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Economic principles in Islam: some methodological issues

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dc.contributor.authorRosly, Saiful Azhar
dc.date.accessioned2017-07-20T03:04:35Z
dc.date.available2017-07-20T03:04:35Z
dc.date.issued1995
dc.description.abstractThis paper examines the nature of economic principles in Islam. Two types of economic principles are identified. The first type refers to the economic laws derived from revelation-based sources namely the Quran, Sunnah, Ijtihad and Ijma. The second type refers to economic lwas derived from reasoning and experience. The former is the economic system and the latter is economic theory. Both forms of economic laws are in harmony and have no basis for compartmentalization as there is no conflict between revelation and science in Islam. in theory building, it is shown that Quran based assumptions act as the linking mechanism in harmonizing revelation and science. As revelation is superior to reason and experience. Modification of economic models for empirical verification must not involve changes in Quranic based assumptions. Only the observed or tabi' based assumptions are subjec to modifications.en_US
dc.identifier.citationRosly, Saiful Azhar. (1995). Economic principles in Islam: some methodological issues. Journal of Islamic Economics, 1 (6), pp. 56-79.en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2577
dc.languageEnglish
dc.language.isoenen_US
dc.publisherInternational Islamic University Malaysiaen_US
dc.rights1995. International Islamic University Malaysia
dc.sourceSEDONA
dc.subjectEconomics principlesen_US
dc.subjectIslamen_US
dc.subjectQuranen_US
dc.subjectSunnahen_US
dc.titleEconomic principles in Islam: some methodological issuesen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic economicsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic economicsen_US
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