Islamic Economics: “New Paradigm” or “Old Capitalism”?

  • Necati Aydin


This chapter argues that the recent rise of Islamic finance is moving towards “disguised capitalism” rather than the new economic system based on Islamic values. It defines Islamic moral economy based on the Islamic worldview. It explores the foundational and axiomatic differences between Islamic and capital economic systems. It calls for an authentic economic system based on the Islamic worldview.


Islamic Economics Capitalism Moral Axioms 

JEL Classification

G20 G21 G28 


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Necati Aydin
    • 1
  1. 1.Alfaisal UniversityRiyadhSaudi Arabia

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