The Economic Problem Between Positive (Conventional) Systems and Islamic Economic Thought: A Comparative Analytical Study

Abstract

This research aims to conduct an analytical comparison between the treatment of the economic problem in conventional systems and Islamic economic thought, highlighting similarities and differences while emphasizing the ability of Islamic economics to provide fairer and more sustainable solutions in the face of recurring global crises . The study adopts a comparative analytical methodology that combines theoretical foundations with practical applications, employing the Sharia-based approach to analyze the Islamic perspective rooted in resource abundance and distributive justice . It also utilizes case studies, such as the 2008 global financial crisis, to illustrate practical implications . The findings reveal that conventional thought is built on the assumption of scarcity, addressing the economic problem through production and distribution tools, yet remaining confined to a materialistic outlook that prioritizes efficiency over justice . In contrast, Islamic economics identifies the problem as misdistribution and lack of fairness, offering practical solutions grounded in solidarity and social justice through mechanisms like zakat, waqf, and the prohibition of usury and monopoly . Empirical evidence shows that countries adopting Islamic tools demonstrated relative resilience in financial crises and achieved greater social stability compared to those relying solely on conventional systems . The study recommends strengthening applied research that bridges Islamic theory with practice, integrating instruments such as zakat, waqf, and sukuk into national economic policies, and fostering economic integration among Islamic nations to enhance intra-trade and reduce dependency on major economies . It also calls for advancing education and scientific research to highlight the advantages of Islamic economics and expand its application.