Aim: This article takes a critical look at the claims made by advocates of an Islamic economy, in particular that it differs fundamentally from capitalism and socialism because it is built "on a superior ethical basis. The aim is to find out whether this claim can be creditably sustained and why...

Aim: This article was written out of a felt need to reflect on the relationship between economic theories and models on the one hand and the empirical world as we experience it on the other. The question is in particular whether it is possible for economic models and theories to say anything...