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Chapter 3 The Epistemic Universe of Islamic Economics and Finance

In: Contributions to Economic Analysis

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  • Masudul Alam Choudhury

Abstract

We commence answering the above questions first with an extension of the definition of Economy given byGerard Debreu (1959).Choudhury (1999a)has extended Debreu's formulation by introducing the learning parameter of unity of knowledge. The ethically induced economy in the light of conscious oneness is a complex relational universe of its micro-parts. These comprise prices, quantities, incomes, resources, preferences and production menus, and technological choices. These are studied in relation to multimarkets and their agents represented by vector-variables of each of the above-mentioned categories. All of these categories of the representing variables are mutually interactive according to the interactive, integrative, and evolutionary (IIE)-learning processes (explained earlier) by the medium of knowledge-flows that emanate from the episteme of conscious oneness.1

Suggested Citation

  • Masudul Alam Choudhury, 2011. "Chapter 3 The Epistemic Universe of Islamic Economics and Finance," Contributions to Economic Analysis, in: Contributions to Economic Analysis, pages 39-61, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:ceazzz:s0573-8555(2011)0000291013
    DOI: 10.1108/S0573-8555(2011)0000291013
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