By Maher Kababji
Abstract
Fallacies are the root of the technique of thinking in economics. By the lapse of time theses fallacies have been blindly accepted as if they represent a part of the natural life which people have to live with. The outcome is that present economic systems failed to realize prosperity. This paper aims to highlight the pitfalls in economic thinking, introduce the basic concepts of Islamic economic system, and present an integrated economic system in light of the Holy Qur’an and the sayings of the Prophet (Pbuh).
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