Tag: Epistemology

Expanding the Frontiers of Economics: Some Insights from the Qur’anic Revelation

The noted author is one of the pioneer contributors in the field of Islamic economics. He has written on methodology of Islamic economics from time to time. He is an objective thinker who had made critical evaluation of both mainstream economics as well as Islamic economics on some aspects. In principle, he wants Islamic economics to be an analytical field. He expects that mainstream economics shall avoid bias against religion and should not undermine and disregard knowledge that comes from religious texts. Some knowledge that comes from religious sources dates back to centuries. However, such knowledge is still applicable today. Instead of arriving at same conclusions and reinventing the wheel, it is not unwise to pay heed toward the knowledge that emanates from religion.

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Influence of Physics in Contemporary Mainstream Economics

Those scientists who believe in Scientism and hold that the experimental method is the only arbiter in all matters of life need to look no further than the field of economics where the tools and concepts of physics are applied. Even though science cannot be arbiter in morals, defining motives, public policy and politics, but it cannot even be a perfect and sufficient tool in explaining economic behaviour by taking the analogy of animal behaviour which is based on self-interest and survival instincts.

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