History of economic thoughts hidden within the archives of Abrahamic religions

Khaleel, Fawad; Avdukic, Alija

Abstract

The Ibrahimic religions in spite of their theological differences, share many common grounds in their view of right and wrong within relation to persuasion of market regulations and orthology of governing the market. This research focuses on these common grounds and explores the history of economic thoughts within each religion, as they respond to the ever changing market conditions over the history.

Motivation/problem statement: The historical experiences of Judaism and Christianity, related to their attempts on regulating the market for the promotion of general good can unlock fundamental errors in religion’s efforts of taming the market through regulations. This information can play a vital role in carving the path for the development of Market Regulations within Islam.

Methods/procedure/approach: This qualitative research is a case study which applies disclosures analysis on wide range of available literature for extracting the results.

Conclusion/implications: The path taken by Judaism and Christianity in this journey and the aftermath of historical development within their regulations for market is not only a lesson from history but also a guiding manual which can save Islamic Jurisprudence from falling into the same trap which Judaism and Christianity failed to overcome.

• Acceptance Date: May 1, 2019
• Publication Date: 2020-03
• Deposit Date: Jun 24, 2019
• Publisher: Palgrave Macmillan
• Book Title: Islamic Finance Practices: Experiences from South Eastern Europe
• ISBN: 978-3-030-34419-1
• DOI: https://doi.org/10.1007/978-3-030-34420-7
• Keywords: Abrahamic Faiths, Morality, Market Regulations,
• Public URL: http://researchrepository.napier.ac.uk/Output/1906447