{"title":"A review of methodological issues in conventional and Islamic economics: A methodology for Islamic economics","authors":"S. Siddiqui","doi":"10.4324/9780429320804-11","DOIUrl":"https://doi.org/10.4324/9780429320804-11","url":null,"abstract":"","PeriodicalId":366037,"journal":{"name":"Methodology of Islamic Economics","volume":"160 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114913784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Islamic economics as an integrated social science: Novel ideas on its foundations","authors":"M. H. M. Yusop, Mohd Mahyudi","doi":"10.4324/9780429320804-6","DOIUrl":"https://doi.org/10.4324/9780429320804-6","url":null,"abstract":"One positive response to the Great Recession (2008-2012) is that economics is seriously rethinking on its future shape and direction. As value-free economics begins to wane, Putnam’s (2012) ‘second phase classical theory’ and ‘entanglement of fact and value’ notions look encouraging. Therein lies openings for Islamic economics to project itself as an integrated social science. To that end, our approach is two-fold. Firstly, we critically look into Nienhaus’ (2013) four problems of Islamic economics. Incisively, we assert that Islamic economics is still a widely disregarded field; its normative element is not a hindrance to constructive engagement; growth in ‘Islamic economics light’ research is a boon; and Islamic economic practice has an inherent political economy character. The coherency of our integrated science idea is well-displayed in our arguments. Secondly, we proffer novel insights on epistemological and micro-foundational matters to be applied in future Islamization endeavours. On Islamic epistemology, reason and rationality must be conditioned by the concepts of existence, intelligibility, and moral thinking. We find Kalin’s (2015) position consistent with the expected cognitive conduct for Islamic economists. About the micro-foundation issue, the inadequacy of both homo economicus and homo Islamicus concepts is highlighted. So, the ‘universal man’ proposal is given due weight. We utilise Mahyudi and Aziz’s (2017) new definition of Islamic economics and ‘Quranic framework’ in elaborating on substance and methodology of the discipline throughout this paper. Finally, with enhanced intellectual clarity, we are optimistic about the prospect of Islamic economics furthering the Islamization of knowledge agenda.","PeriodicalId":366037,"journal":{"name":"Methodology of Islamic Economics","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114195377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Methodology of Islamic economics","authors":"Z. Hasan","doi":"10.4324/9780429320804-1","DOIUrl":"https://doi.org/10.4324/9780429320804-1","url":null,"abstract":"The word methodology has several usages. Here, we shall use it to denote its two uses. First, it is the subject that fixed targets for economics to achieve and supervises the discipline from outside to see how far those targets have been achieved with the passage of time. In this sense, methodology is a branch of the theory of knowledge with philosophical import. In this sense, the discussions on methodology in Islamic economics are fruitless and misleading. Second, methodology as a part of economics helps design research and its supervision. In this sense, the methods used in Islamic economics are unduly loaded with Western approach and techniques and call for reform. The controversy and confusion on the issues involved has been lingering for long but has of late assumed disquieting proportions. The paper discusses the subject in the light of the prevalent puritan versus pragmatic approach to the study of Islamic economics. Indeed, their confrontation threatens the very survival of the subject as a distinct academic discipline. The paper suggests a way out of the predicament evaluating the efficacy of the rising concerns and focus on the subject.","PeriodicalId":366037,"journal":{"name":"Methodology of Islamic Economics","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117132928","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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