Methodology of Islamic economics: overview of present state and future direction
This paper argues that research and publications in the area of methodology of Islamic economics is very significant for a meaningful development of the discipline. Although the discussion on methodology of Islamic economics in contemporary Islamic economics literature is rather limited, this pap...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
International Islamic University Malaysia
2011
|
| Subjects: | |
| Online Access: | http://irep.iium.edu.my/41671/ http://irep.iium.edu.my/41671/ http://irep.iium.edu.my/41671/1/METHODOLOGY_OF_ISLAMIC_ECONOMICS_IJEMA_19-1%282011%29.pdf |
| Summary: | This paper argues that research and publications in the area of methodology
of Islamic economics is very significant for a meaningful development of the
discipline. Although the discussion on methodology of Islamic economics
in contemporary Islamic economics literature is rather limited, this paper
reviews the works of selected scholars who have attempted to present works on
‘methodology’ and their approach to the process of theory building in Islamic
economics. The paper then presents some implications of these views based
on the position that methodology investigates the criteria, rationalizations,
arguments and justifications used in theory appraisal as well as evaluating the
reliability of theories, this paper concludes that greater resources, both human
and financial, need to be channeled to developing uÎūl al-iqtiÎād, a fundamental,
but vastly, neglected area of research in contemporary Islamic economics.
JEL Classification: B41, B49, B59, Z12
Key words: Methodology, Islamic economics, uÎūl al-iqtiÎād. |
|---|