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4 - The Appraisal: Contemporary Islamic Economics and the Entrenchment of Modernity

Published online by Cambridge University Press:  01 November 2021

Sami Al-Daghistani
Sami Al-Daghistani
Affiliation:
Norwegian School of Theology, Religion and Society
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Summary

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.

Keywords

critiquesocial sciencesepistemology and methodology of economicshybrid framework
Type
Chapter
Information
The Making of Islamic Economic Thought
Islamization, Law, and Moral Discourses
 , pp. 221 - 255
Publisher: Cambridge University Press
Print publication year: 2022

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