An agenda for Muslim economists : a historico-inductive approach

Abstract EN

Islamic economists preoccupation with the deductive approach needs being moderated by a greater recourse to induction, especially in discussing the role of values in the economic system.

Values have played an important role in the Christian West in the past, not withstanding the current advocacy of moral relativism.

Every social decision implies a value judgment.

Values permeate the contemporary body politic as they did in the past.

An empirical approach will, therefore, broaden the scope of Islamic economics and increase its interaction with others.