Investigation of the possibility of the development of economic knowledge in the Islamic paradigm

Abstract

The credibility of the Islamic economic system is faced with theoretical challenges on the two levels of the possibility of realization and the quality of implementation. In the following article, these two challenges have been explored and answered by referring to the foundations of Islamic thought. Islam and the sovereignty derived from it is a systematic whole and include various sub-systems, including the economic system, and when researching each of the components of Islam, one must study the desired component within that whole. Here the question arises whether this issue is also true for the sub-systems? What are the study approaches related to Islamic economy and what situation does it depict? In the writer's opinion, Islamic economy is a collection of ideas in various fields, and in order for it to become a coherent scientific framework; it needs to be considered with a comprehensive and systematic approach. Otherwise, one-dimensional approaches - although valuable - will leave the goal out of reach. Before examining this issue, it is necessary to address the question of whether Islamic economics is fundamentally possible to achieve objectively. It is often said that economics is a positive science; but Islam includes normative teachings; therefore, just as physics is meaningless with the Islamic definition, so is economics. Our hypothesis is that the Islamic economy is completely possible and we will prove it with a new method. Therefore, scientific texts related to Islamic economics can be formed; the propositions of this science can be gradually put to the test and then put into practice.

Keywords

• feasibility study
• comprehensive and systematic approach
• islamic economics
• study approaches
• positive and normative