Araştırma Makalesi

The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics

Cilt: 8 Sayı: 1 31 Mayıs 2022
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The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics

Öz

The purpose of this paper is to compare the understanding of capital in the 7th century Muslim societies and post-industrial era through exploring its meaning in the pre-modern period, in Muslim societies, and its later meanings. In doing this, the institutional logics is used as the conceptual framework of the study. In this paper, the capital term was discussed and examined in three periods: (1) in the 7th century Muslim societies with the help of the concept of Kasb; (2) following the emergence of the industrial revolution in the 18th century; and finally, (3) during the contemporary period. The concept of capital has various meanings from the beginning to the contemporary period. In the 18th century, with the emergence of the industrial revolution, even individuals and their labour were commodified, and the concept of human capital has emerged. Then, in the contemporary period, it is seen that besides humans, their social and cultural relationships are also commodified. In the last section, we critically evaluate the transformation of the concept of capital in the contemporary period and the commodification process in the light of Islamic economics. According to the Islamic economics perspective, the commodification of individuals in the form of human capital and treating a human as capital is not compatible with the morality of Islam. Furthermore, the social relations and the knowledge one possesses also should not be commodified. Islam, with its moral values and norms, prioritizes individuals in social life and their main objective, which is to be a servant to God.

Anahtar Kelimeler

Kaynakça

  1. Al-Shaybani, M. b. el-Hasan. (1997). Kitab al-Kasb. Mektebu’l-Matbuât el-İslamî.
  2. Bourdieu, P. (1986). THE FORMS OF CAPITAL (By J. G. Richordson; pp. 241–258). Greenwood Press.
  3. Cannan, E. (1921). Early History of the Term Capital. The Quarterly Journal of Economics, 35(3), 469–481.
  4. Cizakca, M. (2013). Islamic capitalism and finance: Origins, evolution and the future. Edward Elgar.
  5. Costanza, R., & Daly, H. E. (1992). Natural Capital and Sustainable Development. Conservation Biology, 6(1), 37–46. https://doi.org/10.1046/j.1523-1739.1992.610037.x
  6. Ebû Hayyân. (2010). El-Bahru’l-Muhît. Dâru’l-Fikr.
  7. Fetter, F. A. (2007). Capital, Interest, and Rent Essays in the Theory of Distribution (M. N. Rothbard, Ed.). The Ludwig von Mises Institute.
  8. Fisher, I. (1904). Precedents for Defining Capital. The Quarterly Journal of Economics, 18(3), 386–408. https://doi.org/10.2307/1884076

Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

31 Mayıs 2022

Gönderilme Tarihi

19 Ekim 2021

Kabul Tarihi

11 Mayıs 2022

Yayımlandığı Sayı

Yıl 2022 Cilt: 8 Sayı: 1

Kaynak Göster

APA
Topal, A., & Şencal, H. (2022). The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics. Current Research in Social Sciences, 8(1), 49-59. https://doi.org/10.30613/curesosc.1012069
AMA
1.Topal A, Şencal H. The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics. Curr Res Soc Sci. 2022;8(1):49-59. doi:10.30613/curesosc.1012069
Chicago
Topal, Ayşenur, ve Harun Şencal. 2022. “The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics”. Current Research in Social Sciences 8 (1): 49-59. https://doi.org/10.30613/curesosc.1012069.
EndNote
Topal A, Şencal H (01 Mayıs 2022) The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics. Current Research in Social Sciences 8 1 49–59.
IEEE
[1]A. Topal ve H. Şencal, “The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics”, Curr Res Soc Sci, c. 8, sy 1, ss. 49–59, May. 2022, doi: 10.30613/curesosc.1012069.
ISNAD
Topal, Ayşenur - Şencal, Harun. “The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics”. Current Research in Social Sciences 8/1 (01 Mayıs 2022): 49-59. https://doi.org/10.30613/curesosc.1012069.
JAMA
1.Topal A, Şencal H. The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics. Curr Res Soc Sci. 2022;8:49–59.
MLA
Topal, Ayşenur, ve Harun Şencal. “The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics”. Current Research in Social Sciences, c. 8, sy 1, Mayıs 2022, ss. 49-59, doi:10.30613/curesosc.1012069.
Vancouver
1.Ayşenur Topal, Harun Şencal. The Transformation of the Concept of Capital: A Critical Exploration Through Islamic Economics. Curr Res Soc Sci. 01 Mayıs 2022;8(1):49-5. doi:10.30613/curesosc.1012069