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7 Cogito: Multidisciplinary Res. J. 77 (2015)
Criticism of Conventional Economy and of the Homo Oeconomicus Paradigm in the Philosophy of Islamic Economy

handle is hein.journals/cogito7 and id is 77 raw text is: CRITICISM OF CONVENTIONAL ECONOMY AND OF THE HOMO OECONOMICUS PARADIGM IN THE PHILOSOPHY OF ISLAMIC ECONOMY Loredana Cornelia Boyca* loredanabosca@gmail.com Abstract: A significant segment of the specialised literature developed by the Islamic economists announces the possibility of creating a new economic paradigm as a solution to the failure of the paradigm of conventional economy. In this article we are attempting to highlight the relevance of the criticsm expressed by the Islamic economists as regards the methodology of mainstream economy, as well as the basic presuppositions of various schools of Western thought about homo oeconomicus, while at the same time clarifying the Islamic perspective on the economic methodology and on the economic agent called homo islamicus. Keywords: Sunnah, Fiqh, Shari'ah, maslahah, homo oeconomicus, homo islamicus. In the discourse of Muslim theorists on the philosophical substance of economy, we find the recurring theme of degradation of the object, methodology and finality of Islamic economy, observed at the level of evolutions that transcend or betray the presumed assumed direction: that of substituting the paradigm of conventional economy. The criticism goes in a double direction: a) Islamic economy - unsuccessful analogon of the dominant Western, secular paradigm and b) unrealism of Islamic economy, under the pressure of exacerbated theological ideals. Nowadays especially, once with the development of the Islamic financial and banking system, the critical approaches of the paradigm of the dominant economy and of the epigonic Islamic economy explodes in extremely varied registers: from the pluralism of definitions and methodologies, to the conflicting assumptions regarding the rationality or typology of the economic man (homo oeconomicus versus homo islamicus). We cannot understand the genesis of contemporary Islamic economy without identifying the essential factors involved in this process: the existence of Islamic sources (the Quran and Sunnah) of Sharia'ah, of Islamic law (fiqh), but also of reformist movements that proposed, as a result of the processes of colonization, the creation of modern political and economic structures, especially in the India and Egypt of the nineteenth century, based on the ideas contained in the revealed Islamic texts. It should be noted that the Islamic reformists have also * Lecturer PhD., Department of Philosophy and Social and Human Sciences, Faculty of Management, The Academy of Economic Studies, Bucharest. ea#& - REVISTA DE CERCETARE *TIINTIFICA PLURIDISCIPLINARA 77,

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