Theoretical overview of the concept of Islamic economics, wherein economic activity is based on the teachings of the Koran. Identifies two primary branches of Islamic economics, the liberal school and the Tawhid school.
Written in 1997; 4,950 words; 11 sources; $ 135.95
From the Paper:
"Islamic economics are a set of theories based on the teachings of the Islamic holy book, the Koran. Timur Kuran, author of the highly critical article in the American Economic Review, "The Discontents of Islamic Morality," argued that the purpose of Islamic economics as helping to "prevent Muslims from assimilating into the emerging global culture whose core elements have a western pedigree" (Kuran, 1996, 1). Kuran also believes that Islamic economics are primarily concerned with attaining cultural goals rather than improved fiscal goals. According to Kuran, these theories are an attempt to limit outside influence of any kind on the Arab world.
However, Timur Kuran makes a common error in his review of Islamic economics by assuming that it is one homogenous school of thought motivated solely toward limiting western influence. In fact ..."
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