Genealogy and Objectives of Economic Science

  • Zahid Siddique Asst. Professor National University of Emerging Sciences (FAST) Karachi
DOI: https://doi.org/10.32350/jitc.11.02

Abstract

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This paper is an attempt to explain the relationship between subjective elements of social sciences and the framework in which they have evolved and found their research program. We have been encouraged to undertake this exercise by the call for Islamization of social sciences, especially economics, among Muslim scholars. Most of these efforts have begun within the framework of maximization hypothesis. Islamic Economics within neoclassical framework is justified only if neoclassical economics provides some value neutral framework for analyzing economic behavior of an individual which is not the case. Attempts towards Islamization of social sciences fail to understand that social sciences especially economics, offer justification for the capitalistic order overlooking its sociopolitical agenda. This paper explains that all social sciences relate the liberal philosophy to society through symbolic abstract models.

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References

Rose Friedman & Milton Friedman, Free to Choose (New York & London: Harcourt Brace Jovanovich, 1980), 24. The objective of preserving human liberty to make choices can be traced back to the second formulation of Kant‘s categorical imperative according to which the essence of immorality is to subvert the ability of a person to make free, rational choices, named autonomy. Thus, the fundamental duty of a government must be to respect individual‘s autonomy if it is to be a moral government. 122 Stephen Mulhall & Adam Swift, Liberals and Communitarians (Oxford: Blackwell publishers, 1992) 123 Ansari, 71.

Published
2011-03-04
How to Cite
Zahid Siddique. 2011. “Genealogy and Objectives of Economic Science”. Journal of Islamic Thought and Civilization 1 (1), 25-39. https://doi.org/10.32350/jitc.11.02.
Issue
Vol 1 No 1 (2011): Spring 2011
Section
Articles

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