FUTURE ANALYSIS: HOW PHILOSOPHICAL REVAMP SHAPES FUTURE OF ISLAMIC ECONOMICS TOWARDS SUSTAINABILITY?
DOI:
https://doi.org/10.53840/ijiefer81Keywords:
Islamic Economic, Futures Studies, Islamic Economics PhilosophiesAbstract
Almost all Islamic economists agree that Islamic Economic (IE) study is supposed to be derived holistically from Shari’ah that portrays all good values and undoubtedly leading towards sustainability. However, quite a number of Islamic Economists believe that such presupposed, deep connections between the existing IE models and sustainability values do not stand out until today due to many problems and challenges. This paper hypothesizes that the main challenge or problem is because of the improper development of its philosophical foundations. Hence, it first adopts short survey of literature review technique from the vast web research coming from Dimensions and Scopus platforms to confirm the hypothesis. Later, the paper utilizes future study analysis to analyse the desired future which is to establish IE model consisting of strong connection with sustainability axiological values from Shari’ah and its necessary steps to be taken by the researchers of this discipline to achieve it.
Downloads
References
Akhtar, M.R. (2000), “Definition, nature and scope of Islamic economics: a review”, Journal of Islamic Banking and Finance, Vol. 17 No. 1, pp. 53-61
Akram Khan, M. (2013). What is wrong with Islamic economics? :Analysing the present state and future agenda. In What is Wrong with Islamic Economics? :Analysing the Present State and Future Agenda. Edward Elgar Publishing. https://doi.org/10.4337/9781782544159
al-Attas, S. M. N. (1995). Prolegomena to the Metaphysics of Islam. The International Institute of Islamic Thought and Civilization.
al-Attas, S. M. N. (2019). Tinjaun Ringkas Peri Ilmu dan dan Pandangan Alam. Ta’dib International.
Al-Attas, S. M. N. (2005). Islamic Philosophy An Introduction. Journal of Islamic Philosophy, 1(1), 11–43. https://doi.org/islamicphil2005113
Asad Zaman, A. Z. (2019). Launching a Revolution, based on Islamic Foundations. Journal of King Abdulaziz University Islamic Economics, 32(2), 77–88. https://doi.org/10.4197/Islec.32-2.5
Bakar, O. (2010). Economics As Science: Insights from Classical Muslim Classifications of the Sciences. ICR Journal, 1(3), 425–444. https://doi.org/https://doi.org/10.52282/icr.v1i3.728
Beyond Growth: Towards A New Economic Approach Report (Issue September). (2019). https://www.oecd.org/officialdocuments/publicdisplaydocumentpdf/?cote=SG/NAEC(2019)3&docLanguage=En
Comte, A. (1974). Positive Philosophy. Trubner.
Furqani, H., & Haneef, M. A. (2020). Usul Al-Iqtisad approach in developing the foundations of Islamic economics discipline (Vol. 2507, Issue February, pp. 1–9).
Galtung, J., & Inayatullah, S. (1997). Macrohistory and Macrohistorians: Perspectives on Individual, Social, and Civilizational Change. CT: Praeger.
Haneef, M. A. (2011). Islamization of Knowledge After Thirty: Going Back To The Basics. The American Journal of Islamic Social Sciences, 28(3), 75–91. https://doi.org/10.35632/ajiss.v28i3.338
Haneef, M. A., & Furqani, H. (2011). Methodology of Islamic Economics: Overview of Present State and Future Direction*. International Journal of Economics, Management and Accounting, 19(1), 1–26.
Hérault, B. (2006). Public futures studies: themes and variations. Foresight, 8(2), 57–69. https://doi.org/10.1108/14636680610656183
Inayatullah, S. (2008). Six pillars: futures thinking for transforming. Foresight, 10(1), 4–21. https://doi.org/10.1108/14636680810855991
Inayatullah, S. (2012). There’s a Future: Vision for a Better World. There’s A Future Vision For A Better World, 512.
Ismail, A. G., & Shaikh, S. A. (2017). Role of Islamic Economics and Finance in Sustainable Development Goals. 5. https://www.researchgate.net/publication/333103001
Ithnin, F., Sahib, S., Eng, C. K., Sidek, S., & Harun, R. N. S. R. (2018). Mapping the futures of Malaysian Higher Education: A meta - analysis of futures studies in the Malaysian Higher Education scenario. Journal of Futures Studies, 22(3), 1–18. https://doi.org/10.6531/JFS.2018.22(3).00A1
Jandaghi, G., Fathi, M. R., Maleki, M. H., Faraji, O., & Yüzbaşıoğlu, N. (2019). Identification of Tourism Scenarios in Turkey Based on Futures Study Approach. Journal of Tourism, Culture and Territorial Development, 10(20), 47–68. https://doi.org/https://doi.org/10.6092/issn.2036-5195/9488
Kamali, M. H. (2017). Shariah Law Questions & Answers. In Oneworld Publications.
Khan, M. A. (2016). Reconstruction of Islamic Economic Thought: Need for Innovative Thinking (Ijtihad). In SSRN Electronic Journal (Issue December). https://doi.org/10.2139/ssrn.2892074
Lybæk, R., Christensen, T. B., & Kjær, T. (2013). Enhancing the Transition Capability of Danish Biomass Technology By Applying a Futures Study Backcasting Methodology on the Biogas Sector. European Journal of Sustainable Development, 2(4), 37. https://doi.org/10.14207/ejsd.2013.v2n4p37
Mahomedy, A. C. (2013). Islamic economics: still in search of an identity. International Journal of Social Economics, 40(6), 556–578. https://doi.org/10.1108/03068291311321857
Membiela-Pollán, M., Alló-Pazos, M., Pateiro-Rodríguez, C., & Blázquez-Lozano, F. (2019). The Inefficiency of the Neoclassical Paradigm in the Promotion of Subjective Well-Being and Socioeconomic, and Environmental Sustainability: An Empirical Test for the Spanish Case. Sustainability, 11(24), 7102. https://doi.org/10.3390/su11247102
Molitor, G. T. T. (2003). Power to Change the World: The Art of Forecasting. World Future Society.https://www.amazon.com/Power-Change-World-ArtForecasting/dp/0930242017
Nasr, S. V. R. (1987). Towards a Philosophy of Islamic Economics. The Muslim World, 77(3–4), 175–196. https://doi.org/10.1111/j.1478-1913.1987.tb02799.x
Nasr, Seyyed Hossein. (1973). The Meaning and Role of “Philosophy” in Islam. Studia Islamica, 37(37), 57. https://doi.org/10.2307/1595467
Nasr, Syed Hossein. (2010). Islamic Philosophy from its Origin to the Present. In Journal of Social Sciences (Vol. 25, Issues 1–3). https://doi.org/10.1080/09718923.2010.11892872
Nienhaus, V. (2013). Method and Substance of Islamic Economics: Moving Where? JKAU: Islamic Econ, 26(1), 169–202.
Philosophy of Economics. (2003). In Stanford Encyclopedia of Philosophy. https://plato.stanford.edu/entries/economics/#IntrWhatEcon
Pound, W. T. (2000). A Practical Guide to Futures Study: NCSL Task Force on Legislatures of the Future (Vol. 80202, Issue June).
Qadir, J., & Zaman, A. (2019). Sustainable development viewed from the lens of Islam. International Journal of Pluralism and Economics Education, 10(1), 46. https://doi.org/10.1504/IJPEE.2019.098181
Rudisill, J. (2011). The Transition from Studying Philosophy to Doing Philosophy. Teaching Philosophy, 34(3), 241–271. https://doi.org/10.5840/teachphil201134332
Siddiqi, M. (2008). Obstacles of Research in Islamic Economics. Journal of King Abdulaziz University-Islamic Economics, 21(2), 81–93. https://doi.org/10.4197/islec.21-2.4
Downloads
Published
Issue
Section
License
Copyright (c) 2022 Wan Omar Fadhli Wan Mahmud Khairi
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
