Economics as Theory and Ideology

1954 ◽  
Vol 6 (3) ◽  
pp. 289-305
Author(s):  
H. van B. Cleveland
Keyword(s):  
Economic System ◽  
Economic Thought ◽  
Western World ◽  
Economic Systems ◽  
Human Society ◽  
Economic Problems ◽  
Goods And Services ◽  
Economic Liberalism ◽  
Eighteenth And Nineteenth Centuries ◽  
Classical Economic

There is not a great deal to be said about economics which is truly universal. One can say that economics is the study of economic systems. Economic systems can be defined as systems of human actions concerned with the production and the distribution of goods and services which are scarce relative to the wants of the community. But statements of this kind, which attempt to define the economic aspect of human society in universally valid terms, are far too general to serve as premises from which an economic theory, useful for understanding actual economic problems, can be logically deduced. To have theory, one must start with premises and assumptions about some particular economic system, historically given, or some particular kind of economic system. The great bodies of economic thought of the Western world—mercantilism, classical and neo-classical economic liberalism, and the various schools of Marxist economic—have been theories relevant to particular economic systems: those, let us say, of the Western world in the seventeenth, eighteenth, and nineteenth centuries.

scholarly journals Ekonomi Syariah Sebagai ‘Trend’ di Era Globalisasi

2016 ◽  
Vol 1 (2) ◽  
Author(s):  
Jefri Putri Nugraha
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Economic Activity ◽  
Human Life ◽  
Economic Thought ◽  
Islamic Finance ◽  
Economic Problems ◽  
The World ◽  
Islamic Economic

Islam is a universal religion that regulates all dimensions of human life both; the world and the hereafter. Islam has also arranged economic problems since Islam was revealed through the Prophet Muhammad. Al-Quran and al-Hadith as the main reference of sharia economic thought. Islamic finance has become an economic system that was born along with the birth of Islam, but only this decade Islamic economic system become trending topic of discussion. Considering followers conventional notions began to look at the economic system of Syariah. In the era of globalization, there are a tendency in economic development for more attention to ethics in economic activity. This paper aims to explore in depth discussion on the trend of global economic and its development at the same time, reveals the opportunities and challenges in the economic development of sharia in the context of global economic development era.

scholarly journals EFISENSI DISTRIBUSI PENDAPATAN DALAM EKONOMI ISLAM

2021 ◽  
Vol 7 (1) ◽  
pp. 47-60
Author(s):  
Abdul Qadir
Keyword(s):  
Data Analysis ◽  
Economic System ◽  
Distribution System ◽  
Qualitative Method ◽  
Distribution Patterns ◽  
Economic Systems ◽  
Economic Problems ◽  
Or Groups ◽  
Production Distribution ◽  
Distribution Of Income

Transitions between production, distribution, and consumption in an economic system are inseparable from one another. If one of them experiences a problem, it will have an impact on all of them (economic problems occur scarcity), meaning that if one of the three foundations is scarce it will cause problems in the wheels of the economy. creates conflict, this is different from the economic system in Islam, that property should not be controlled by a handful of people or groups in order to have justice and distribution. The purpose of this paper is to find out how the distribution patterns of production in Islam and conventional. Meanwhile, the problem formulated is how the effectiveness of production distribution without having to harm one of the parties, so that the distribution will reach the market which is the meeting place between traders and consumers. The object of this study is focused on how the efficiency of distribution in Islamic and conventional economic systems, while the data used is in the form of scientific works and writings related to distribution, then the data analysis is a descriptive qualitative method. The theory used is related to distribution as Adiwarman A Karim's opinion, which states that justice in the distribution system does not have any parties being judged. The conclusion of the paper is that the efficiency of allocation and distribution of income based on the Islamic perspective can be said to be efficient if it has been fulfilled and there are no parties being judged.

scholarly journals A Theory of Human Flourishing for Company Decision-Making

2021 ◽  
Author(s):  
◽  
Liina Bårdsen
Keyword(s):  
Well Being ◽  
Environmental Concerns ◽  
Western World ◽  
Human Flourishing ◽  
Economic Problems ◽  
Goods And Services ◽  
Work Community ◽  
Private And Public ◽  
Social Environmental ◽  
Main Engine

<p>Business is one engine of well-being, and the main engine of material well-being, in society. Companies produce goods and services that we would not be able to do without or that add comfort or pleasure to our lives, provide us with jobs, and help make our communities dynamic and lively. Still, businesses come increasingly under criticism for being the cause of many social, environmental and economic problems, and are often seen as prospering at the expense of individual people and the broader society. Also, as customers or employees of businesses, we are frequently dissatisfied with substandard product quality, unfriendly service, a work community in which not everyone is pulling in the same direction or leaders who do not inspire. We invest many resources and much energy and time in our roles that have to do with companies. In such a situation, it seems justified to ask whether businesses are fulfilling their potential, if viewed as agents of well-being. My thesis aims to be one contribution to the active academic, political and societal debate we have in the Western world on the appropriate evolution of businesses in the 2010s. Faced with intensifying competition from developing world produce, large private and public sector debts restricting consumption opportunities at home, and social and environmental concerns about ways companies operate, Western businesses are re-thinking their strategies. Many progressive companies are going even further and are revising their objectives in ways that challenge our traditional conception of what a business is, what it does and how.</p>

scholarly journals KETAHANAN EKONOMI KELUARGA DALAM EKONOMI ISLAM: SEBAGAI UPAYA MENCARI SOLUSI ALTERNATIF

2021 ◽  
pp. 49
Author(s):  
M. Ikhwan ◽  
Imroatus Solihah
Keyword(s):  
Economic System ◽  
Qualitative Method ◽  
Economic Systems ◽  
Economic Resilience ◽  
Economic Problems ◽  
Normative Approach ◽  
Family Economy ◽  
The Family ◽  
The Government ◽  
Islamic Economic

This paper explains the Islamic economic system which is believed to be not only an alternative economic system but can be a solution to various economic problems including the family economy. To explain this will explain the definition, genealogy and comparison of Islamic economics with conventional economic systems, and the last explained the Islamic economic solution to the economic resilience of the family economy. This paper uses a qualitative method to narrate the concept of Islamic economics as a solution to the family economy with a philosophical and normative approach and refers to secondary research sources such as books, journals and other scientific articles. From the observations that have been made, the economic resilience of the family starts from applying the Islamic economy in household life, then being simple/modest, abandoning usury practices, giving zakat, the spirit of work, avoid asking for solicitation and addressing the government properly.

scholarly journals REDEFINIG ECONOMIC SYSTEMS AS AN ISLAMIC ECONOMIC SYSTEM

2016 ◽  
Vol 12 (1) ◽  
Author(s):  
Muhammad Waqas ◽  
Keyword(s):  
Economic System ◽  
Private Property ◽  
Practical Implication ◽  
Economic Systems ◽  
Social Variables ◽  
Economic Problems ◽  
The Social ◽  
Different Types ◽  
Islamic Economic ◽  
Loan System

Objective: Need of a new economic model has been realized at the international level, as numerous and significant flaws has appeared in both two systems capitalism and socialism, which are becoming a great cause for economic crises in almost every economy of the word, in this regard this study has been carried out on the redefining Islamic economics as a new model, that how it can take out those problems and flaws which has appeared in both structure. Methodology: Islamic economic system doesn’t emphasize only on the economic variables it also considers the social variables which has been neglected by both previously and currently practicing systems (socialism and capitalism).current study is a comparative analysis of all said systems. Findings: It has been also observed that in spite of having great strength to winkle out all the economic problems, without interest how we are able to get the profit and what different types of new loan system that is RIBA free and helpful for getting the good profit. Practical Implication: In Islamic economic system the private property is being debatable. Government or state should be involved in only condition if market is failed to provide public good and education.

scholarly journals اسلامی معاشی پالیسی کے اصول اور سرگرمیاں

rahatulquloob ◽  
2020 ◽  
pp. 158-164
Author(s):  
Dr Aziz ur Rehman Saifee ◽  
Dr Muhammad Mash'hood Ahmad
Keyword(s):  
Property Rights ◽  
Income Distribution ◽  
Economic System ◽  
Economic Systems ◽  
Middle Ground ◽  
Way Of Life ◽  
Goods And Services ◽  
Islamic Economic

Islamic    economics (Arabic: الاقتصاد الإسلامي‎‎), is a term used to refer to Islamic commercial jurisprudence or fiqh al-mu'āmalāt (Arabic: فقه المعاملات‎‎), and also to an ideology of economics based on the teachings of Islam that takes a middle ground between the systems of  Marxism and capitalism. As a complete way of life, Islam has provided guidelines and rules for every sphere of life and society.  Naturally, a functioning economic system is vital for a healthy society, as the consumption of goods and services, and the facilitation of this by a common medium of exchange, play a major role in allowing people to realize their material and other goals in life. Islam has set some standards, based on justice and practicality, for such economic systems to be established.  These standards aim to prevent the enmity that often occurs between different socioeconomic sections. Islamic economic principles are based on Qur’an, Sunnah, Ijma (the consensus of religious scholars), and Qiyas (personal opinions based on analogy and religious doctrines). Islam provides specific instructions on the Property Rights, Income Distribution, Zakat, Ushr or tithe, Kharaj and Inheritance. This article explains about the Principles and Activities according to Islamic thoughts and Seerah.

scholarly journals A Macroeconomic Model of an Interest-free System

1995 ◽  
Vol 34 (1) ◽  
pp. 55-68 ◽  
Author(s):  
Hamid Zangeneh
Keyword(s):  
Economic System ◽  
Model Building ◽  
Banking System ◽  
Rate Of Return ◽  
Economic Systems ◽  
Free System ◽  
Simplifying Assumptions ◽  
Islamic Economic ◽  
Classical Economic ◽  
The Impact

A number of economic models have been designed to evaluate and analyse the Islamic banking system. However, less attention has been paid to macro model-building in an Islamic framework even though most of the Keynesian, Classical, and Neo-classical economic systems are compatible with the tenets of Islamic economics. In this paper an interest-free economic system is formulated in terms of the familiar Neo-classical macroeconomics models. Even though the rules of conduct for Muslims in an Islamic economic system are different from those in the non-Islamic economic systems, it is shown that the Islamic economic system does exhibit properties that are consistent, reasonable, and familiar. For example, under some reasonable simplifying assumptions, the model shows that savings and investment do not necessarily have to fall because of the institution of an Islamic economic system, as some economists suggest. These depend on the rate of returu on mudarabah investment, just as they depend on the rate of return on investment (profits) in a credit-based economic system. These could be higher, lower, or remain the same relative to their levels in a credit-based economy under different conditions. The model also shows the impact of fiscal and monetary policies on the rate of inflation, the rate of return on mudarabah, and therefore on the investment demand. The model shows that, in general, an economic system based on Islamic principles is viable; it also provides unique solutions for income, employment, and prices.

scholarly journals A Theory of Human Flourishing for Company Decision-Making

2021 ◽  
Author(s):  
◽  
Liina Bårdsen
Keyword(s):  
Well Being ◽  
Environmental Concerns ◽  
Western World ◽  
Human Flourishing ◽  
Economic Problems ◽  
Goods And Services ◽  
Work Community ◽  
Private And Public ◽  
Social Environmental ◽  
Main Engine

<p>Business is one engine of well-being, and the main engine of material well-being, in society. Companies produce goods and services that we would not be able to do without or that add comfort or pleasure to our lives, provide us with jobs, and help make our communities dynamic and lively. Still, businesses come increasingly under criticism for being the cause of many social, environmental and economic problems, and are often seen as prospering at the expense of individual people and the broader society. Also, as customers or employees of businesses, we are frequently dissatisfied with substandard product quality, unfriendly service, a work community in which not everyone is pulling in the same direction or leaders who do not inspire. We invest many resources and much energy and time in our roles that have to do with companies. In such a situation, it seems justified to ask whether businesses are fulfilling their potential, if viewed as agents of well-being. My thesis aims to be one contribution to the active academic, political and societal debate we have in the Western world on the appropriate evolution of businesses in the 2010s. Faced with intensifying competition from developing world produce, large private and public sector debts restricting consumption opportunities at home, and social and environmental concerns about ways companies operate, Western businesses are re-thinking their strategies. Many progressive companies are going even further and are revising their objectives in ways that challenge our traditional conception of what a business is, what it does and how.</p>

The principles of duality in the light of the system economic theory

2019 ◽  
pp. 127-149
Author(s):  
George B. Kleiner
Keyword(s):  
Economic Theory ◽  
Economic System ◽  
External Environment ◽  
Black Box ◽  
Space Time ◽  
Production Cycle ◽  
Economic Systems ◽  
New Approach ◽  
Reproduction Cycle ◽  
Basic Concepts

This paper shows the diversity and significance of relations of duality among different economic systems. The composition of the principles underlying the system economic theory used for the analysis of duality in the economy is investigated. The concept of the economic system is clarified and the equivalence of three basic concepts of the economic system is shown: a) as a space-time volume (“black box”); b) as a complex of elements and connections among them; c) as a tetrad, including object, project, process and environment components. In a new way, the concept of the tetrad is revealed. The actual interpretation of the interrelationships of its components, based on the mechanisms of intersystem circulation of spatial and temporal resources and the transmission of abilities from one economic system to another, is proposed. On the basis of the obtained results, the most essential aspects of duality in the theory of economic systems are considered. It is shown that the interaction of internal content and the nearest external environment of economic systems lies in the nature of the relations of duality. A new approach to modeling the structure and to functioning of the economic system, based on the description of its activities in the form of two interconnected tetrads (the first tetrad reflects the intrasystem production cycle and the second one — the external realization-reproduction cycle) is put forward. It is shown that the concept of duality in a system economy creates prerequisites for adapting the functioning of local economic systems (objects, projects, etc.) in a market, administrative and functional environments and, as a result, harmonizing the economy as a whole.

REVIVING ECONOMIC THOUGHT BY MANNAN PERPECTIVE

2020 ◽  
Vol 15 (2) ◽  
pp. 353-378
Author(s):  
Muhammad Majdy Amiruddin ◽  
Muhammad Ismail ◽  
Hasanuddin Hasim
Keyword(s):  
Adam Smith ◽  
Main Idea ◽  
Scientific Work ◽  
Economic Thought ◽  
Small Contribution ◽  
Literature Study ◽  
Goods And Services ◽  
Study Techniques ◽  
Islamic Economic ◽  
Modern Era

The reviving of modern economic theory is usually stated starting from the publication of Adam Smith's The Wealth of Natoins, in 1776, although other thinkers who first also gave no small contribution. The main idea put forward by Adam Smith is that competition between various suppliers of goods and buyers will produce the best possibilities in the distribution of goods and services because it will encourage everyoe to do the specialization and increase in capital so that it will produce more value with a permanent workforce. From the Islamic perspective, there are several names that commonly known such, Baqir, Umar Chapra, and Mannan. The purpose of this research is to explore the revival economic though by Abdul Mannan. This research adapts content analysis method, which is a researcher conducts a discussion of the contents of written or edition information in the mass media. The data analysis techniques of this scientific work use literature study techniques, comparative, induction, and deduction. The study began by collecting literature data from Muhammad Abdul Mannan's Concept of Thinking about the Development of Modern Era Islamic economics and Modern Era Islamic Economic concepts in general, (researchers only participated in the discussion). Then proceed with the interpretation that researchers try to understand Muhammad Abdul Mannan's thoughts about the Development of Islamic Economics in the Modern Era. The result of this reseacrh indicates that the revival of Islamic thought by determining basic economic functions that simply cover three functions, namely consumption, production and distribution. Those basics are rooted by Five basic principles rooted in Shariah for basic economic functions in the form of consumption functions are the principles of righteousness, cleanliness, moderation, benefit and morality

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