Abstract
This paper attempts to view at the development of Islamic thought in the study of economics and economic growth. In particular, it attempts to explore the similarities and differences between Islamic ideas about economics and to construct economic growth thought and how it used to bridge the gap. The analysis starts from Muslim thought Ibn Khaldun, Al-Ghazali and Ibn Taymiyyah. In addition, the study looked at how the views of classical Islamic scholars had entered into the idea of economic growth. Suggestions will be made on how the gap can be bridged or made closer to contemporary economic thought and economic direction of the country’s future.
Highlights
Most discussion of the economic growth model refers to the idea and model of the neoclassical school, for example Sollow models, which bases its economic growth thought to factors such as the accumulation of capital and depreciation, labor and population growth, and technological advances inherent in labor, and may be some other ideas that come from a similar classical thought, say for example in conventional economic thinking
Nejatullah Muhammad Siddiqi (1992) in his book Reading on Islamic Economic mentioned the name of al-Ghazali in a row of the Muslim economic thinkers together with Ibn Taymiyya, Ibn Khaldun and other figures
Complexion of Islamic economic thought at that time focused on micro-economic analysis and the functions of money
Summary
Most discussion of the economic growth model refers to the idea and model of the neoclassical school, for example Sollow models, which bases its economic growth thought to factors such as the accumulation of capital and depreciation, labor and population growth, and technological advances inherent in labor, and may be some other ideas that come from a similar classical thought, say for example in conventional economic thinking. Other reasons which became the basis study of ideas and their thought are caused by the differences epistimologi of thoughts and ideas of the classical Muslim scholars, which they based on the values and morals that comes from revelation, besides the reality condition that occurs in a positive They provide a comprehensive thought, linking the economic aspects to the non-economic aspects, for example social and political aspects of society, and other aspects of it, especially trying to relate the physical and nonphysical aspects and values of divinity with the idea of economic growth, not just for this life and physical material and spiritual life and the hereafter as well as non-physical. This paper wants to point out that Ibn Khaldun is the father and economists who preceded Adam Smith, Ricardo and other European economists
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