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Published online by Cambridge University Press: 01 November 2021
Chapter 4 critiques contemporary Islamic economics as a disciplinary synthesis of Western economics and basic Islamic tenets. The first part of the chapter discusses the intricate relation between Sharīʿa and the field of economics in Islam by critiquing the legal premise of contemporary Islamic economics. The second part critically examines the Islamic economic project’s epistemology and methodology, and the amalgamation of the two epistemic systems: Islamic conceptual history and Western economic tradition. This composition provided Islamic economics with a hybrid framework, consisting of Islamic ethics and a neoclassical economic outlook.
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