The ends of Islamic economics from the perspective of homo economicus and homo Islamicus: a critical study
This paper compares the ends of economic from homo economicusand homo Islamicusperspective. It is a literature study that is combined with the argumentative approach in order to provide the valid comparison of these two. The end or the goal of economics is one of important component of micro fou...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Negeri Metro
2019
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/75792/ http://irep.iium.edu.my/75792/ http://irep.iium.edu.my/75792/ http://irep.iium.edu.my/75792/1/Satria%20n%20Mahyudi%20ends%20for%20IE%20n%20CE.pdf |
| Summary: | This paper compares the ends of economic from homo economicusand homo
Islamicusperspective. It is a literature study that is combined with the
argumentative approach in order to provide the valid comparison of these two.
The end or the goal of economics is one of important component of
micro foundations of economics. It will become one deciding factor in chosing the
most suitable economic agent for Islamic economics. The result of this study
shows that the end of economics from homo economicus perspective, which is
maximization of utility, is facing a huge criticism. The same case is shown in the
end of economics from homo Islamicus perspective, which is maximization of
maslahah. This paper later suggests the use of incremental welfare value as the
end of economics |
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