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1 – 10 of 791The purpose of this paper is to lay down the methodological structure of the epistemology of tawhid (Oneness of Allah). In this paper, the meaning of tawhid also refers to the…
Abstract
Purpose
The purpose of this paper is to lay down the methodological structure of the epistemology of tawhid (Oneness of Allah). In this paper, the meaning of tawhid also refers to the monotheistic unity of knowledge (consilience) in the cast of its organic pairing by circular causation relations between the moral and material possibilities. The paper thereby raises the critique of mainstream economic reasoning and its imitation by existing Islamic economics. Consequently, by the ontological, epistemological and phenomenological foundation of tawhidi methodological worldview, an altogether new socio-scientific reasoning in generality and economic reasoning in particular is introduced.
Design/methodology/approach
The socio-scientific methodological reasoning of unity of knowledge according to the tawhidi methodological worldview is introduced contrary to the inept rational choice postulates of mainstream economic reasoning and its imitation by existing notions of Islamic economics. The method of instructing students in the light of this approach according to Tawhidi Islamic Economics (TIE) is introduced from the existing literature.
Findings
The existing nature of mainstream economics and its imitation by Islamic economics is critically deconstructed and replaced by the true epistemological, ontological and phenomenological perspectives of TIE in the world of learning. Some inner properties of such a methodological study of TIE are laid bare for further investigation.
Originality/value
This is the first paper of its kind in this journal to expound the original and most creative methodological worldview that Islamic economics must bear. This is the foundation of the development of the true stance of Islamic economics and finance.
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This paper aims to argue that Economics is not a neutral science.
Abstract
Purpose
This paper aims to argue that Economics is not a neutral science.
Design/methodology/approach
Post-structuralist perspective of Lyotard (1984), alongside the Pragmatics of Searle (1979) and Travis (1981) are useful for analyzing enunciations in mainstream Economics.
Findings
Economists use illocutionary acts expressed in formal language to achieve perlocutionary effects. Because of the importance attached to objectivity in mainstream Economics, the use of artificial languages is preferred to natural language. However, formal language is preferred regarding its perlocutionary effects on economists' community.
Originality/value
This paper puts together the Continental and the Analytical Philosophy and show, in an original manner, how their intersections and how they can be useful to better understand the epistemology of Economics.
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Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing…
Abstract
Purpose
Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing theoretical pillars for the capitalist market economy system and the scientificity of revealing the internal relations and operating rules of the capitalist market economy. The paper aims to discuss this issue.
Design/methodology/approach
However, after the 1830s, this justificativeness gradually evolved into vulgarity. Since the 1930s, modern western mainstream economics has mainly explored the general market economy on the assumption that the capitalist system remains unchanged, and many outcomes of such research are positive and beneficial.
Findings
Political economy of socialism with Chinese characteristics, at the present stage, is mainly a Chinese socialist market economics. It is guided by the Marxist political economy and rooted in the great practice of China’s reform and opening up and socialist modernization.
Originality/value
According to political complexion, western economic theories can be divided into political economic theory, mainstream economic theory and basic economic theory. By subjecting these theories to what we term “elimination,” “transformation” and “transplantation” surgeries, respectively, we can absorb and accommodate their beneficial elements in building a political economy of socialism with Chinese characteristics, which in turn is conducive to the development and prosperity of such an economy.
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The purpose of this paper is to explore the causes and impact of predatory online publishing on Islamic economics and finance.
Abstract
Purpose
The purpose of this paper is to explore the causes and impact of predatory online publishing on Islamic economics and finance.
Design/methodology/approach
The method adopted involves a library literature scan to identify the origin and expansion of predatory publishing, as references listed in the paper show. The personal experience and observation of the author over the decades of teaching at various universities endorses the evidence.
Findings
The focus on “publish or perish” has led to division of Islamic scholars into conservative and modern economists, and it led to the overuse of mathematical and parametric modeling to the disadvantage of the discipline essentially imbued with unquantifiable ethical norms and values.
Practical implications
The study seeks to induce fruitful and purposive change in the research designs and direction of Islamic economics and finance.
Originality/value
This research initiates discussion on predatory publishing, an issue so far untouched in Islamic economics. It explores its impact on the discipline and suggests ways to curb the malady.
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It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of…
Abstract
Purpose
It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of political economy with Chinese characteristics based on the fundamental principles of Marxist theory and the practice and historical process of Chinese economic reform, through theorizing and systemizing the practices of China's socialist market economy construction. The purpose of this paper is to give some suggestions to establish a socialist theoretical system with Chinese characteristics.
Design/methodology/approach
This paper makes a comprehensive analysis of the principles, objectives, study objects, methodologies as well as the framework of the theoretical system of the political economy with Chinese characteristics.
Findings
Additionally, starting from the unity of opposites between public ownership of resources and resource allocation in a market mechanism, which is the fundamental dialectical relation of China's socialist market economy, the authors will adopt the dual dialectical analysis approach to discover and understand the duality features of the socialist economic system with Chinese characteristics.
Originality/value
With adherence to the mission of China's socialist economic system, the goal of China's market economic reform, and the perspectives of Marxist political economy, the authors must explicitly define the so-called Chinese characteristics and then summarize the dynamics and innovations during the evolution of Chinese socialist political economy with high theory confidence and theory self-consciousness.
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Expanding the research on traditional history of economic ideology into the research on the history of economics composed of three elements – history of ideology, history of…
Abstract
Purpose
Expanding the research on traditional history of economic ideology into the research on the history of economics composed of three elements – history of ideology, history of policies and events – is a new idea for researching the history of socialist political economy with Chinese characteristics. The start of the history of socialist political economy with Chinese characteristics is consistent with that of the Sinicization of Marxist political economy and can be dated from at least 1917.
Design/methodology/approach
The key point of the research on the history of ideologies of the socialist political economy with Chinese characteristics is to treat the relationship between theory and people properly, i.e. we should not neglect the effect brought out by the economists on theory construction while we attach importance to the theoretical contribution of the leaders and leading group of the Communist Party of China (CPC).
Findings
For the research on the history of economic policies of socialist political economy with Chinese characteristics, on the one hand, we should clarify the relationship among ideologies, strategies and policies; on the other hand, we should not evade the summarization of lessons from history.
Originality/value
Besides presenting the development route of socialist political economy with Chinese characteristics under competition, the research on the events in the history of socialist political economy with Chinese characteristics should also help develop the socialist political economy with Chinese characteristics.
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As China embarks upon a new era of high-quality development, it is increasingly important and imperative for China’s economic development to live up to its real nature, which is…
Abstract
Purpose
As China embarks upon a new era of high-quality development, it is increasingly important and imperative for China’s economic development to live up to its real nature, which is to satisfy people’s growing needs for a better life. The paper aims to discuss this issue.
Design/methodology/approach
The paper attempts to discuss the implication of HQD and its related theoretical issues from the basic theory of economics, and literature review. It is necessary to return to Marx’s “dual character of commodity” to check the theoretical foundation of this issue, based on the duality methodology, namely, the duality of the value of use and the value of exchange.
Findings
Moving from HSG phase to HQD phase constitutes a major challenge and an arduous task that is extremely difficult both theoretically and practically. A series of new problems crop out as to the theoretical understanding and practical resolution. Fundamentally speaking, this new dynamic mechanism intrinsically requires a perfect integration of the instrumental rationality of market economy and the value-based rationality of economic development.
Originality/value
This new momentum requires a perfect match between the instrumental rationality of market economy and the value-based rationality of economic development.
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The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.
Abstract
Purpose
The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.
Design/methodology/approach
We must “excavate new materials, discover new problems, propose new ideas, and construct new theories from the practice of China’s reform and development.”
Findings
Giving full play to the government’s role in realizing optimal allocation of resources required for the public economy to better exert its control, influence and guidance, and at least assume the following three responsibilities. The first is to iron out the economic cycle. The second is to lead the industry to upgrade. The third is to ensure national economic security.
Originality/value
Some deep-rooted issues still need to be further studied in order to establish the scientific and practical nature of the socialist economics with Chinese characteristics. For instance, why is the theory of a socialist economy with Chinese characteristics summarized from the development practice in China a scientific theory?
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Murniati Mukhlisin, Nurizal Ismail and Reza Jamilah Fikri
This study aims to analyse whether theories and views of classical Islamic scholars are widely adopted as references in Islamic accounting and finance (IAF), Islamic economics…
Abstract
Purpose
This study aims to analyse whether theories and views of classical Islamic scholars are widely adopted as references in Islamic accounting and finance (IAF), Islamic economics (IE) and Islamic business management (IBM) research studies as part of their contribution to solving current economic and financial problems.
Design/methodology/approach
The research adopts a qualitative meta-analysis methodology using NVivo 12 with selected data from 474 international journal articles published between 1981 and 2021. The study considers 172 IAF articles, 111 IE articles and 191 IBM articles.
Findings
The results of the study show that the use of theories and views of classical Islamic scholars is not widespread among the examined research papers. The findings show that 90% of researchers tend to acquire modern economics, management, psychological and sociological theories instead of classical theories. Both modern and classical theories have been discussed in the studied articles namely agency theory, stakeholders' theory, ḥisbah (accountability), maqāṣid al-Sharīʿah (objectives of Islamic law) and waʿd (unilateral promise). The gaps prevail not only in the taxonomy of terms but also in the choice of paradigm references. It is found that 66% of the 474 journal articles adopt a positivist paradigm, followed by interpretivism (19%), post-structuralism (9%) and critical orientation (6%).
Research limitations/implications
This paper considers only ABS ranking journal articles. Future research may consider other journal articles from different ranking groups such as Scopus or Thomson & Reuters.
Practical implications
The paper sheds light on how Islamic educational institutions can develop strategies for the Integration of Knowledge (IOK) in their curriculum.
Social implications
This paper helps to shape the Muslims' way of thinking within an Islamic worldview which will lead to an Islamic way of expressing knowledge, skill and behaviour.
Originality/value
This paper contributes to the model of IOK that has been deliberated among Islamic universities, especially those that develop IAF, IE and IBM studies.
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It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario…
Abstract
Purpose
It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario misplacement may thus arise. The root cause lies in the lack of reflection about the current relationship between economic thoughts and realities. The paper aims to discuss these issues.
Design/methodology/approach
Correctly understanding economic thoughts associated with the brand of “that era” and effectively deducing its characteristics is of great significance to finding new features of this era and constructing new ideas with the characteristics of “this era.”
Findings
This motif is exactly the keynote on which to base the study of economic history and economic thought.
Originality/value
In a period of major historical turning points, the economic realities on which the economic thinking about that era (the era of economists) relied was undergoing major changes, and re-emphasizing the ancient topic of the relationship between economic thoughts and economic realities became particularly urgent.
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