Kasb: A Comparative Study of the Concept of Economics in Islamic and Modern Economics

Kasb literature is a genre of works highlighting the exhortation to work and be involved in worldly material affairs, while being attentive to its perils, on the grounds that true reliance is on God alone and each individual man is responsible for his own actions, which must adhere to the boundaries of ethics and morality (akhlāq). Unlike modern economics, the concept of kasb emerges from the outlook of absolute monotheism; thus, man’s involvement in economic activities from the kasb point of view has spiritual and transcendental purposes. On the other hand, modern economics deals only with the physical and material aspects of life, disregarding especially the metaphysical aspects of man. The usage of the term kasb in referring to economics-related discussions can be found persistently throughout the Islamic intellectual tradition, especially in works concerning ethics and spiritual manuals on embarking on a righteous life. Unfortunately, this genre of literature has been scantily explored to date. Hence, this paper aims to examine and analyse the concept of kasb in the Islamic economic tradition and compare it to its parallel in modern economics. The first section deals with the term kasb as used in the works of past scholars. It will then be followed by the discussion on the concept of kasb and a suggestion on the reorientation of the meaning of economics. Understanding the concept of kasb provides a proper basis for the actualisation of wholesome work (alkasb al-ṭayyib) to attain the overarching objectives of the common good (al-maṣlaḥah al-ʿāmmah) and the good life (al-ḥayāh al-ṭayyibah).