Overview

This book presents selected essays on the epistemological foundation of the Islamic world-system, in the light of the exegesis of the Qur’an, to develop existing understandings of Islamic economics. A selection of key contributions by one of the world's leading figures working at the nexus of Islamic social sciences, Islamic philosophy, and Islamic economics, the book integrates applied foundations of Islamic economics and Islamic philosophy, presenting a critical outlook on the existing state of Islamic economics and Islamic finance, within a broader framework of socio-scientific enquiry, philosophical perspectives on Islam, and philosophy of science. The author confronts the absence of epistemic groundwork upon which any fresh social and scientific enquiry is developing in Islamic economics, casting the discussion within an explanatory framework of ‘the unity of knowledge’ as bestowed by Islamic monotheistic law, which substantively characterizes the generalization and details of ‘everything’. The present work unravels this objective methodology and its application with reference to a limited number of issues and problems in global economics. Complex and multidisciplinary in its treatment, this book presents the key arguments on mathematical, philosophical, and socio-scientific modes of inquiry in deriving, developing, and empirically applying the Qur’anic methodology of the “unity of knowledge” to economic problems. It is relevant to scholars and advanced students in social scientific studies of Islam, Islamic theology and philosophy, and Islamic economics and finance.    

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9789819646432

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Although an economist and mathematician by training, Professor Choudhury has contributed to the associated fields of finance, sociology and the philosophy of economics (participative dynamics, circular causation, ethics and well-being). He is the founder of the epistemic field of Tawhid (monotheistic law) and the Islamic socio-scientific world-system, with extensive theoretical and applied studies in the corresponding fields of economics, society and science. In all these areas his focus for much of his career has been in the area of participatory dynamics related to diverse problems of economics, finance, and socio-scientific systems studied in the epistemic worldview. He taught economics for twenty-two years until his retirement from Cape Breton University, Nova Scotia, Canada, in 2008. He graduated with his Masters and Ph.D. from the University of Toronto in 1977. Professor Dr. Masudul Alam Choudhury presently lectures on the Post-Graduate Program in Islamic Economics and Finance in the Faculty of Economics, Trisakti University, Jakarta, Indonesia. He offers Ph.D. level subjects, namely, Islamic Epistemology of Economics and Finance; Islamic Microeconomic Theory; Islamic Macroeconomic Theory; Advanced Islamic Economics and Finance; and Islamic Comparative Development Studies. He is also the Editor-in-Chief of the Journal of Critical Realism in Socio-Economics (JOCRISE). This international journal is published by the University of Darussalam Press, Gontor, Indonesia. Professor Choudhury's most recent publication is the Handbook of Islamic Philosophy of Science: Economics, Society, and Science (2024, Springer Nature).

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