According to the standard narrative, economics is an objective and scientific study of universal laws applicable to economic affairs of modern societies. After a brief introduction, the second section of the paper presents a counter-narrative which disputes this claim, and provides an...

According to the standard narrative, economics is an objective and scientific study of universal laws applicable to economic affairs of modern societies. After a brief introduction, the second section of the paper presents a counter-narrative which disputes this claim, and provides an...

The Quran is the primary source for the teachings and tenets of Islam. There are two to three other sources of Islamic doctrines to which one may also refer. As times change, the community may change social and economic policies rooted in Islamic values in order to meet a society's shifting...

Islamic economy phenomenon is known as a separate object of research since 1940s. However, it kindled the curiosity of multinationals and policymakers much later in the 20th century – when multinationals realized the size and the growth rate of Islamic economy's main segment Halal industry and...

When the private incentives faced by individuals in a society are not properly aligned with their shared goals, a collective action problem arises. This paper focuses on the free-rider problem of aid, the collective action problem of getting people to contribute privately to charity. It examines...

The Quran is the primary source for the teachings and beliefs of Islam. While the community may change the social and economic policies inspired by Islamic values ??in order to meet the changing socio-economic needs of society, the basic principles of Islamic economics and the social system,...