UDC 330.1:28
Biblid: 0543-3657, 64 (2013)
Vol. 64, No 1149, pp. 56-72

Original Scientific Paper

Islamic Political Theory : An Attempt at Theo-Economics

Veselinov Dragan (professor of political economy at the Faculty of Political Sciences, Belgrade), dragan.veselinov@fpn.bg.ac.rs

This paper discusses Islamic authors’ attempt to set foundation to an Islamic economics as an alternative to the global market economy and Europe’s liberal economic theory. It focuses on principles, notions and practices of Islamic states and business circles of which the economic systems and policies are based on the Koran and the Sharia. A section of the paper analyses Islamic criticism of secular and humanistic ethics of human rights in Europe and relevant counterarguments. Discussing different definitions of Islamic economics by Islamic theoreticians the paper suggests that this variety of definitions testifies that there is no such thing as Islamic economics.

Keywords: theo-economy, Islamic economics, the objective of Islamic economics, theo-ethical criticism of the liberal economic theory, halal and haram deals, definition of Islamic economics