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1 – 10 of over 7000The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some…
Abstract
Purpose
The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.
Design/methodology/approach
The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.
Findings
The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.
Originality/value
In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.
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Muhammad Sholihin, Catur Sugiyanto and Akhmad Akbar Susamto
This paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the…
Abstract
Purpose
This paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the descriptions of homo Islamicus.
Design/methodology/approach
In this paper prespecified eligibility criteria are applied to select articles that are indexed in Scopus and ProQuest, or published by two major publishers, ScienceDirect and Emerald, or appear on ResearchGate. A set of books related to homo Islamicus was also used as secondary sources to support the selected articles. As a result, this paper systematically reviews 53 articles and four books to synthesize the homo Islamicus.
Findings
There are four notions of homo Islamicus: Firstly, homo Islamicus as the kind of economic agent that is required to achieve Islamic economic objectives. Secondly, homo Islamicus as a defining factor that makes the difference between Islamic and conventional economics. Thirdly, homo Islamicus as an economic agent whose characteristics are something Islamic economics aims to realize. Lastly, homo Islamicus as an economic agent representing the fundamental assumption in Islamic economics.
Practical implications
Mapping homo Islamicus can be helpful for future researchers to conduct analyses related to homo Islamicus, especially in the context of empirical studies of the existence of homo Islamicus in economic reality. This literature review can help other researchers to understand the development of literature related to homo Islamicus.
Originality/value
This paper seems to be the first to systematically identify, select and synthesize the description of homo Islamicus in the literature.
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Hafas Furqani and Abdelghani Echchabi
This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.
Abstract
Purpose
This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.
Design/methodology/approach
This is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qurʾān and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.
Findings
The paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qurʾānic teachings will be useful in developing assumptions and theories in Islamic economics.
Research limitations/implications
This paper explores the normative behavioral framework of man from the Qurʾānic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.
Practical implications
This paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.
Originality/value
This paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qurʾānic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.
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Ildus Rafikov and Elmira Akhmetova
The purpose of this paper is to discuss the methodology of integrated knowledge in Islamic economics and finance and seek to offer collective ijtihād as one way to find solutions…
Abstract
Purpose
The purpose of this paper is to discuss the methodology of integrated knowledge in Islamic economics and finance and seek to offer collective ijtihād as one way to find solutions to the existing problems in the field.
Design/methodology/approach
The study is based on the idea of multidisciplinarity or interdisciplinarity, which uses not only traditional sources of Islam and economics, such as uṣūl al-fiqh, fiqh mu’amalat, econometrics, statistics, microeconomics and macroeconomics but also looks into behavioural and natural sciences for inspiration and solutions. This paper is constructed using the methodology of “the two readings”, as promoted by the International Institute of Islamic Thought, and which combines the revealed and the existential sciences.
Findings
This paper proposes the collaborative multidisciplinary methodology as the main approach to studying the modern problems and challenges, as well as for finding solutions in the fields of Islamic economics and finance.
Practical implications
Studying and researching issues, particularly in the field of Islamic economics and finance, from an interdisciplinary perspective, effectively broadens practical applications and possibilities in Islamic finance.
Originality/value
This paper contributes to social sciences, especially the field of Islamic finance, and calls upon researchers to engage in multidisciplinary studies.
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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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The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses…
Abstract
Purpose
The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses the Islamic perspectives on minimum wage and examines contemporary challenges and intricacies in its application.
Design/methodology/approach
This study uses thematic analysis to create the conceptual framework, drawing upon a review of pertinent literature such as academic papers, books and articles published up to 2023.
Findings
The framework encompasses various categories, namely, employee characteristics, job characteristics, market factors, compensation practices and Islamic principles. Each category consists of multiple variables. The resulting framework offers a holistic and ethically grounded methodology for wage determination, aligning with both Islamic and conventional perspectives. This study notes the absence of a universally agreed-upon minimum wage. Islamic economics faces challenges due to the unclear application of principles, limited awareness, legal constraints and a lack of empirical evidence on wage systems, along with complexities in their implementation.
Research limitations/implications
The paper’s limited scope focuses solely on the Islamic perspective on wage determination, without comparing it to the conventional viewpoint. This may have implications for future research.
Practical implications
The insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.
Originality/value
This study is distinct in its integration of various factors to propose an all-encompassing framework for wage determination, rooted in the Quran and principles, while also reinforcing the framework with conventional theories. Additionally, it adds to the growing body of literature by investigating the Quran’s stance and principles on minimum wage, as well as discusses the challenges involved in implementing an Islamic approach to wage determination, which has received limited attention in Islamic literature.
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Stefan Dreisiebner and Christian Schlögl
The purpose of this paper is to uncover similarities and differences among emphasized information literacy (IL) skills for the disciplines of political- and social sciences…
Abstract
Purpose
The purpose of this paper is to uncover similarities and differences among emphasized information literacy (IL) skills for the disciplines of political- and social sciences, economics, educational sciences, law sciences, mathematics, life sciences, history and German studies, based on an analysis of IL teaching materials.
Design/methodology/approach
Eight issues of the German language publication series Erfolgreich recherchieren (Succesful Research Strategies) are compared by using a structuring content analysis. The category system is based on the IL standards and performance indicators of the Association of College and Research Libraries (2000), extended with additional categories.
Findings
The results, first, suggest that the biggest similarities and differences among the disciplines are found concerning the determination of the nature and extent of the needed information, especially in the area of identifying potential sources of information. Second, some of the disciplines focus more on international sources, whereas others focus on country- and language-specific sources. Third, the criteria to define the appropriate retrieval system differ among the various disciplines. Fourth, approaches to narrow the search results differ among the various disciplines. Fifth, the critical evaluation of sources is addressed in all disciplines but relates to different contexts.
Research limitations/implications
This approach only addresses one book per discipline out of a German language book series. Further research is needed.
Originality/value
This paper is unique in its approach and one of few papers on disciplinary differences in IL perception.
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Ben Hur Francisco Cardoso and Dominik Hartmann
A growing body of literature shows how intragenerational occupational mobility affects economic dynamics and social stratification. In this article the authors aim to carry out a…
Abstract
Purpose
A growing body of literature shows how intragenerational occupational mobility affects economic dynamics and social stratification. In this article the authors aim to carry out a structured review of this literature, outlining a systemic overview for more comprehensive research and public policies.
Design/methodology/approach
The authors use methods from structured literature reviews and network science to reveal the segmented research landscape of occupational mobility literature. The authors made an in-depth analysis of the most important papers to summarize the main contributions of the literature and identify research gaps.
Findings
The authors reveal a segmented research landscape around three communities: (1) human capital theory, (2) social stratification theory and (3) migration studies. Human capital research uses microfounded mathematical modeling to understand the relationship between skills and mobility. Nevertheless, it cannot explain social segregation and generally does not focus on the importance of local labor demand. Social stratification research can explain the social and institutional barriers to occupational mobility. Migration research studies the relationship between migration, labor demand and social mobility.
Originality/value
This paper is the first literature review that uses network analysis to perform a systematic review of the intragenerational occupational mobility literature. Moreover, this review identifies opportunities for mutual learning and research gaps in the research landscape.
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As there are different interpretations of the object of study in the preface to the first edition of Capital (Volume I) by Karl Marx, disagreements arise over the object of study…
Abstract
Purpose
As there are different interpretations of the object of study in the preface to the first edition of Capital (Volume I) by Karl Marx, disagreements arise over the object of study on political economy, which becomes a “difficult problem.” The purpose of the paper is to bring a new solution to the “difficult problem.”
Design/methodology/approach
Based on the analysis of the logic of the original text, the authors attempted to give a new interpretation of the “difficult problem” by analyzing the structure of Capital. The object of study of political economy is “the relations of production in the broad sense” of the capitalist mode of production.
Findings
It comprises relations of production in the narrow sense and exchange relations in the broad sense, and the latter can be divided into exchange relations in the narrow sense and distribution relations. The three of them correspond to Volume I, II and III of Capital, respectively. Consumption in “the four-section theory” is not studied by the political economy.
Originality/value
And the four-section theory is not a part of the theory of Marxist economics but a part of the classical economics criticized by Marx. Therefore, the object of study of socialist political economy with Chinese characteristics is “the relations of production in the broad sense” regarding the socialist mode of production with Chinese characteristics, which is different from the capitalist relations of production in the broad sense.
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Yanbing Wang and Joyce B. Main
While postdoctoral research (postdoc) training is a common step toward academic careers in science, technology, engineering and mathematics (STEM) fields, the role of postdoc…
Abstract
Purpose
While postdoctoral research (postdoc) training is a common step toward academic careers in science, technology, engineering and mathematics (STEM) fields, the role of postdoc training in social sciences is less clear. An increasing number of social science PhDs are pursuing postdocs. This paper aims to identify factors associated with participation in postdoc training and examines the relationship between postdoc training and subsequent career outcomes, including attainment of tenure-track faculty positions and early career salaries.
Design/methodology/approach
Using data from the National Science Foundation Survey of Earned Doctorates and Survey of Doctorate Recipients, this study applies propensity score matching, regression and decomposition analyses to identify the role of postdoc training on the employment outcomes of PhDs in the social science and STEM fields.
Findings
Results from the regression analyses indicate that participation in postdoc training is associated with greater PhD research experience, higher departmental research ranking and departmental job placement norms. When the postdocs and non-postdocs groups are balanced on observable characteristics, postdoc training is associated with a higher likelihood of attaining tenure-track faculty positions 7 to 9 years after PhD completion. The salaries of social science tenure-track faculty with postdoc experience eventually surpass the salaries of non-postdoc PhDs, primarily via placement at institutions that offer relatively higher salaries. This pattern, however, does not apply to STEM PhDs.
Originality/value
This study leverages comprehensive, nationally representative data to investigate the role of postdoc training in the career outcomes of social sciences PhDs, in comparison to STEM PhDs. Research findings suggest that for social sciences PhDs interested in academic careers, postdoc training can contribute to the attainment of tenure-track faculty positions and toward earning relatively higher salaries over time. Research findings provide prospective and current PhDs with information helpful in career planning and decision-making. Academic institutions, administrators, faculty and stakeholders can apply these research findings toward developing programs and interventions to provide doctoral students with career guidance and greater career transparency.
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