Business & Money | Economics
Methodological Dimension Of Islamic Economics
by Masudul Alam Choudhury 2020-09-14 18:23:24
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The theme of circular causation has nascent origin in the field of sociology of economics with vast development applications and with epistemological issues on modeling in the framework of the phenomenon of pervasive interconnectedness. Thus the soci... Read more
The theme of circular causation has nascent origin in the field of sociology of economics with vast development applications and with epistemological issues on modeling in the framework of the phenomenon of pervasive interconnectedness. Thus the sociological theme of epistemic unity of knowledge grounds the theory and application of the theory and models of circular causation to the vast realm of socioeconomic development issues.The theory and application of circular causation has methodological similarities with Gunnar Myrdal''s theory of social causation and Joseph Schumpeter''s and Hayek''s learning models of evolutionary phenomena. One can re-engineer many important works by sociological economists in and by the methodology of circular causation. Among these other important works are capabilities and functioning by Amartya Sen; John Rawls'' evolutionary good society aspiring for social justice; adaptation of Ilya Prigogine''s theory of being and becoming to social, economic and development phenomenon; and George Soros'' theory of reflexivity in history and financial markets. The proponent of this book has pioneered the area of theory and application of circular causation extensively. Less
  • ISBN
  • 9789813276031
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Masudul Alam Choudhury
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Professor Masudul Alam Choudhury is one of a handful of academic scholars in the field of Islamic studies with a focus on Islamic economics and finance. His work has been highly recognised in both Wes...
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