Wednesday, January 10, 2018 9:10:51 PM
Islamic Economics is not a Science

There are two sides of economics , scientific side and doctrinal side.

Scientific side is concerned with the explanation of economic life, its economic events and its economic phenomena. The economic doctrine is an expression of the way which the society prefers to follow in its economic life and in the solution of its Practical problems. However, Islamic economy according to Sadr has only one aspect that is the doctrinal side. Islamic economics is a way which Islam prefers to follow in the pursuit of its economic life and not an interpretation of the economic events.It is a part of the whole religion Islam, which organizes economic life in the same way as it deals with other aspects of life. It aims at changing a corrupt facet into a sound one and not an objective explanation of the facet. However, in order to lie down the scientific foundation of Islamic economy Sadr regards it necessary implement Islam in a society as a complete way of life.
According to Sadr, there are two ways to make a scientific explanation of the events of economic life; First, information about economic events are collected from the realistic experience of life and are arranged scientifically to make a scrutiny examination of the laws operating behind them. Second, starting a scientific research from particular admitted facts and deducing in their light the economic direction and its course of events. As for the scientific explanation in the Islamic economy on the first basis is concerned, Sadr states that it depends upon the implementation of the religion in its entirety, so that a researcher could record the actual laws operating behind these events, but anything like this is not possible for the Muslim economists because, there is not a single Islamic society where the economic life of people completely run on the guidelines of Shari‟ah.
As for the scientific explanation on the basis of the second method is concerned Sadr states that it is possible to explain thought it some of the facts of Islamic economy by starting from certain religious points and formulating in the light of them the scientific model of an Islamic economy. However, such a hypothetic explanation cannot be regarded as scientific one because; very often the actual reality is different from the hypothetical one. Moreover, the spiritual and ideological aspects of an Islamic society also have an effect in the economic life of people. Therefore, Sadr concludes that the science of Islamic economy cannot
possibility take it real birth unless it is implemented in a society which is completely based upon the principles of Shari‟ah.

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