INTERACTIVE PREFERENCES FIELDS IN IPE
This is a shortened version of a paper now appearing in the
Proceedings of the Pakistan Academy of Sciences, Vol.34, 1996.
The preference field of Islamic political economic order is premised in agent-agent interactions and integrations that are pervasive across agents, systems and thought. Contrary to this, mainstream economic theory and its prototype in institutionalism, are premised on preference formation based on methodological individualism. This major difference between the two systems of life and thought is deeply and inextricably an epistemological one. Each derives its source of knowledge and conduct of life and thought based on these distinctive epistemologies and the principal sources they individually adhere to. In Islam these sources are the Qur'an, Sunnah and Ijtehad. In the occident the source is sheer reason and rationalism of the vagrant human praxis.
Inferences Derived from Occidental Epistemology in the Social Sciences Comparative Perspective: Attributes of Islamic Worldview in the Social Sciences |
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