Literature on the Philosophy and Theory of Islamic Economy: A Critical Assessment

This study examines the literature on the philosophy and theory of Islamic economics produced in Turkish over the past fifty years. A critical evaluation of this literature finds many positive aspects in terms of both quality and quantity; an increasing number of studies done during this half century has laid out the main principles and the structure of the field. Many books, articles and dissertations produced in Turkey have thus examined the systemic features and organizing principles of Islamic economics as well as its social and ethical aspects. We also witness an increasing academic and institutional interest in the related field particularly in recent years. On the other hand, much of this literature cannot go beyond explicating the field's general principles, is full of repetition, and fails to clarify how these theories would be put into practice. Also, as a further limiting factor on the depth of this literature, most studies remain a product of individual, rather than collective, efforts. These weaknesses constitute the main challenges faced by the study of Islamic economics in Turkey today. No doubt that these challenges stem from a number of legal, intellectual/scientific, political and social factors. What is particularly needed is a constant attempt at interdisciplinary efforts by the experts on Islamic sciences and economics to foster a philosophy/ theory of Islamic economics.


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