ToR – The Second Pre-Conference Seminar of IC-THuSI 2016

Terms of Reference

The Second Seminar of Pre-ConferenceTHuSI 2016

The Notion of Development and Social Justice in Islamic Economics

Jakarta, 3 May 2016

Background

In contrast to the popular mainstream idea that Islamic Economics is more and less similar to the conventional economics system (capitalism) minus usury (riba) plus alms (zakat), we argue that Islamic Economics is primarily characterized by its own way of thinking as well as its basic notions on life and values. Islamic economics has own philosophical foundations on the universe, man, and God particularly His relation to the universe and human beings.

Social justice and development are among the important issues addressed by Islamic economists (scholars). Mohammad Baqir Sadr, for example, considers social justice as one of three main principles of the general structure of Islamic economics (Iqtiṣādunā – Our Economics, 1971). While two other principles, i.e., ownership and economic freedom can be put under the issue of development. For Abu al-A‘la Mawdudi, the idea of economic justice is closely interconnected to the Islamic moral virtues and religious political system (First Principles of Islamic Economics, 2011).

The growing and endless tension in the prevailing economic condition of the contemporary world between the developed countries/societies and the underdeveloped countries/societies has been always sparking the classic issue on the relation between “development” and “social justice”. It is comprehended pervasively that these two ideas are contrary each other or at the best they are independent each other. More and more scholars today come to endorse the idea that capitalist economic system – a social system based on the recognition of individual rights in which all property is privately owned and capital accumulation (Ayn Rand, Capitalism, 1970) – inherently and inevitably contains seeds of conflict between the private and the public, between the have and the poor. It means that capitalism will never address the constructive model between development and social justice.

How does Islamic economics deal with the issue of development and social justice? Does Islamic economics have principles and model of development being able to adopt social justice simultaneously and systematically? What are the foundations of Islamic economics addressing the constructive interaction between the private and the public properties? Which is the main priority of Islamic economics dealing with the development-progressive approach and the social justice perspective? What are the main and crucial contributions of Islamic economics in encountering the existing global economy crisis and malaise?

Objectives:

This second pre-conference seminar is aimed:

  1. To explain the foundations and principles of Islamic economics addressing the issue of development and social justice
  2. To delineate the capacity of Islamic economics in dealing with the economic development and social justice simultaneously
  3. To identify and resolve the actual problems in Muslim societies and world related to the economic development and social justice
  4. To explore the contributions of Islamic economics principles to the global economic crisis and malaise

 Sub-themes:

  1. The Principles of Islamic Economics in the Quranic Perspective on the Development and Social Justice
  2. The Potential Contributions of Islamic Economics to the Global Economic Condition related to the Development and Social Justice
  3. The Analysis of the Existing Problems of Development and Social Justice in the Muslim World and Societies

 Speakers:

  1. Prof. Dr. Seyyed Mofid Hoseini Kouhsari, The Principles of Islamic Economics in the Quranic Perspective on the Development and Social Justice
  2. Prof. Dr. Firmanzah, The Potential Contributions of Islamic Economics to the Global Economic Condition related to the Development and Social Justice
  3. Dr. Ahmad Rifai-Hasan, The Analysis of the Existing Problems of Economic Development and Social Justice in the Muslim World and Societies

 Respondents:

  1. Dr. Edi Arno, M.Hum
  2. Dr. Sunaryo

 Time and Place

  • Tuesday, 3 May 2016  at 10.00 – 13.00
  • Auditorium Paramadina University, Jl. Gatot Soebroto, Jakarta Selatan.