.(Neo-classical Economics)

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( / ) - : : - - - Siddiqui51@yahoo.com...... هذا البحث نشر باللغة الا نجليزية بعنوان: A Suggested Methodology for the Political) (Economy of Islam في مجلة جامعة الملك عبدالعزيز: الاقتصاد الا سلامي مجلد ١٤٢١ ه/ ١٣ ٢٠٠٣ م. ٨١ ( )

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١٢٠. References Arif, M. (1989) Towards Establishing the Microfoundations of Islamic Economics: The Basis of the Basics, in Ghazali, Aidit & Omar, Syed (editors), Readings in the Concept and Methodology of Islamic Economics, Pelanduk Publications, Petaling Jaya, Malaysia. Backhouse, R.E. (editor), (1994) New Directions in Economic Methodology, Routledge, London & New York. Behdad, S. (1992) Property Rights and Islamic Economic Approaches, Jomo, K.S., (Editor), Islamic Economic Alternatives: Critical Perspectives and New Directions, Macmillan Academic and Professional Ltd., London. Bell, D. and Kristol, I. (1981) The Crisis in Economics, Basic Books, Inc., Publishers, New York. Chapra, M.U. (1991) The Need For A New Economic System, Review of Islamic Economics, 1(1). Chapra, M.U. (1992) Islam and the Economic Challenge,, The Islamic Foundation, U.K., & The International Institute of Islamic Thought, USA. Dow, S.C. (1985) Macroeconomic Thought, Oxford: Basil Blackwell. Greenaway, David, Bleaney, Michael and Stewart, Ian M.T. (editors), (1991) Companion to Contemporary Economic Thought, Routledge, London & New York. Harcourt, G.C. and Hamouda, O. (1988) Post keynesianism: From criticism to coherence? Bulletin of Economic Research, 40(1), Iqbal, Munawar (editor), Distributive Justice and Need Fulfillment in an Islamic Economy, International Institute of Islamic Economics, Islamabad and The Islamic Foundation, Leicester, U.K. Jomo, K.S. (editor), (1992) Islamic Economic Alternatives: Critical Perspectives and New Directions, Macmillan Academic and Professional Ltd., London. Kahf, M. (1989a) Islamic Economics and its Methodology, in Ghazali, Aidit and Omar, Syed (editors), Readings in the Concept and Methodology of Islamic Economics, Pelanduk Publications, Petaling Jaya, Malaysia. Kahf, M. (1989b) Islamic Economic System: A Review, in Ghazali, Aidit & Omar, Syed (Editors), Readings in the Concept and Methodology of Islamic Economics, Pelanduk Publications, Petaling Jaya, Malaysia. Khan, M.A. (1989) Methodology of Islamic Economics, in Ghazali, Aidit & Omar, Syed (editors), Readings in the Concept and Methodology of Islamic Economics, Pelanduk Publications, Petaling Jaya, Malaysia. Kuran, T. (1992a) The Economic System in Contemporary Economic Thought, in Jomo, K.S. (Editor), Islamic Economic Alternatives: Critical Perspectives and New Directions, Macmillan Academic and Professional Ltd., London. McCloskey, D.N. (1985) The Rhetoric of Economics, The University of Wisconsin Press, Madison, Wisconsin, USA. Oakley, A. (1994) Classical Economic Man: Human Agency and Methodology in the Political Economy of Adam Smith and J.S. Mill, Edward Elgar Publishing Co. O'brien, D.P. (1991) Theory and Empirical Observation, in Greenaway, David, et al., Companion to Contemporary Economic Thought, Routledge, London & New York.

١٢١ Oser, J. and Brue, S.L. (1988) The Evolution of Economic Thought, fourth edition, Harcourt Brace Jovanovich Publishers. Samuels, W.J. (1992) Essays on the Methodology and Discourse of Economics, The Macmillan Press Ltd., London. Siddiqui, S.A. (1994a) Some Controversies in Contemporary Macroeconomics: An Islamic Perspective, Review of Islamic Economics, 3(1). Siddiqui, S.A. and Fardmanesh, M. (1994b) Financial Stability and a Share Economy, Eastern Economic Journal, USA, Spring. Stigler, G.J. (1987) Essays in the History of Economic Thought, University of Chicago Press, Chicago. Zarqa, A. (1989) Islamic Economics: An Approach to Human Welfare, in Ghazali, Aidit and Omar, Syed (editors), Readings in the Concept and Methodology of Islamic Economics, Pelanduk Publications, Petaling Jaya, Malaysia.

١٢٢ A Suggested Methodology for the Political Economy of Islam Shamim Ahmad Siddiqi Assistant Professor Department of Economics University of Brunei Darussalam, Brunei Abstract. In this paper an attempt is made to clarify some of the issues pertaining to the methodology of Islamic economics. It is argued that for any analysis in the context of Islamic economics, the behavioral norms suggested by the teachings of Islam should not be taken as the actual behavior of individuals in a Muslim society. Rather, it should be one of the goals of economic policies to provide a social environment which would help the inhabitants of a Muslim society to behave in an Islamically desirable way. In this regard, the importance of distribution of income and wealth is highlighted. Another focal point of this paper is that Islamic economists should be more heedful in their criticism to neoclassical economics. It is noted that a familiarity with the critical literature on neoclassic economics emanating from within the western world may provide important insights that could be helpful in finding our own solutions. Finally, to study those aspects of economics which are primarily positive in nature, the case for methodological pluralism is advocated.