Social Dynamics of Islamic Economic Thought

Humanity has recently encountered two marginal examples, capitalism and socialism. After the practical disappearance of socialism, capitalism continues to be the dominant actor today. Capitalism is based on a worldly human model that is far from moral values and pursues the conflict of interests. The economic system indicated by Islam's set of existence, knowledge and values is based on the rules of law and ethics. These rules address both each member of the society and the general public, and prepare the ground for the economic life to function around Islamic principles. Without understanding these jurisprudential and ethical principles, it is not possible to comprehend the texture and stance of the Islamic economic system. Otherwise, an attempt will be made to place a character to the identity of Islamic economics thought through the eyes of western economic imaginations, which is obviously a wrong approach. The discipline of Islamic economics has two different equivalents, one as a field of science and the other as a doctrine. Today, the fact that an Islamic economic system surrounded by Islamic sensitivities and principles does not find a concrete response paves the way for the thought dimension of the Islamic economics discipline to come to the fore rather than the system context. In this direction, Islamic economic thought deals with the rules and principles for the institutionalisation of the field of economic life. When an institutional Islamic economic system comes into existence on concrete material foundations, it can be the subject of studies in the field of Islamic economics. To achieve this, first of all, it is necessary to reveal the social dynamics of Islamic economic thought in the theoretical framework. The aim of the study develops in this direction.

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DergiPark (Istanbul University)
Published
2024-11-13
Primary Topic
Islamic Finance and Banking Studies
Type
article
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Social Dynamics of Islamic Economic Thought

Gökhan Oruç Önalan
DergiPark (Istanbul University)
Islamic Finance and Banking Studies
article

Social Dynamics of Islamic Economic Thought

Gökhan Oruç Önalan
article en

Abstract

Humanity has recently encountered two marginal examples, capitalism and socialism. After the practical disappearance of socialism, capitalism continues to be the dominant actor today. Capitalism is based on a worldly human model that is far from moral values and pursues the conflict of interests. The economic system indicated by Islam's set of existence, knowledge and values is based on the rules of law and ethics. These rules address both each member of the society and the general public, and prepare the ground for the economic life to function around Islamic principles. Without understanding these jurisprudential and ethical principles, it is not possible to comprehend the texture and stance of the Islamic economic system. Otherwise, an attempt will be made to place a character to the identity of Islamic economics thought through the eyes of western economic imaginations, which is obviously a wrong approach. The discipline of Islamic economics has two different equivalents, one as a field of science and the other as a doctrine. Today, the fact that an Islamic economic system surrounded by Islamic sensitivities and principles does not find a concrete response paves the way for the thought dimension of the Islamic economics discipline to come to the fore rather than the system context. In this direction, Islamic economic thought deals with the rules and principles for the institutionalisation of the field of economic life. When an institutional Islamic economic system comes into existence on concrete material foundations, it can be the subject of studies in the field of Islamic economics. To achieve this, first of all, it is necessary to reveal the social dynamics of Islamic economic thought in the theoretical framework. The aim of the study develops in this direction.

DergiPark (Istanbul University)
Karabük University (TR)
Reduced inequalities
Openalex Percentile: Top 60%
Islamic Finance and Banking Studies
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