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The Clash of Ideals

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Beyond Profit

Part of the book series: Contributions to Economics ((CE))

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Abstract

This chapter navigates the intriguing realm of comparative analysis between Islamic economics, rooted in normative ideals, and conventional economic theory, which describes the practical realities of the world. It highlights the fundamental differences in their aims: Islamic economics seeks to inspire individuals to embody higher moral and ethical values and work toward societal well-being, while conventional economics focuses on analysing economic behaviour based on idealised market conditions. By delving into these disparities, this chapter elucidates the diverging paths of these two economic paradigms.

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Notes

  1. 1.

    Some of these scholars include Abu Yusuf (d. 798), al-Mawardi (d. 1058), Abu Ya’la (d. 1065), Nazam al-Mulk (d. 1092), al-Ghazali (d. 1111), Ibn Taymiyyah (d. 1328), Ibn Khaldun (d. 1406), Shah Walliyullah (d. 1762), Jamaluddin al-Afghani (d. 1897), Muhammad ‘Abduh (d. 1905), Muhammad Iqbal (d. 1938), Hasan al-Banna (d. 1949), Sayyid Mawdudi (d. 1979), and Baqir al-Sadr (d. 1980).

  2. 2.

    Some of these authors include al-Katib (d. 749), Ibn al-Muqaffa (d. 756) al-Nu’man (d. 974), al-Mawardi (d. 1058), Kai Ka’us (d. 1082), Nizam al-Mulk (d. 1092), al-Ghazali (d. 1111), al-Turtushi (d. 1127). (For details, see Essid, 1995, pp. 19–41.)

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Authors and Affiliations

  1. Coventry University, Coventry, UK

    Samir Alamad

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  1. Samir Alamad
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Alamad, S. (2024). The Clash of Ideals. In: Beyond Profit. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-031-49748-3_8

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