Islamic economics as a subject has deep historical roots. However, the present body of knowledge known as ‘Islamic economics' originated in the second half of the last century. During the last four decades, a lot of literature has appeared. However, most of it can be accepted as ‘Islamic...

Islamic economics has its roots in the divine sources of Islam. Despite a respectable body of literature on the subject, a little progress has been made in developing theory of Islamic economics. The paper proposes a methodology for making a beginning in this direction. The divine sources of...

Making a critical review of the conventional classification of factors of production, this paper presents a new classification based on the modes of payments for them approved by shariah. Entrepreneurial and hired factors of production are then described and their demand and supply conditions...

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,...

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 paper is a sequel of an earlier paper by the present writer on the same subject. The basic idea of the present paper as well the previous one was that the Muslim economists, if they are serious about developing Islamic economics as a social science, should move away from the process of...

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....

Dr. Fahim Khan's paper critically examines the conventional method of classifying the factors of production into land, labour, capital and entrepreneurship. It offers an alternative method of classifying the factors of production into two main categories, viz., Hired Factors of Production (HFP)...

The paper aims at explaining the need for a starting point for developing an Islamic theory of economics. The paper emphasizes that what is needed is not a ‘theory of Islamic economics' but an ‘Islamic theory of economics'. It is not merely semantics. The paper explains what difference it...