Examining the Meta-Principles of Modern Economics and their Implications for Islamic Banking and Finance
The foundational principles of modern neoclassical economics, as of other disciplines of the social sciences, have been influenced by the overall trajectory of post-enlightenment, secular, humanistic thought and its epistemological roots such as rationalism, methodological individualism, and the assumed supremacy of the scientific method as a way of evaluating all forms of knowledge. This paper contends that an Islamic economics and finance bereft of analyzing and addressing these principles has inadvertently reinforced the very same problematic structures it originally intended to replace.
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Yusuf Jha
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