo-classical economics. The paper also explains the Islamic concept of human development and shows it to be more welfare maximizing to humans in their...