We provide a detailed discussion of current methodology of economics and its emergence from secular roots in Europe. The foundational principles of this methodology, which is based on logical positivism, are in conflict with Islam. We then sketch some alternative methodologies which would be...

There is a huge number of definitions of Islamic Economics available in the literature. The vast majority take existing definitions from the western literature and modify them to incorporate an Islamic angle. This leads to the widespread belief that Islamic Economics is a variant or a branch of...

Economics started out as a branch of Moral Philosophy. Early in the 20th Century, logical positivists argued that science is the only source of knowledge, and values are not part of science. The desire to make humanities “scientific” led to the creation of the “social sciences”, which...

According to the standard narrative, economics is an objective and scientific study of universal laws applicable to economic affairs of modern societies. After a brief introduction, the second section of the paper presents a counter-narrative which disputes this claim, and provides an...

Bu makalenin Türkçe çevirisi şu adreste bulunmaktadır: 'https://ssrn.com/abstract=3137935' https://ssrn.com/abstract=3137935First generation Islamic Economics promised to create a system with just and equitable economic outcomes, which would be far superior to capitalism and communism....