"Islamic Finance Researches" (IFR)

Analysing the Encounterance of Early Scholastic Thinkers with the Value of Money; Lessons for Islamic Economic

Document Type : Science - Research (Islamic Banking)

Authors

1 Researcher and Phd student, Economic Sciences, Faculty of Islamic Studies and Economics, Imam Sadiq University, Tehran, Iran

2 Associate Professor, Faculty of Islamic Studies and Economics, Imam Sadiq University, Tehran, Iran

Abstract

This study examines how the early scholastic thinkers dealt with the issue of the value of money and also its theoretical teachings with Analytical-library method for the study of Islamic economic. The results of this study show that money was significant for scholastic thinkers both from a moral and teleological perspectives and therefore became an analytical subject for them. Accordingly, scholastic thinkers developed three doctrines of chartalism, metalism, and combined approach in relation to the value of money. Based on the findings of this study, paying attention to the thematics of economic institutions can help in the dynamics of religious thought in the application of religious norms on new topics. Also, using the teleological method in the thematics of economic institutions provides the necessary ground for harmonizing thematics with religious norms. On the other hand, the need to pay attention to the dynamics of economic institutions over time to avoid simplification in analysis is one of the other implications of the analytical approach of school thinkers to the issue of the value of money for the study of Islamic economic.

Keywords

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Volume 12, Issue 1 - Serial Number 23
November 2023
Pages 1-28
  • Receive Date: 25 September 2021
  • Revise Date: 25 November 2021
  • Accept Date: 22 January 2022