Paradigmatic foundation and moral axioms of ihsan ethics in Islamic economics and business

Abstract

PurposeThis paper aims to explore the root cause of growing gap in Islamic moral ideals and practices by examining paradigmatic foundation and moral axioms of Islamic business ethics. It compares and contrasts Tawhidi and secular paradigms in terms of their moral axioms and ethical mandates.Design/methodology/approachThe paper first presents the paradigmatic foundation of Islamic ethics, namely, ihsan ethics. Second, it compares Tawhidi paradigm of Islam with secular paradigm in respect to their ontological, axiological, anthropological and teleological differences. Third, it links to Islamic moral axioms to the relevant paradigmatic pillars. Fourth, it defines “ihsan ethics” based on Tawhidi paradigm and moral axioms. Finally, it sheds some light on the gap between moral ideals and realities through the theory of ihsan ethics.FindingsThe paper attempts to provide strong conceptual and theoretical tools to understand ethical problems in the Muslim societies. The paper makes a strong case that Muslim minds shall be de-secularized to perceive the reality, truth and telos within Tawhidi worldview. As Muslims reach the level of ihsan by perceiving transcendental reality, they are likely to practice what they preach.Originality/valueThe paper proposes “ihsan ethics” based on Tawhidi worldview and Islamic moral axioms.