Islamic Economics: an Overview


Muh. Sholihin| Independent Researcher on Islamic Economics


Islam isnot economics, and economics isnot Islam.
--Muh. Sholihin--

Indeed, Islamic economics isnot new economics. Because of positivism-economics, Islam economics never had admited as a economic system. It is very different with positivism-economics. For instance, Islamic economics is as a moral economics, Islam economics has gradual epistemology, and Islamic economics is a hard critic for the other economic system. It will elaborate in the paper.
As a moral economics, Islamic economics corrolates with questions—how, what, and why.  It means that islamic economics is tend to vertical relationship—among God and humankind--and also horizontal association—among humankind. Simply, the main goal of islamic economics carry out falah concept—in world or next life. There is an equipoise. It isnot only to took contentment, but consider the big goal in the next life—akhirath.
If the epistemology of economics base on empiricism, and rationalism. Islamic economics is enough different with. Empiricism as the main positivism-economics foundation always consideres to the fact. Falsificationism and justificationism are the common logical used by positivism-economics. Even so Islamic economics believes that the common sources of Islamic economics as a science are two sources—empirical and revelation—hadith and quran. Different in epistemology, it will be different in view economics and all of problem economics.
Islamic economics is a hard critic for the other economics systems—capitalism, socialism. In islamic economics thought, it is popular as alternative-school of the thought. One of hard islamic economics critics to capitalism is about the asumption. If economics views that the core economy problem is source scarcity, even so human desirabilty isnot edge. Islamic economics has habit of that core economy problem is income distribution spoiled.
Thus islamic economics and the other economics—capitalism, socialism—are very distinct. Both islamic economics and economics cannot unite each others. In the context, islamic economics in the first reason to perform is to critic and fix the weak economics system.[]      

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