Guide to Islamic Economics

All my writings are addressed to a Muslim audience, for reasons explained at greater length elsewhere. See, however, DAWA, for writings addressed to those in doubt about the teachings of Islam. A brief introduction (for general audiences) to Islamic Economics and its relevance to today’s economic problems is given in a newspaper article “On Islamic Economics“. Most of my writings, described below, are meant for academics.

My writings on Islamic Economics focus on one main theme, rather different from the rest: Over the past forty years, the vast majority of the field has gone astray, because we have tried to construct Islamic Economics as a MIX of conventional economic theory and Islamic concepts. This does not work because the two bodies of knowledge are directly in conflict with each other. One cannot mix opposite theories and hope to get results. The only way to progress is to reject completely the body of thought currently being taught in universities all over the world under the name of “Economics”. Although this body of thought (Economics) claims an ancient heritage, it is actually due to Samuelson and his followers, who mathematicized this field and eliminated all aspects of the real world from it, in the early twentieth century. For a more detailed exposition of this view, see Crisis in Islamic Economics. For consequences of this view, in terms of how to construct a genuine Islamic economics, my paper on Re-Defining Islamic Economics provides a new definition of the subject matter which is not tainted by false western theories. For an extensive list of conflicts between conventional economics theories and Islamic ideas, see Islam Versus Economics.

Link provides a list of all PUBLISHED papers in Islamic Economics (IE)  in reverse chronological order. Among these, Islamic Economics: A Survey of the Literature provides a broad overview of the field and an exposition of my point of view.

On a separate page, I have organized these papers according to major themes pursued in them. This Thematically organized collection of my publications and drafts on Islamic Economics is available HERE.

I have written a brief autobiography, which focuses on how I was trained as an orthodox neoclassical economist at the best universities in USA, and how I gradually came to the understanding that nearly everything I had been taught was false. This is available under the title: “Invitation to Participate in Creation of an Islamic Economics”

Audio Lectures expositing different themes, often based on one of the papers listed below, are also available on this website. A short collection of three lectures of around 90 minutes each was delivered at Imam Sadiq University in Tehran. This provides a brief overall summary, and might be a good place to start. Lectures for a course on Current Issues in Islamic Economics delivered at International Islamic University are also available:

  1. Three Lectures at Imam Sadiq University on Islamic Economics [3 Lectures at ISU]
  2. Lectures on Current Issues in Islamic Economics, IIIE, IIUI in Fall 2011: {LINK}
  3. Lectures on Current Issues in Islamic Economics, IIIE, IIUI, in Fall 2012 {LINK}