M.G. Ramrde (1842-1901) was among the pioneering thinkers of India who, wanted modification in classical economics and criticized it because of its abstraction, miscalculation of human nature, and no accounting of socio-cultural environment and religious elements. The present paper aims to study...

Conventional economics, both in its free enterprise and command versions sought to delink the science of economics from moral religious values and reduce it to a positive science. Now most economists feel an urgent need for objective analysis of the entire economic landscape with a view to...

In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially...

The present paper aims to give a brief account of the main difficulties faced by the movement of Islamic banking and finance in India. Some of these obstacles may not be special to Indian case. However, their intensity becomes many folds due to prevailing condition of suspicion or indifference...

This paper investigates the state of Muslim economic thinking in the 17th century (11th century AH), through the works in Arabic language, within the territories under the Ottoman rule. It also looks into those written in other parts of the world or in other languages, where translations were...

The present paper investigates the perception of market and mechanism of pricing among the sixteenth century Muslim scholars, a period hitherto unexplored. In the commencement it briefly states the insufficient attention that the subject of market – the most fundamental element of Economics...

The present paper examines and evaluates research experiences in the area of the history of Islamic economic thought during the last 30 years with the objective to see the pace of research and its coverage, both author-wise and idea-wise, and to determine the future research agenda in the light...

This is a comment as discussant of a paper entitled “Choice between debt and equity contracts and asymmetrical information: Some empirical evidence" by Qazem Sadr and Zameer Iqbal, included in Iqbal, M. and Llewellyn, David T. (edit), Islamic Banking and Finance: New Perspectives on Profit...

The concepts of demand and supply are most fundamental in the science of economics. They are the essence of market mechanism. But the idea of classifying all market forces into these two broad categories and of price determination through demand and supply was a very late development in the...

In Islamic tradition two sets of works – al-hisbah and al-siyasah al-shar‛iyah – appeared that proved to be a rich source of economic thought of past Muslim thinkers. Works related to al-hisbah generally discussed socio-economic control, moral and market supervision, prevention of...