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SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS

Cilt: 22 Sayı: 1 31 Temmuz 2026
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SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS

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Contemporary economics has been attributed to European Scholasticism’s revival of Hellenistic Aristotelianism period economics. Saint Thomas Aquinas's (1225–1274) work Summa Theologica is postulated as the precursor in this continuum. Summa Theologica is beyond a doubt, established as a brilliant work on the nature of truth. Summa Theologica referenced the works of Plato, Augustine, and Avicenna (Ibn Sina). The Great Gap thesis of Joseph Schumpeter precludes any contributions by medieval Islamic scholarship on the topics of economics. Schumpeter suggests that the revival of economic thought post-Hellenistic period was revived during the 14th-century Christian European Renaissance. The golden age of Islam beacons the works of Islamic medieval scholars like Al Farabi (873-950 AD), Ibn Sina (980-1037 AD), Al-Ghazali (1058-1111 AD), and Ibn Khaldun (1364-1442 AD), etc. These Islamic scholars built the foundation of state economic theories, after thoroughly analyzing the Hellenistic discourse such as Plato’s Republic (375 BC). Schumpeter’s postulation has been challenged by scholars in the East and the West. Will Durant in his 1950 work titled The Age of Faith; sheds light on Western scholarship’s reluctance to acknowledge links between Hellenistic economics, medieval Islamic scholarship, renaissance scholasticism, and contemporary Islamic economic thought. Schumpeter’s Great Gap thesis assumptions about the absence of medieval Islamic scholarship’s contributions to contemporary economics and Islamic economic thought have been argued successfully by scholars like Joseph Spengler, Todd Lowry, Ghazanfar, and Islahi. Baqir Al Sadr’s 1961 work Iqtisaduna is perhaps one of the most comprehensive comparative studies of economics within the context of Islamic economic thought. Al Sadr’s work led the way in the 1970s for modern Islamic banking in the Arab Islamic world, especially Kuwait and beyond through his seminal work titled, Al-Bank Al Rabbawi Fil Islam. Turk scholar Sabri Orman wrote his seminal thesis on Al Khaldun’s theory of social justice in 1981. Orman’s work paved the way for Islamic Finance in Türkiye. This paper aims to study the Islamic economic thought discourse on bridging the gap from Hellenistic economics to contemporary economic thought considering Al Sadr and Orman’s work.

Anahtar Kelimeler

Kaynakça

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  2. Chroust, Anton-Hermann, and Frederick A. Collins Jr. 1941. “The Basic Ideas in the Philosophy of Law of St. Thomas Aquinas as Found in the Summa Theologica.” Marq. L. Rev. 26: 11.
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  4. Fahlevi, Mochammad. 2019. “Islamic Economy and Politics in the View of Muhammad Baqir Sadr.” Journal of Research in Business, Economics and Management 13, no. 2: 2431–36.
  5. Garcia, Michelle. 2013. “Medieval Higher Education: Islamic and Western Academics.” Available at SSRN 2224276.
  6. Ghazanfar, S. M. 2014. “Arab-Islamic Economics.” In Routledge Handbook of the History of Global Economic Thought, 202–15. Routledge.
  7. Ghazanfar, Shaikh M. 2003. “Medieval Islamic Economic Thought.” London and New York: Routledge Curzon. Ghoreyshi, Marieh Seyyed, Ibrahim Nazhat, and Ghodratallah Rezaee. 2015. “The Relationship between Ethical Justice & Practical Wisdom: Aristotle’s and Ghazali’s Viewpoints.” Ciência e Natura 37, no. 6–1: 437–44.
  8. Gilson, Étienne. 1994. L’être et l’essence. Vrin. Khan, Mohd Lateef, and Manzoor Ahmad Guide Bhat. 2011. “Economic Thought of Muhammad Baqir Al-Sadr: A Study of Iqtisaduna (Our Economics).” Masters Diss., University of Kashmir.

Ayrıntılar

Birincil Dil

İngilizce

Konular

İktisat Sosyolojisi

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

31 Temmuz 2026

Gönderilme Tarihi

30 Aralık 2025

Kabul Tarihi

22 Temmuz 2026

Yayımlandığı Sayı

Yıl 2026 Cilt: 22 Sayı: 1

Kaynak Göster

APA
Syed, H., Yılmaz, S., & Özbay, R. D. (2026). SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS. Paradoks Ekonomi Sosyoloji ve Politika Dergisi, 22(1), 86-101. https://izlik.org/JA58HZ27PF
AMA
1.Syed H, Yılmaz S, Özbay RD. SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS. Paradoks Ekonomi Sosyoloji ve Politika Dergisi. 2026;22(1):86-101. https://izlik.org/JA58HZ27PF
Chicago
Syed, Hassan, Sema Yılmaz, ve Rahmi Deniz Özbay. 2026. “SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS”. Paradoks Ekonomi Sosyoloji ve Politika Dergisi 22 (1): 86-101. https://izlik.org/JA58HZ27PF.
EndNote
Syed H, Yılmaz S, Özbay RD (01 Temmuz 2026) SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS. Paradoks Ekonomi Sosyoloji ve Politika Dergisi 22 1 86–101.
IEEE
[1]H. Syed, S. Yılmaz, ve R. D. Özbay, “SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS”, Paradoks Ekonomi Sosyoloji ve Politika Dergisi, c. 22, sy 1, ss. 86–101, Tem. 2026, [çevrimiçi]. Erişim adresi: https://izlik.org/JA58HZ27PF
ISNAD
Syed, Hassan - Yılmaz, Sema - Özbay, Rahmi Deniz. “SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS”. Paradoks Ekonomi Sosyoloji ve Politika Dergisi 22/1 (01 Temmuz 2026): 86-101. https://izlik.org/JA58HZ27PF.
JAMA
1.Syed H, Yılmaz S, Özbay RD. SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS. Paradoks Ekonomi Sosyoloji ve Politika Dergisi. 2026;22:86–101.
MLA
Syed, Hassan, vd. “SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS”. Paradoks Ekonomi Sosyoloji ve Politika Dergisi, c. 22, sy 1, Temmuz 2026, ss. 86-101, https://izlik.org/JA58HZ27PF.
Vancouver
1.Hassan Syed, Sema Yılmaz, Rahmi Deniz Özbay. SCHUMPETER’S GREAT GAP THEORY: HELLENISTIC ARISTOTELIANISM TO ISLAMIC ECONOMICS. Paradoks Ekonomi Sosyoloji ve Politika Dergisi [Internet]. 01 Temmuz 2026;22(1):86-101. Erişim adresi: https://izlik.org/JA58HZ27PF