Islam and Schools of Economics

Economic theory is never neutral; it reflects assumptions about human nature, ownership, and justice. Islam and Schools of Economics examines how Islamic economic thought engages, critiques, and distinguishes itself from major economic ideologies.

About the Book

Islam and Schools of Economics presents a structured comparative analysis between Islamic economics and dominant schools such as capitalism, socialism, and mixed economies. The book begins by outlining the philosophical premises underlying each system, including views on property rights, individual freedom, state intervention, and wealth distribution. It then examines how Islamic economic principles differ in grounding market activity within moral accountability and social responsibility. Core concepts such as prohibition of riba, risk-sharing, distributive justice, and ethical production are analyzed in contrast to profit-maximization frameworks. Structured chapters clarify that economic systems cannot be detached from worldview commitments. The text evaluates both strengths and limitations of competing models while presenting Islamic economics as balanced framework integrating private ownership with social welfare obligations. Analytical reasoning ensures clarity in distinguishing conceptual foundations rather than superficial policy differences. By situating economic debate within moral philosophy, the book emphasizes that sustainable economic systems must align with ethical principles.

What You Will Discover