Economics for the 21st Century: Launching a Revolution in Teaching Economics

On Friday afternoon, 8th February 2019,I gave a talk at the Ibn-e-Haldun University, Istanbul, with the above title.

The talk starts by discussing the central problem that faces the Ummah: How we can understand and implement the teachings of Islam in our modern lives? In particular, does Islam provide us with knowledge which is relevant to the modern disciplines like Economics, Politics, Anthropology, Psychology, Sociology, etc.? It seems to us today that the Quran and Hadeeth do not provide much relevant knowledge about these matters, and hence we must look to the West, where these Uloom were developed, for guidance. But this seems to contradict the claim of the Quran that it contains complete and perfect guidance — How can we resolve this apparent contradiction? This talk explains how what the West calls knowledge is actually an illusion of knowledge, while the real knowledge is contained in the teachings of the Quran.

For some related posts see the following:   The Heart and Soul of Islamic Economics : This explains how Western economics is built on a misconception about the nature of man. In particular, man has only a brain, and has no heart and soul — homo economicus. This is a fundamental mistake about the nature of man. The entire building of modern economics is built on this misconception, and because of these wrong foundations, the entire discipline is wrong. For sayings of major economists which confirm these major flaws in the foundations of economics, see “Quotes Critical of Economics.” See also:  Blanket Rejection of Economics , and  Building New Foundations for Economics . For an outline of an alternative, see:  Foundations for Islamic Economics .