Macroeconomic Relations in the Islamic Economic Order
Abstract
Josef Alois Schumpeter indicated in his monumental work that economic science, if it is to be a science, must be bereft of all shades of value judgements. He defined “scientific economics” to mean “the sum total of the historical, statistical and theoretical techniques, together with the results they produce”. The impingement of all shades of value judgements was to be considered outside the pale of economic theory, because, as Schumpeter claimed, such judgements leave economic analysis unaffected. Notwithstanding this claim, the statement could not be sustained in the body of Schumpeter's work.
Citation
Alam Choudhury, M. and Azizur Rahman, A.N.M. (1986), "Macroeconomic Relations in the Islamic Economic Order", International Journal of Social Economics, Vol. 13 No. 6, pp. 60-78. https://doi.org/10.1108/eb014019
Publisher
:MCB UP Ltd
Copyright © 1986, MCB UP Limited