Tag Archives: Consumption

Early Analytical Studies on Consumption in Islamic Framework

Salman Ahmed Shaikh Muslim economists have employed the mainstream economics tools to explicate consumption in the Islamic framework. Kahf (1980) uses indifference curves and budget lines. Ahmed (2002) uses utility framework to incorporate Islamic injunctions in the model assumptions as … Continue reading

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Methodological Framework for Studying Consumption in Islamic Economics

Salman Ahmed Shaikh There is considerable debate in Islamic economics literature on what shall be the correct response and attitude towards mainstream economics methodology. There are three varied responses among Islamic economists regarding the issue. The first response is to … Continue reading

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Distinction and Compatibility between Islamic and Mainstream Framework

Salman Ahmed Shaikh This article highlights the points of distinction and compatibility between the Islamic and mainstream economics framework. The distinction comes in the decision horizon and the addition of moral filters on the choice set. The difference also appears … Continue reading

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Islamic Texts on Consumption and Spending

Salman Ahmed Shaikh Islam has its own distinct worldview. The theistic concepts of Tawheed, Khilafah and Akhirah govern the Islamic way of life. The concept of Tawheed implies that all living and non-living things are created by Allah. The concept … Continue reading

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