Top PDF Economic Thought of al Ghazali

Economic Thought of al Ghazali

Economic Thought of al Ghazali

Such linkage of various functions reaches even the Creator of the universe; the Creator – Allah – brought forth prophets who are guided by the angels (who receive their own guidance from Allah) and who reform the ‘ulama, and ‘ulama then reform the rulers who in turn must advise and guide the various economic agents and others in the society. 100 The various stages of production and linkages among the various industries require cooperation and division of labor. Al-Ghazali states, “You should know that the plants grown from the earth and the animals cannot be eaten and digested as they are. Each of them needs some transformation, cleaning, mixing, and cooking, before consumption. For a bread, for example, first the farmer prepares and cultivates the land, then the bullock and tools are needed to plough the land. Then, the land is irrigated for a period of time. It is cleared from weeds, then the crop is harvested and grains are cleaned and separated. Then, there is milling into flour before baking takes place. Just imagine – how many tasks are involved; and we here mention only some. And, imagine the number of people performing these various tasks, and the number of various kinds of tools, made from iron, wood, stone, etc. If one investigates, one will find that perhaps a single loaf of bread takes its final shape with the help of perhaps more than a thousand workers.....” 101
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Teori pertukaran dan evolusi pasar perspektif Al Ghazali

Teori pertukaran dan evolusi pasar perspektif Al Ghazali

In the development of Islamic economics, there are many figures who discuss about economic issues that sociologically helped build the theories / economic concepts one of them is Imam Al-Ghazali. The socio-economic thought of al-Ghazali is rooted in a concept he calls "the function of Islamic social welfare". Al-Ghazali asserted that economic activity must be done efficiently because it is part of the fulfillment of one's religious duties. In summary Al-Ghazali argues that to determine prices and profits must be based on the power of demand and supply and the prohibition against usury because it will transfer the function of money as a medium of exchange.
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An analytical study of al Ghazali’s thought on money and interest

An analytical study of al Ghazali’s thought on money and interest

was a versatile genius. His Scholarship extends to many diverse fields of learning. His is a holistic approach to life and an integrative approach to learning. He mixes philosophy and mysticism, religion and ethics, sociology and economics in his writings. Thus, there is no surprise if the students of Islamic thought have often differed regarding his greatest achievements. This merely attests to the richness of his thought. Al-Ghazali’s economic thought includes his discussion of economic philosophy of Islam, aims and objectives of economic activities, hierarchy of economic and non-economic needs, treatment of wealth and poverty, exchange and evolution of market, prices and profit, business ethics, hierarchy of production activities, division of labour and co-operation, socio-economic responsibilities of the state, sources of public revenue, public borrowing, imposition of additional taxes, public expenditure, difficulties of barter system, nature and functions of money, prohibition of interest, etc. The present paper has a limited scope. Out of numerous economic ideas of al-Ghazali, it concentrates on a major economic theme - his views on money and interest which represents an important part of contemporary
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The myth of Bryson and economic thought in Islam

The myth of Bryson and economic thought in Islam

resemblance between the ideas of two persons, does not necessarily mean that one has borrowed or copied from the other unless enough documentary evidence is available to that effect. History of economic thought has numerous instances when an idea mentioned by some writer in the past re-emerged later with more details and clarity. Moreover, certain ideas were developed simultaneously by different authors at different places without being aware of each other. The idea that ‘the bad money drives out good money’ known as Gresham’s law is a case in point which was mentioned by many scholars like Ibn Taymiyah (d. 1328) Nicole Oresme (d. 1382), etc., much before Thomas Gresham (1519-79) (Islahi 1988, pp. 139, 143). The idea of division of labour is another case which was explained by al-Ghazali (n.d. Vol. 4, p. 119) citing the example of a needle, analogous to Adam Smith’s famous pin-factory example seven centuries later. Another example is the theory of rent which was ‘developed separately by four writers ….. all published during Feb. 1815, Malthus, Edward West, Ricardo and Robert Torrens. This coincidence is an interesting example of how a pressing contemporary issue can call forth a theory developed independently by different people’ (Oser and Blanchfield 1975, pp. 93-94). Again, ‘marginalist school developed in several countries and through the efforts of different people working independently by each other at first …, another interesting case of new ideas arising almost simultaneously in different places and from different people” (ibid. p. 220).
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Religion, Economy, and State: Economic Thought of al Mawardi in Adab al Dunya wa al Din

Religion, Economy, and State: Economic Thought of al Mawardi in Adab al Dunya wa al Din

The view of al-Mawardi about the need for fairness in accordance with the philosophical thought of Aristotle, Plato, and the Muslim philosophers, though he does not pay attention to the division of the faculty of the human soul. Substantial differences between al-Mawardi with them about mid-position, among others: (1) He relied on the Qur'an and hadith with an important emphasis on the attitude (2) He researched a list of virtues expressed the Muslim philosopher by holding alteration and modification importantly, reduce and add the other virtues. It is an appropriate conviction that virtue can serve as a means to happiness in the hereafter. By applying the method of juridical, al-Mawardi always relativistic that virtue is an effort towards Muslim perfectly in compliance with the laws of reason and sharia, which clearly distinct from al-Ghazali who use methods with an emphasis Sufi spirit of devotion to God.
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Ibn Khaldun's Economic Thought

Ibn Khaldun's Economic Thought

The study of the economic thought of Ibn Khaldun by Muhammad Nejatullah Shiddiqy (1976) 1 , explains his contribution to the economic field, including the doctrine of values, the division of labor, the price system, the law of supply and demand, consumption and production, money, capital formation, population growth, macroeconomics of taxes and public spending, trade cycles, agriculture, industry and trade, property rights and prosperity, and so on. He also discusses the various stages that society passes in the development of its economy. he also finds the basic understanding embodied in the curved labor supply curve. Ijtihad-ijtihad Ibn Khaldun is still eternal and a reference in the development of the modern economy.
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Schumpeter and the History of Economic Thought

Schumpeter and the History of Economic Thought

Schumpeter's The History of Economic Analysis, is a tour de force of scholarship. The display of erudition is truly unbelievable. How may one man and then digested have acquired much knowledge? Not only does the History offer two thousand years of economics, from Aristotle to Paul Samuelson, But also, it expertly almost ranges over all the other social sciences, history and belles letters as well. For more that 1,100 pages on the prose flows in a way That one has come to expect from Schumpeter the fluent style, the vivid analogy, the striking metaphor, the arresting aside. Our goal is to present the main thoughts of Schumpeter on the complex relationships between Economic History and Epistemology of Science. This design has three aspects that interest us: (a) its amplitude to conceive the economy as part of the overall development of scientific knowledge; (B) its relevance and the Applied examples used by the author; (C) its methodological facing tremendous problems facing the economy with the other sciences.
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Thirty years of research in the history of Islamic economic thought:Assessment and future directions

Thirty years of research in the history of Islamic economic thought:Assessment and future directions

In 1994 Louis Baeck published ‘The Mediterranean Tradition in Economic Thought’ in which he has extensively dealt with “the Economic Thought of Classical Islam and Its Revival”, (pp. 95-124). The book surveys the Mediterranean Tradition over four millennia. Although the theme of the book is wide, it gives substantial coverage to the history of economic thought in Islam, an area generally ignored by the historians of the subject. In addition to a complete substantial and illuminating chapter on Islamic economic thought, references to Islamic and Arab scholars are scattered at various places in most of the chapters. The author admits that in most handbooks on economic thought the contribution of the Islamic scholars finds no place. (p.118). But he does not attempt to find out the reason behind it. He pays a rich tribute to Islamic scholars of the past and admits superiority of Islamic culture to its Greek and Oriental ancestors intellectually as well as in the material field. (p. 119). He puts on record the influence of Muslim scholars on Western scholastics (pp. 158, 160, 162). The author suitably highlights the importance of Ibn Khaldun’s Muqaddimah in economic literature. To him it is a piece of work which was ahead of its time. The author points out various important concepts of modern conventional economics which are found in the Muqaddimah in embryonic form (pp. 116-117). He openly acknowledges the role of Islamic thinkers in the development of scholastic economics when he says that, in the eleventh to the thirteenth centuries the Islamic symbiosis started to infiltrate the Latin West (p. 119) 24 .
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AL-GHAZALI IN LITERATURE WITH SPECIAL REFERENCE TO HIS BIOGRAPHY AND THE ISSUE OF FAITH AND GOOD DEEDS

AL-GHAZALI IN LITERATURE WITH SPECIAL REFERENCE TO HIS BIOGRAPHY AND THE ISSUE OF FAITH AND GOOD DEEDS

Daniel G. Shaw is interested in comparative eschatology in their understanding of the final estate of the blessed in the life to come based on Augustine’s De Civitate Dei (Book 22, chapters 29 and 30) and al-Ghazāli’s Iḥyā’ (Book 40, part 2, sections 13 through 19). He analyses the hermeneutic approaches of Augustine and al-Ghazāli in interpreting eschatological beliefs of “the future.” He argues that although eschatology has been long neglected by scholarship, it is far more valuable than previously thought. He suggests three assumptions; 1) that eschatological texts can offer valuable information on the central values and aspirations of certain cultures; 2) that knowledge and various contexts surrounding particular authors and their writings are important to the understanding of the texts; 3) that the most authentic texts for such an assessment are those which have been widely celebrated throughout the ages by various generations of their traditions. 74 He found that although
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The inheritance of heterodox economic thought: An examination of history of economic thought textbooks

The inheritance of heterodox economic thought: An examination of history of economic thought textbooks

The only semantic break from the general consensus occurs within the text by Spiegel who describes the work of what other authors call Post Keynesian as “neo-Keynesian,” for instance, as that work which attempts to dislodge the entrenched mainstream theory of distribution based on marginal productivity founded upon the early neoclassical work Joan Robinson (Spiegel, 1991, 669). Other disagreement with respect to the Post Keynesian group revolves around whether they are most closely aligned with the modern Austrian (Rima, 2001, 553, 561) or Radical group (Spiegel, 1991, 669; Hunt, 2002, 477-8). These discrepancies are minor and the textbook authors’ description of Post Keynesianism, when presented, consistent. Thus, the concern with respect to the adoption of different history of thought textbooks centers specifically on the historical context of the group’s development and in the semantics of its name.
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Chang Chien’s Thought on Economic Development

Chang Chien’s Thought on Economic Development

Although for a couple of years Chang Chien had been extraordinarily enthusiastic in the promotion of a con- stitutional monarchy, he changed from a constitutional monarchist to a republican within less than one month after the 1911 Revolution. Why did he change? The reasons leading to Chang Chien’s change were complicated. However, the underlying reason could be attributed to his political thought with flexibility that industry, educa- tion and self-government which were able to be achieved under whether a constitutional monarchy or a republic [12].

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Good Ruler in Political Thought of Najm Al-Din Razi

Good Ruler in Political Thought of Najm Al-Din Razi

It could be divided the courses of political thought in Iran, Islamic era (middle age) to the three main types of Shariatnameh (Jurisprudence and political speech), for instance rehabilitation of Ghazali, political philosophy (for example the votes of Farabi Utopia and Healing of Ibn Sina), and political Epistle (for example ‘’Siasatnameh’’ Nizam al- Mulk Tusi. It could be identified more miner courses beside them like political history (Beyhaqi history, and Jahangoshaie Juwayni history), political mysticism (The path of God's Bondsmen of Najm al-Din Razi or Bayan discount of Azizuddin Nasafi. Among these political thought discourses, it could be attended less the political mysticism. So, this article tries to reflect political mysticism of Najm al-Din Razi who (573-654, 1177-1256) entitle to ‘’Nurse’’ is one of the apprentice of Najm al-Din Cobra who was founded the mysticism current of “Cebroyeh”. From his most important work, it could be implied to ''The Path of God's Bondsmen: From Origin to Return,Monarat al- Saerin and Maghamat al- Taerin, Bahr al-Haghaegh and al- Maani in Tafsir al-Saab al- Masani, more over to this work, it could be implied to two treatise of wise and love (Meayar al-Sedgh in Mesdagh al-Eshgh) and Asadi's Marmoozat in Davoodi Marmoozat. Many versions from Taavilat Najmieh were entered with different names and with the name of other writers in different world libraries (Ghasem Poor, 247:1392).
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Imam Al Ghazali's views on economic activities

Imam Al Ghazali's views on economic activities

14 tradesmen will resurrect on the Resurrection Day with the truthful (as siddiiqiin) and the martyrs (as shuhadaa). In another hadith reported by al-Tabarani it is mentioned that one day, the Prophet (SAW) was seated in the mosque of Medina with his companions, when a stout and strong young man was going to his shop running by the mosque. The companions said: Alas for this young man! Had his body and health run in the way of Allah! The Prophet (SAW) then said: "Don't say like this. If this young man runs with the intent of not depending on others and refraining from begging, he is in the way of Allah. If he makes efforts for livelihood of weak parents or weak children, he is in the way of Allah. If he tries to show his health out of pride, he is in the way of devil" 11 .
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The Enlightenment of Marx’s Economic Thought on China’s Economic Reform and Construction

The Enlightenment of Marx’s Economic Thought on China’s Economic Reform and Construction

How to solve these problems, from this, the New Keynesian School, the neo-liberal school and other Western economic theories gradually entered the theoretical circle of China. But China’s economy still needs the guidance of Marx’s economic theory, which is the reality. General Secretary Xi Jinping em- phasized in the 28th collective study of the Political Bureau of the CPC Central Committee: “In the face of extremely complicated domestic and international economic situations, in the face of diverse economic phenomena, studying the basic principles and methodology of Marxist political economy is conducive to us. We master scientific economic analysis methods, grasp the laws of social and economic development, improve the ability to control the socialist market economy, better answer the theoretical and practical issues of China’s economic development, and improve the ability and level of leading China’s economic de- velopment. “...” Marxist Politics Economics is an important part of Marxism, and it is also a compulsory course for us to uphold and develop Marxism. “...” We should be based on China’s national conditions and development practice in our 2 country, revealing new features of the new law, refining and summarizing the results of regular practice of China’s economic development. Raise the prac- tical experience into a systematic economic theory and constantly open up a new realm of contemporary Chinese Marxist political economy”.
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A Historical Survey- Indian Economic Thought

A Historical Survey- Indian Economic Thought

In ancient India,Varta and Arthashastra were the two terms used for the science dealing with the subjects having large economic content.Varta has been defined as a branch of knowledge dealing with agriculture,commerce and cattle breeding.Later on ,the scope of Varta was extended to include the additional subjects of Money-lending and artisan-ship. Arthashastra,which became popular since Kautilya,covered a much wider field than Varta did.It included Kama ,Artha and Dharma as separated from Moksha. In modern terminology,Arthashastra is a combination of jurisprudence,politics and economics.Sukra defined Arthashastra as that science which describes the actions and administration of kings in accordance with the dictates of revelation and of law as well as the means of livelihood.In the ancient period ,there was no one book that dealt with all fields of economics. Different books contained different fields. For instance,production and exchange have been treated in Arthashastra and consumption and distribution are found in the Dharamshastras and in Buddhist and Jain literature's.
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Economic Legal Minds By Al Ghazali

Economic Legal Minds By Al Ghazali

According to Kurdi (2010: 8), Al Ghazali is known as a very productive Muslim scholar and many speak in various fields of science. He is known as a great theologian, philosopher, Sufi, faqih, and ushuli (expert ushul fiqh). Other than that, as previous Muslim scholars, According to Karim (2004: 281), Al Ghazali's attention to community life was not only focused on one particular area but covering all aspects of community life. Included in it is the problem of people's economic life. Some economic themes that can be extracted from al Ghazali thought, among others:
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ETHICAL PHILOSOPHY OF AL-GHAZALI: AN ANALYTICAL INSIGHT

ETHICAL PHILOSOPHY OF AL-GHAZALI: AN ANALYTICAL INSIGHT

Though a great critique of Aristotle, he adopted his logical method which had a strong appeal for him and he believed that the axioms of thought which logic laysdown are firmly established as the propositions of mathematics. LikeBradely, he begins with the principle of contradictions and applies it on the philosophical concepts. In his method of doubt and account of causality he was much advance of his time. He influenced all the later Sufis and Muslim thinkers, even IbnRushd, his greatest critique, and in modern times, the greatest Muslim philosopher poet Muhammad Iqbal.
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Economic thought of Ibn al Qayyim (1292–1350)

Economic thought of Ibn al Qayyim (1292–1350)

The third consideration in Ibn al-Qayyim's economic discourse was sadd al-dhari`ah or prevention of evil through prohibition of something which may lead to evil. That is, there are some practices which are not evil per se, But these may lead to evil, and for this reason may be a source of bad thing; therefore, they should be avoided. In the case of prohibition of riba al-fadl, Ibn al-Qayyim presents the same reason. In his hook I'lam al- Muwaqqi'in (volume 3), he said that sadd al-dhari'ah had been very important for prohibition of a number of things in the Shari'ah. In this connection, he cited many examples of which at least ten are related to economic activities. According to Ibn al- Qayyim, sadd al-dhari'ah is one fourth of the Shari'ah. He divides the whole Shari'ah into two parts: order and prohibition (al-amr wa'l-nahy). An act is ordained because either it is desirable in itself or it is a means to secure a desired object. Similarly, a thing liable to prohibition is prohibited in itself or because it may be a means to indulgence in a prohibited thing, in which case its prohibition is a precautionary measure. Thus, sadd al- dhari`ah is one-fourth of total Shari'ah. 81
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Power, knowledge and legitimacy in the political thought of Imam Mohammad Ghazali

Power, knowledge and legitimacy in the political thought of Imam Mohammad Ghazali

1- According to Ghazali's life can be summarized that Ghazali in terms of religious and political in his youth and middle age under the aus- pices of Nizam al-Mulk have done to strengthen the Shafi'i school's reli- gious policies. During the transition and succession crisis of position of caliphate have supported because of religious and political. With the rise of the Ismaili risk, Ghazali as a Shafi'i jurist religion, pro-Caliphate and trained by Nizam Almlktmamy their efforts towards the intellectual battle with Batnyan. Supporter of Ca- liphate and trained Nizam al-Mulk directed all their efforts to the intel- lectual battle with Batnyan. And cre- ate closer ties with the institution of the caliphate with the death of Khwa- ja Ghazali and even late accommoda- tions in Baghdad wrote the Al Batiniya Fazayeh book called Almo- stazhar.
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Ghazali and al-Radd Jamil: language, history and Christian theology

Ghazali and al-Radd Jamil: language, history and Christian theology

remarkably well with al-Radd’s portrayal of Jesus, who is given the right of theopathic locution, or the right to speak metaphorically in God’s place. As will be discussed below, Ghazālī shows great interest in engaging Christian language and thought for his own purposes in his authentic works. The question remains: How do we assess this alleged ‘deep’ knowledge that helped change El Kaisey-Friemouth’s view about the authorship? The picture is again complicated. A closer look at al- Radd shows that its author did not always quote John’s gospel faithfully. For instance, when he refers to John 15: 1, the author says: ‘I am the true vine, and my father is the vine-grower of each branch in me’ (p. 124). This is a distorted quotation, which the editor here does not clarify. The full verse says: ‘my father is the vine-grower; he removes every branch in me that does not bear fruit’. It is difficult to determine the reason for this partial quotation. However, this could be a sign that the author had access to the New Testament not necessarily from Christian sources, but through other distorted Islamic sources.
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