Yazar : S. Othman Habshi

The Role of Ethics in Economics and Business

Neoclassical economics has divorced ethics from economics thus creating a gap. Islamic economics fills that gap. Argues that Islam’s world-View based on tawhid influences the growth of economics and society. The resulting economy is distinctly different fiom a secular materialistic economy. For Muslim economists. Based on secondary sources. Documented.

Factors Determining the Goals of the Firm

Paper presented to the seminar of the Economics Society, International Islamic University, Kuala Lumpur. Rejects profit maximisation as a goal of the firm. Thinks an Islamic firm will have multiple objectives. It would maximise falah by increasing output and reducing prices. It would equalise average cost with average revenue. It may-operate inoptimally 111 the capitalistic framework‘; but would be treated optimally in the Islamic iramework. For Muslim economists. Based on primary sources. Documented.