Islamic Economics and Its Economic Structure: Human- Centered Economics and Economic Structure
Abstract
Islamic Economics aims to establish a human centered economic structure. It takes both human material and spiritual dimensions as a whole. Islamic Economics takes the main principles of Islam which shapes Human Rights Centered Solidarity Worldview. It is not based on conflict of interest among the people. It arranges economic relations among members of society according to the parallel interest approach. It accepts that there is parallel interest between individuals and the society. Both sides need each other. One of the main principles of Islamic Economics is that owners of factors of production should arrange their mutual economic relations with agreements based on their free will and desire. Islamic economics accepts human labour as a basic factor of production different than other factors. Human beings are not only factors of production to serve only for the interest of political and economic monopolies. Islamic Economics is based on the natural and scientific principles which aim to realize an economic structure which puts man at the centre of all social activities. Owing to this reason we can call Islamic Economics as Human Economics.
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