A Feasibility Study of the Reconstruction of Islamic Economics Relying on the Place of Empiricism in Islamic Philosophy

Abstract

Empiricism has had various effects on the essence, method, and outcome of economics. Adopting an empirical approach in economics has been under the influence of both social and rational backgrounds. This approach has also had its impact on theories in Islamic economics, the most important of which has been driving out the study of the Islamic economic system from academic studies. An Investigation of empiricism from the viewpoint of Muslim thinkers reveals that their views are fundamentally different. This study aims to evaluate the data using critical analytic method, and to review the effects of Islamic philosophy on Islamic economics. The most significant finding of this article is that the Islamic principles related to empiricism can pave the way for the reconstruction of Islamic economics. Therefore, economics is regarded as a practical branch of knowledge and the prescriptive section will be included as a subcategory of Islamic economics. Some other results of using the principles of Muslim thinkers in this regard include: inner coherence in Islamic economics, having an appropriate theoretical framework before experiment, paying attention to the history of economic views, the insufficiency of induction in the cognitive process, using principles from other sciences, using practical philosophy in case of not achieving certainty, changing the approach towards the economic human, paying attention to the origin of preferences, and activation of the critical potential in the prescriptive aspect.