Theory appraisal in Islamic economic methodology: purposes and criteria

Hafas Furqani (International Shari'ah Research Academy for Islamic Finance (ISRA), Kuala Lumpur, Malaysia)
Mohamed Aslam Haneef (Department of Economics, International Islamic University Malaysia, Kuala Lumpur, Malaysia)

Humanomics

ISSN: 0828-8666

Publication date: 26 October 2012

Abstract

Purpose

The purpose of this paper is to attempt to investigate the conceptual foundations of methodological inquiry in Islamic economics. The paper aims to develop criteria of acceptance and rejection of a theory and providing rationalizations and guidelines in the process of theory appraisal and evaluation.

Design/methodology/approach

The literature on Islamic economics especially in the area of methodology of Islamic economics, both in English and Arabic, is reviewed critically and used in the attempt of constructing the criteria of theory appraisal in Islamic economics.

Findings

The paper explicates two criteria of theory appraisal in Islamic economics, namely the internal‐integrity (doctrinal integrity, logical integrity and factual integrity) and relational‐unity (of doctrine and practical realities, ideals/goals and factual experiences, values and facts, normative and positive dimensions, a priori and a posteriori).

Research limitations/implications

The paper is based on conceptual explorations of literature in the area of methodology of Islamic economics. This is a conceptual paper, so it did not employ any empirical analysis.

Practical implications

The findings of this paper will give insights of the criteria to distinguish truth over false notions in theories, between valid theories and invalid ones as well as the acceptance or rejection of theory in Islamic economics theory appraisal. With those criteria of theory, a unified discipline of Islamic economics, which is based on doctrinal, logical on testable foundations in a real typical Muslim society can be produced.

Originality/value

The paper proposes criteria and purpose of theory appraisal in Islamic economics which is lacking in the discussion of methodology of Islamic economics literature. Those criteria and purpose in theory appraisal and evaluation in a methodological unity of Islamic economics suggest a new approach in dealing with revelation, intellectual reasoning and facts observation in order to produce a coherent Islamic economic theory.

Keywords

Citation

Furqani, H. and Aslam Haneef, M. (2012), "Theory appraisal in Islamic economic methodology: purposes and criteria", Humanomics, Vol. 28 No. 4, pp. 270-284. https://doi.org/10.1108/08288661211277335

Download as .RIS

Publisher

:

Emerald Group Publishing Limited

Copyright © 2012, Emerald Group Publishing Limited

Please note you might not have access to this content

You may be able to access this content by login via Shibboleth, Open Athens or with your Emerald account.
If you would like to contact us about accessing this content, click the button and fill out the form.
To rent this content from Deepdyve, please click the button.