Seyed Abbas Mousavian: Difference between revisions
| Line 46: | Line 46: | ||
Some of Seyed Abbas Mousavian’s foundational views concerning Islamic economics are as follows: | Some of Seyed Abbas Mousavian’s foundational views concerning Islamic economics are as follows: | ||
=== Distinction between the Islamic Economic System, the Islamic Financial System, and Economic | === Distinction between the Islamic Economic System, the Islamic Financial System, and Economic Fiqh === | ||
According to Mousavian, | According to Mousavian, there are three distinct concepts in Islamic economics literature: “Islamic economic system,” “Islamic financial system,” and “economic Fiqh.” | ||
* | * Islamic economic system is a system intended to establish public welfare on the basis of Islamic principles. According to Mousavian, to achieve public welfare as its ultimate objective, the Islamic economic system requires three intermediate objectives: economic justice, economic security, and economic growth and development.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, pp. 5-10.</ref> | ||
* | * Islamic financial system is a subsystem of the Islamic economic system responsible for financing (through the creation of Islamic financial instruments) and reducing the risk involved in transactions.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, pp. 5-10.</ref> | ||
* Economic | * Economic Fiqh explains the rulings governing property and the related issues in the three fields of production, distribution, and consumption; this discipline includes deducing prescriptive rulings (such as the ruling on [[Riba]]) or declaratory rulings (such as the transfer of property) on financial and economic conduct and relations.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, pp. 12-20.</ref> | ||
On this basis, in the [[Foundations of Islamic Finance (book)| | On this basis, in the book [[Foundations of Islamic Finance (book)|Foundations of Islamic Finance]], Mousavian establishes four key fundamental components for Islamic economic system and its associated subsystems: | ||
# Islamic doctrinal and theological foundations, including | # Islamic doctrinal and theological foundations, including fundamental Islamic worldviews concerning God, existence (being), humanity, and society. | ||
# Positive and negative divine traditions governing human societies, based on felicity and proximity to God or wretchedness and remoteness from Him; such as the effect of the traditions of Godwariness and gratitude on the economic life of Islamic societies.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, p. 15.</ref> | # Positive and negative divine traditions governing human societies, based on felicity and proximity to God or wretchedness and remoteness from Him; such as the effect of the traditions of Godwariness and gratitude on the economic life of Islamic societies.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, p. 15.</ref> | ||
# Economic ethics, defined in three areas: the relationship between the human being and God, the relationship between the human being and property, and the relationship between the human being and other human beings. These ethics are founded on immaterial causal relationships and divine traditions and affect the livelihood of individuals and society through immaterial and incalculable means. Ethical economic conduct (in a form outside the framework and principles legally established for it) contributes to the overarching objectives of the Islamic economic system, with functions and outcomes such as poverty alleviation, development, security, and economic justice.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, pp. 17-19.</ref> Although recommended rulings are jurisprudential, Mousavian classified them under economic ethics.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, p. 20.</ref> | # Economic ethics, defined in three areas: the relationship between the human being and God, the relationship between the human being and property, and the relationship between the human being and other human beings. These ethics are founded on immaterial causal relationships and divine traditions and affect the livelihood of individuals and society through immaterial and incalculable means. Ethical economic conduct (in a form outside the framework and principles legally established for it) contributes to the overarching objectives of the Islamic economic system, with functions and outcomes such as poverty alleviation, development, security, and economic justice.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, pp. 17-19.</ref> Although recommended rulings are jurisprudential, Mousavian classified them under economic ethics.<ref>Mousavian and Tavhidi, Foundations of Islamic Finance, p. 20.</ref> | ||