The Material Interpretation Of The Quran: A Critique Of Two Methodological Trends In Islamic Economics

Abstract

ABSTRACT The goal of this paper is to provide a critique of two approaches in Islamic economics that share the adoption of the Quran as a principal source of knowledge; nevertheless, practitioners of these approaches are confused about how to prove the non-sensory knowledge found in the Quran when generating Islamic economic theories. This is because Islamic economists found themselves powerless to challenge the dominant theory of knowledge which conventional secular economics depends on. Consciously or unconsciously, those scholars preferred to surrender to the material explanation of the Quranic text when they tried to subject the Quran to the method of modern science and they overlooked that the Quranic revelation is a transcendental text, and cannot be explained by material means, including the scientific method.

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Keywords

epistemology ; Islamic economics ; methodology ; the Quran ; materialism

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