The discipline of Islamic economics emerged making a claim of providing a viable alternative to the then prevailing social orders; namely capitalism and socialism. However, both ideological as well as empirical development of this discipline has made it clear that it seeks its foundation in...

The paper supplements the theory of consumer behavior with insights from the primary sources of Islam. A consumer who maximizes utility operates within four dimensions: moderation, extravagance, waste, and niggardliness. These dimensions take different meanings in each social stratum. A...

Pakistan is an Islamic country and the current paper is an attempt to investigate empirically whether Islamic consumer theory is being applied in this country or not. This study has used a set of questionnaires distributed to all general consumers working in different walks of life in the city...

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is...

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

Islamic economics is not a social science yet. It is a work in progress. Islamic economists differ on methodology for developing Islamic economic thought into a social science. They face several dilemmas surrounding religion, Islamic law, conventional economics, contents of Islamic economics,...

The existing literature on Islamic economics has not undergone any of the processes of verification or falsification. It is mostly restatement of the postulates as found in the Qur'an or hadith. The literature on methodology of Islamic economics is either superfluous, or ambiguous or confusing....

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

Pasar Malam (Night bazar) and Pasar Paghi (Morning bazar) are grassroots microenterprises in Malaysia and Indonesia. They combine traditional approach with the scope of modernizing to develop beyond restrained bounds. This chapter recognizes the potential for further organized ways of developing...