Re-Integrating Morality into Economics: An Islamic Perspective

9 Pages Posted: 25 Jan 2014

See all articles by Mohammad Abdullah

Mohammad Abdullah

University of Gloucestershire, Markfield Institute of Higher Education (MIHE), Students

Mohammad Sarwar

University of Gloucestershire - Markfield Institute of Higher Education (MIHE)

Date Written: September 23, 2013

Abstract

Islamic economic theory accords an immense emphasis to the normative approach of economy, and severely discourages any sorts of exploitative means and methods of profit maximization. With an objective to curb the practices of unfairness, exploitation, inequality, injustice and immorality, Islamic economics proposes for an active role of state in regulating and governing the function of the market. Since Islamic economics is premised on moral values and ethical considerations, it puts a great deal of emphasis on formulation and execution of the economic policies that may suit both haves and have-nots in equal terms.

Keywords: Islamic Economics, Morality, Equity, Normative Economics

JEL Classification: A11, A13

Suggested Citation

Abdullah, Mohammad and Sarwar, Mohammad, Re-Integrating Morality into Economics: An Islamic Perspective (September 23, 2013). Available at SSRN: https://ssrn.com/abstract=2384259 or http://dx.doi.org/10.2139/ssrn.2384259

Mohammad Abdullah (Contact Author)

University of Gloucestershire, Markfield Institute of Higher Education (MIHE), Students ( email )

Gloucestershire
United Kingdom

Mohammad Sarwar

University of Gloucestershire - Markfield Institute of Higher Education (MIHE) ( email )

Ratby Lane
Markfield
Leicestershire, le679sy
United Kingdom

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
53
Abstract Views
3,448
Rank
681,640
PlumX Metrics