An Introduction to Islamic Economics

The present book aims at showing the contours of an Islamic economy. Its main theme is that the neo-classical economics which has fashioned the present-day world has outlived its utility. Its approach is narrow, its assumptions are unrealistic, and its strategies inhuman. It has landed humanity into an abyss of problems. If human thinking does not transcend the basic framework of neoclassical economics, the future of man on this globe is pretty bleak. In this background, the Islamic economic precepts provide a ray of hope. The present book invites the reader to cast an objective look at the principles of Islamic economics and perceive their potential. The book addresses both the common reader and the professional economist trained in the West. It is not, however, a detailed exposition of the subject. Instead, it attempts to give a bare introduction to the subject of Islamic economics.