An Introduction to Islamic Economics (Baraka Economics)

This paper is aimed at suggesting that Islamic economics be founded in the new framework of "Baraka economics". Baraka Economics is a science that deals with discovering the causes of and impediments to the sustainable growth of the material gifts necessary for humane society's prosperity on the basis of the ontological, epistemological and value foundations of Islam, and accordingly describes and analyses the societies and supplies strategies for the sustainable growth of material gifts. Gifts are whatever things useful for the prosperity of human beings that lead to their tranquility, convenience and pleasure in their this-worldly and other-worldly lives. Abundant and sustainable gift is calledBaraka. The causes of and impediments to the growth of gifts are people's deeds of hearts and limbs. The functions of this science are as follows: 1. describing the conditions of the society under scrutiny regarding benefiting from gifts, 2. explaining the described situation by stating its causes, 3. anticipating about the society's future situation regarding the extent of benefiting from gifts, and 4. suggesting solutions for the society's reaching the increasing and sustainable growth of gifts. The rules of this science can be stated as if "A", then "B". In this conditional theorem, the antecedent, that is "A", is a deed of heart like faith or of limbs like piety of the individuals or the society, and the consequent, that is "B", states increasing or decreasing of gifts. This science's rules are inferred from Quran's verses and the Rawayahs with the aid of reason. Moreover, one must use the indexing method for applying these rules on different societies and for reaching the aims of describing, explaining,