Introduction to Islamic Economics - Mirakhor Abbas

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The Wealth of Nations. Until very recently the economics profession made no serious attempt to connect the two. The result of this disconnect has been the development of a “science” of economics divorced from the ethical foundations so strongly articulated and advocated in The Theory of Moral Sentiments by Smith, the father of the market economic system. Similarly, a study of Falsafatuna would provide a more complete understanding of Iqtisaduna. See also the essay by Ragheef in Iqtisad.

24

They were collectively asked to testify to the Oneness and Uniqueness of the Creator as the One and the Only Cherisher Lord (Rabb) of all creation and everything else that this declaration implies, including the necessity of complying with rules of behavior, which their Lord Creator has ordained and prescribed for a life of felicity on earth. All members of this cycle of humanity, that is, all the progeny of Adam, testified so (Quran 7:172).

25

Kamali (2006), and Mirakhor and Hamid (2009).

26

Weisskopf (1971, pp. 22–23).

27

Ibid.

28

Weisskopf (1971, pp. 22–23).

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