Scholaria Contributions 2

Methodology of Islamic Economics (Part 2)

Building upon the theoretical presuppositions of Part 1, this article examines methodological approaches to formulating an Islamic economic system. It critiques the approach of Martyr al-Sadr and informal three-tiered methods, proposing instead a comprehensive, unified derivation process. The author outlines four essential steps—assessing derivation sources, expanding principles of jurisprudence (Usul al-Fiqh), utilizing general contractual sources, and reforming minimalist perspectives—to develop a robust alternative to conventional economic models.

Methodology of Islamic Economics (Part 1)

This article outlines the foundational methodology for deriving an Islamic economic system. It establishes three core presuppositions: the existence of such a system in Islam, the necessity or possibility of its derivation, and the requirement for a specialized methodology distinct from conventional jurisprudence. The text also critiques opposing perspectives that either deny the existence of a cohesive system or argue that standard jurisprudential methods are sufficient for its construction.