Abstract
From the previous chapters we have come to understand that the study of Islamic political economy involves a comprehensive interactive study within and between systems using the knowledge-centred world view. In this way a number of critical forces have been invoked to explain such interactions. First there is the individual agent who, whilst endowed with freedom of will, is activated by the knowledge-driven transformation to interact with members of the community and society at large. Such interactions bring out the potential of moral-material worth in society while the self-interest of the individual is realised by this social good. One can therefore deduce that all goods are social goods and the creative order is made up of common goods. The net result of the consumption, production and distribution of common goods in society through the kind of ethico-economic general equilibrium system shown in Figure 3.1 is social well-being (Choudhury, 1990).
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© 1998 Masudul Alam Choudhury
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Choudhury, M.A. (1998). Perspectives of Institutionalism in Islamic Political Economy. In: Studies in Islamic Social Sciences. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26179-6_4
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