Towards An Islamic Economy
The discussion in this booklet revolves around a distinction between a socioeconomic system and the pure science of economics. A socioeconomic system, as already indicated, is supposed to be amenable to social justice, in the processes of production and distribution of wealth, so as to improve the quality of life, Pure economics, on the other hand, can give quantity-oriented assessments of economic life as it is, without going into the question of social justice. With regard to the academic subject of economics, it primarily represents a branch of knowledge. It will be a mistake to confuse any theoretical knowledge of economics with the more comprehensive matter of a socioeconomic system.
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Published Date:
June 15, 2026
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45
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Description
The discussion in this booklet revolves around a distinction between a socioeconomic system and the pure science of economics. A socioeconomic system, as already indicated, is supposed to be amenable to social justice, in the processes of production and distribution of wealth, so as to improve the quality of life, Pure economics, on the other hand, can give quantity-oriented assessments of economic life as it is, without going into the question of social justice. With regard to the academic subject of economics, it primarily represents a branch of knowledge. It will be a mistake to confuse any theoretical knowledge of economics with the more comprehensive matter of a socioeconomic system.
