In my exploration of Islamic thought, I’ve encountered a recurring issue in the historical literature on Islam dating back to the seventeenth century: a pervasive bias and hostility toward Islam, as noted by Iqbal (1930). Particularly, when searching for literature on the intersection of prosperity and Islam, I discovered limited sources, with most assuming prosperity to be synonymous with material wealth (Raimi, 2018). Moreover, some of the literature addressing the concept of prosperity in Islam is available in languages such as Arabic and Urdu. While not extensively using the term prosperity, many scholars have approached the expansive subject of human purpose in Islam (Ahmed, 2001; Armstrong, 2013; Barlas, 2002; Beekun & Badawi, 2005; Chapra, 1992; Choudhury & Hussain, 2005; Esposito, 1991; Hosein, 1997; Naqvi, 1994). This highlights a significant gap in academic literature concerning the specific construct of prosperity within the context of Islam.
My research seeks to bridge the existing gap by conducting an in-depth linguistic analysis of the Qur’an, the sacred text of Islam, in order to extract insights related to the concept of prosperity. I must acknowledge that I have just begun to explore this extensive undertaking. Nonetheless, my work aims to reveal Qur’anic perspective on prosperity and assess its relevance.
This thematic paper critically evaluates the contemporary secular economic system while exploring prosperity from a Qur’anic standpoint. I juxtapose Islamic concepts of prosperity with secular theoretical frameworks, drawing from an early Islamic ethos to establish a foundation for Universal Prosperity (UP). My research delves into both secular and theological concepts as complementary themes, aiming to uncover relationships between scientific, quantitative approaches firmly grounded in empiricism (Ferraro et al., 2015), and more abstract, qualitative paradigms rooted in divinity, faith, and belief (Collins, 2007). Through this exploration, I intend to reveal a source of epistemic influences (Dougherty, 2017) that can conceptualise for radical re-evaluation of prosperity (Moore & Mintchev, 2021).
Arguably, contrary to Hawken’s perspective, as cited by (Ferraro et al., 2015), this paper posits the monotheistic framework as a central, unifying ideology for a meta-dimensional social justice movement capable of holistically addressing Grand Challenges (GCs).
Outline
This dissertation is organised into six distinct sections, each contributing to a comprehensive understanding of the research objectives.
First, I examine the modern-contemporary context through a comprehensive review of relevant literature. And explore the antecedents that shaped the current economic system and socio-cultural thinking. Second, I do a historical overview of Islam, tracing its development from its early ethos and contemporary interpretations. I draw distinction between contemporary Islamic concepts and the foundational principles of early Islam.
Third, I contextualise the Qur’anic thinking for transformative change.
Fourth, I develop a model for UP, and dwell into constitutes of prosperity pathways for comparison purposes. I identify and analyse three distinct pathways to prosperity: econometric-focused, holistic-focused, and divine-focused UP. Fifth, I explore the dimensions that constitute the UP path, providing a detailed examination of its components, showcasing its practical implementation and outcomes.
Finally, in the Discussion section I explore integration of the practical and theoretical dimensions of UP and reflect on the implications of the research findings for future studies and applications. I propose using UP as a lens for analysing various subjects and its potential to contribute to radical collective prosperity.
Aim and Objectives
The primary aim of this dissertation is to investigate the interconnectedness of Islamic concepts and their relationship with the notion of prosperity. It seeks to generate profound insights and identify thematic challenges within the contemporary context. This research aims to bridge the gap between scientific and mystical approaches, exploring a unique pathway to understanding prosperity.
To achieve the overarching aim, the objectives have been to conduct a comprehensive examination of Islamic concepts and their historical development, differentiating between contemporary interpretations and early Islamic principles. Use theoretical frameworks to draw comprehensive analysis of the multifaceted dimensions that contribute to prosperity, encompassing institutions and ecosystems. Identify and analyse distinct pathways to prosperity, including econometric-focused, holistic-focused, and divine-focused approaches. Construct a model for UP by integrating diverse pathways and dimensions of prosperity found within Islamic epistemology. Investigate the multifaceted dimensions that constitute the UP model and empirically assess its applicability and outcomes. Inferring from prophecy, explore the potential synergies between scientific and mystical epistemologies within the context of Islamic thought, seeking to create a comprehensive understanding. And address the central research question:
How does a Qur’anic epistemology contribute to the development of a comprehensive model for predicted universal prosperity?
Rationale and Background
The approach to addressing GCs in academic discourse often involves a combination of theory and action, with a focus on complex subjects that can be distilled into actionable inputs. For instance, strategies may involve leveraging innovation and entrepreneurship to combat global malnourishment or optimising socio-economic factors such as national resource allocation and consumption patterns. Typically, these strategies are capital-dependent, with the industrial sector (Esquivel, 2016) playing a pivotal role in achieving complementary development objectives linked to the mitigation of GCs. Resulting in stakeholders often balancing priorities between private and collective gains.
It is crucial to approach this exploration with cultural sensitivity and a profound understanding of Islamic principles, practices, and historical contexts. The monotheistic worldview within Islam considers economic development as a subset of broader socio-economic and environmental aspects (Aḥmad, 1994). By identifying critical intervention points as defined by (Meadows, 1999) within this system, the Qur’an unveils underlying causal factors that give rise to the complexities of GCs (Waddock et al., 2015).
For example, in contrast to secular institutions and agents who often employ a pragmatist theoretical approach in addressing problems and seeking solutions as per Whitford, as cited by (Ferraro et al., 2015), the Qur’an directly confronts issues related to interest-based financial systems (Qur’an 2:275; 3:30; 4:161), which it views as a significant contributor to modern societal oppression. This view is compounded by the presence of speculative fictitious monetary system (Pettifor, 2017) and the prevalence of debt-based market societies (Ahmed, 2010). A perspective shared by colonised nations grappling with the implications of financial enslavement (Mbembe & Dubois, 2017). The Islamic belief system advocates for socio-economic well-being as a foundation for inclusive financial prosperity (Harker & Horton, 2022).
One pertinent question that emerges from this discussion is why a monotheistic approach is relevant in an age characterised by ‘innovism’ (McCloskey & Silvestri, 2021). This question can be best addressed by synthesising epistemic sources as articulated by secular scholars and prophesied within Islam’s eschatological framework (Shoemaker, 2014).
Approach to Research
This paper employs a qualitative analysis methodology to delve into its overarching theme, embracing the realm of interpretative social sciences (Neuman, 1997). The research involves a meticulous analysis of diverse schools of thought relevant to the topic, spanning from epistemology and philosophy within the social sciences to pragmatic examinations of historical, and economic systems. The foundation for engaging with these concepts lies in the context of a theological monotheistic system, as defined by the Qur’an, extending from the dawn of civilisation through the early Islamic ethos to the contemporary era.
This paper adopts a unique ontological approach by exploring scholarship from an Islamic perspective. To establish contextual relevance, the study draws insights from the field of organisational management and social sciences (Adair-Toteff, 2016), particularly as they relate to contemporary landscapes characterised by innovation and entrepreneurship. The choice of interpretive qualitative methodology is driven by several factors. Firstly, the intertwined and transdisciplinary nature of the research challenges makes it challenging to examine these themes in isolation. Qualitative methods are best suited to unravel the complexities and interrelations within the system (Patel & Mehta, 2017). Additionally, these themes often lack quantitative data, given their philosophical and comprehensive nature.
The Qur’anic understanding serves as the foundation for analysis. Using Giddens’ structuration theory, as presented by Tlaiss & McAdam (2021), facilitates the exploration of the dynamic relationships between agency and systems and their properties within structural systems, allowing for the convergence of abstract epistemic sources. Further, I elaborate the thinking of the Qur’anic perspective using Theory U by Scharmer (2018), which addresses complex change using insight. To provide an empirical perspective, the study incorporates the Multi-Level Perspective (MLP) framework, which assists in situating concepts within different system levels for more comprehensive analysis (Geels, 2019).
The research draws on a wide range of literature, including documented scriptures, to capture critical historical philosophies and integrate them into mainstream scholarship. Islamic concepts are primarily derived from interpretations of the Qur’an and Hadeeth (literature on sayings, actions, and approvals of Muhammad PBUH). It’s worth noting that the historiography of Islamic scholarly literature has been a subject of dispute among Western secular scholars and Islamic scholars, with further differences arising between sects of Sunni and Shia. To establish a unified religious standpoint, this study considers the Qur’an as the core source, supplemented by documented accounts of Muhammad’s (PBUH) life and his companions, for the purpose of justifiable verification. This critical analysis is further enriched by seminal works from contemporary Islamic scholars who hold prominence in both Islamic and Western academia, such as Fazlur Rahman (1958) and Muhammad Iqbal (1930).