AN EXPLORATORY STUDY ON ISLAMIC ECONOMICS AS A SCIENCE (original) (raw)
Islamic economics is not a new science. Islamic economics has been practiced by Rasulullah SAW since the sixth century. The arrangement of Islamic economics began in the eighth century by Abu Yusuf, Al Syaibani, Abu Ubaid and so on. Unfortunately, their work is ignored by Western historians Schumpeter, he manipulates history, then the literature of Islamic economics is lost. It affects the spread of western economies and becomes the controller of the world. The result is the current economy is full of usury that violates Islamic shari'ah. To cope with that, Muslim economists compose economic disciplines that are detached from conventional concepts and in accordance with the teachings of the quran and sunnah. Then every Muslim economists express their opinion on the definition of Islamic economics. But the definition of Islamic economics from one economist to another is contradictory, one stating that Islamic economics is a positive science, normative, and a combination of the two. The purpose of this study is to analyze the idea of Muslim economists on the definition of Islamic economics. It starts from grouping the opinions into positive and integrated science then explains the advantages and disadvantages of each group and the differences and similarities of both. The result of this paper, it suggests to use the definition of Islamic economics as an integrated science because there is no separation between sharia and economics. So as to prevent economic actors to violate sharia and appropriate with the economic problems occurred.
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A slightly edited and revised version of this draft is due to be published in Oxford University Handbook on Islam and the Economy, edited by Kabir Hassan and Mervyn Lewis (2013). , 2013