Islamic Economics as a Counter of Conventional Economics

Introduction
In accordance with historical facts, truth and positivistic sekularistik offered by conventional economics had generated a lot of discrepancies that cause humanitarian crises. science is recognized as a free value (value free) is berprentensi to perpetuate injustice created by the owners of capital.

These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • Spurl
  • StumbleUpon
  • Technorati

Prophetic spirit of Islamic Economics

Positivism and Secularism, that was the root problems that led to the emergence of a new paradigm in the development of science today, one of which is the science of Islamic Economics. Positivism assumes that all reality is there are objects that can only be measured using a logic truth value of cause and effect (causality). Therefore, conventional economics, which stood on this philosophical foundation will consider himself free value (value free), so scientists have to keep a distance from the object observed. With this philosophy, then indirectly conventional economics has been transformed into a "guard dog" for the interests of the capitalists.

These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • Spurl
  • StumbleUpon
  • Technorati

Methodology of Islamic Economics

Definition and Objectives
There are various definitions of Islamic Economics, according to economists and Muslim intellectuals. Two of the various terms are: Islamic Economics is a social science which studies the economic problems of the people who have the Islamic values (Mannan, 1997, p. 19). Islamic Economics is the branch of science that helps to realize human welfare through the allocation and distribution of resources which are scarce in accordance with maqashid (Chapra, 2000, p. 125). However, in essence can be perceived that the science of Islamic Economics is the study of human efforts in allocating resources to meet the needs of life in ways consistent with Islamic teachings.

These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • Spurl
  • StumbleUpon
  • Technorati

Introduction to Islamic Micro Economics

Micro Economics is the application of economics in individual behavior as consumers, producers and as workers, as well as the implications of government policy to influence the behavior. While Macro Economics is the science of economics which studies the working mechanism of the economy as a whole (aggregate).

These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • Spurl
  • StumbleUpon
  • Technorati

Criticism to Time Value of Money and the Islamic Economic Solutions

Counter-concept of Time Value of Money
Islamic economic principles which have come from both the legal sources of the Koran, Hadith and Muslim scholars thought. These fundamental values underlying the Muslim economists view the birth of thought, including reviewing the functions of money in economic life. In their opinion, the functions of money there are only two, namely: 1. as a measure of prices, and 2. means of payment. The function of money as a store of value is not recognized because it was considered something close to usury. The function of money is prohibited from actually gave birth to the theory that time value of money. Corollary, Muslim economists do not agree with this concept.

These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google
  • Furl
  • Reddit
  • Spurl
  • StumbleUpon
  • Technorati