Economic solutions, systematic, political and institutional set-ups in Muslim countries cannot be independent of capitalist order. Being worsened by the seigniorage of US Dollar, “the middle-income trap” which has manifold definitions such as inevitability of traditional production styles; lack of dissemination of innovative, R&D intense and knowledge based production; and inability in coping with efficient scale economies of high-income countries and competitive production of relatively lower costs of low income countries has been aggravated by seigniorage of US Dollar. In this study, with an approach of İslamic point of view, the underpinning systematic basis of İslamic economics is being searched with a comparative analysis of capitalism which is based on dollar hegemony. With the reference to our assumption that in every society economic policies and administrative regulations cannot be differentiated from systematic and institutional basis, a multidisciplinary analysis is conducted over economics, management and related Islamic jurisprudence. Our argument is that since systematic basics of Islamic economics are valid and pervasive, its results are more congruent, logical and beneficial in providing human happiness and easing burden of worldly life. Therefore, in comparing western capitalism that centralizes worldly life in primer focus by subjugating everything that can serve material progress and capital accumulation as means of production or productive relations, with İslamic system that takes world only as a temporary place but worthwhile to the extent that it preserves life of the hereafter by subjugating whatever exist as creature means relation of which should be based on Divine consent. Hence, in İslamic order, any system cannot be valid for itself and self-sufficiency, but rather for being a tool used for humanity that search for eternal life through exerting material acquisitions and capital accumulation for the sake of real needs.
Alan : Filoloji; Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Ulusal
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