Empiricism in Mainstream Economics and Islamic Economics; Reasons and Effects

Abstract

The empiricism from its emergence in the 19th century to the logical Positivism and Falsificationism in the 20th century has had its effects on sciences in its period. These effects in Economics include matters such as: the separation of the prescriptive Economics, renaming the Political economy to Economics, converting the identity of Economics into an instrumental science, effecting on the economic heuman, the change in the method of theorizing and writing of scientific articles, spreading of econometrics and neglecting history of economic ideas and so on. The empiricism has effected unwantedly on economic ideas of Islamic theoresians so that the Islamic economic system does not be counted as of Economics. This leads to some kind of interior incompatibility in the Islamic Economics and likewise the positive and prescriptive dimensions of Islamic Economics be explained with the analytical tools of the Mainstream Economics. The explanation of these issues in the Mainstream and Islamic Economics and its factors is introduction to the reconstruction of the Islamic Economics

Keywords

• empiricism
• mainstream economics
• islamic economics
• fundamental and applied method