A New Approach to Islamic Economics
Channel: Asad Zaman
Date: 2023-02-02

{writeup: bit.ly/na2ie} Over the past fifty years, attempt to build Islamic Economics as an extension or supplement to conventional economics have failed. This is because the normative frameworks underlying modern economics are based on competition, greed, individualism, and hedonism. These are diametrically opposed to the cooperation, generosity, social responsibility, and striving for success on Judgment Day which characterize an Islamic society. Our new approach constructs the theoretical framework for economics on the foundations of the Quran and Sunnah, and the historical experience of Islamic Civilization.