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Re-evaluation on assumptions in Islamic economics: a preliminary study

Muhammad, Mohd. Zulkifli and Mohd. Rosdi, Mohd. Syakir and Abdullah, Azwan and Muhamad, Nasrul Hisyam Nor (2018) Re-evaluation on assumptions in Islamic economics: a preliminary study. International Journal of Academic Research in Business and Social Sciences, 8 (10). pp. 162-173. ISSN 2222-6990

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Official URL: http://dx.doi.org/10.6007/IJARBSS/v8-i10/4722


This paper is intended for a preliminary study in re-evaluating Islamic economics assumptions. The assumptions were based on the two common assumptions in economic system which includes scarcity of resources and humans unlimited wants. This paper analyses how far these assumptions in Islamic economics placed tawheed as their axis and aligned with tasawwur Islam. The analysis was done by studying opinions and views of several Islamic economists. Content analysis and literature review were utilized to reach this objective. From this preliminary study, it was found that the current assumptions in Islamic economics were not favouring towards the true concept of tawheed and tasawwur Islam. It implies the needs for a more comprehensive study to be done in order to come up with a new resolution on the real assumptions of Islamic economics.

Item Type:Article
Uncontrolled Keywords:Islamic economics, assumptions, scarcity Of resource
Subjects:B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:Islamic Civilisation
ID Code:86908
Deposited By: Yanti Mohd Shah
Deposited On:22 Oct 2020 12:13
Last Modified:22 Oct 2020 12:13

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