A systematic look at the inclusion of Islamic values in economic theories

Contemporary economics, despite its claim to be universal, cannot be an indisputable model for Islamic societies because it is based on capitalist values. For this reason, Islamic economists sought to theorize based on Islamic values. This article shows analytically that for the introduction of Islamic values in economic theories, a systematic approach should be taken and attention should be paid to the application of value in different sectors of the economy. The hypothesis of the article is that the entry of values in the theories of Islamic economics can be expressed by considering the distinction between economic goals and the structures that provide these goals in the normative economics sector favorable behavioral rules in the positive economics sector and policy recommendations in the prudential economics sector. In this way Islamic values first determine the goals of the Islamic economic system. Then in order to maintain the status quo or change it in order to achieve these values appropriate structures must be formed. Determining the optimal behavioral pattern of economic agents is the function of Islamic values in the positive economy sector. Finally, based on the accepted structure in normative economics and the model set in positive economics the necessary policies in political economy are prescribed and evaluated.