The Time Factor – Toshihiko Izutsu and Islamic Economic Tradition
DOI:
https://doi.org/10.4312/as.2018.6.1.55-71Keywords:
Toshihiko Izutsu, time, money, Islamic economic thoughtAbstract
This paper interrogates the notions of time and money in Islamic (economic) tradition by applying Toshihiko Izutsu’s theory of the key terms of a worldview. A Japanese scholar of Islam, Toshihiko Izutsu (1914–1993), wrote extensively on Islamic studies, eastern mystical traditions, and Sufism. His theory of key ethical concepts in the Qur’an is a semantic analysis of an Islamic worldview, which can be applied also more specifically to economic thought in Islamic tradition. Applying Izutsu’s theory would shed light on the main ethico-economic concepts and postulates in Islamic intellectual history, such as the notions of time, money, and commodity purchases, as well as their relation to man as a time-contingent being. As well as the introduction and conclusion, this paper is divided into three main parts. In the first part, I introduce Izutsu’s life and his semantic theory. The second focuses on Islamic economics and its relation to Sharī‘a as a moral concept, whereas the third part inquires more specifically upon the notion of time and money in classical and contemporary Islamic economic thought.
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References
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Izutsu, Toshihiko. 1964. God and Man in the Qur’an. Tokyo: Keio University.
———. 1983. Sufism and Taoism: A Comparative Study of the Key Philosophical Concepts. Berkeley: California University Press.
—–––. 1994. Creation and the Timeless Order of Things. Ashland, OR: White Cloud Press.
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—–––. 2007. The Concept and Reality of Existence. Petaling Jaya: Islamic book trust.
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———. 2002. “Fiqh Foundations of the Theory of Islamic Economics: A Survey of Selected Contemporary Writings on Economics Relevant Subjects of Fiqh.” In Theoretical Foundations of Islamic Economics, edited by Habib Ahmed, 59– 86. Jeddah: The Islamic Development Bank, Islamic Research and Training Institute.
Khir, Mohamed Fairoooz Abdul. 2013. “The Concept of the Time Value of Money: A Shari‘a Viewpoint.” International Journal of Islamic Banking & Finance 3 (2): 1–15.
Kuran, Timur. 2004. Islam and Mammon: The Economic Predicaments of Islamism. New Jersey: Princeton University Press.
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Naqvi, Seyed Nawab Haider. 1994. Islam, Economics, and Society. London and New York: Kegan Paul International.
Ouda, Jasser. 2012. Maqāsid al-Sharī‘a. Herndon, VA: IIIT.
Rahman, Fazlur. 2002. Islam. Chicago and London: University of Chicago Press.
Reinhart, A.K. 1983. “Islamic Law as Islamic Ethics.” The Journal of Religious Ethics 11 (2): 186–203.
Saadallah, Ridha. 1994. “Concept of Time in Islamic Economics.” Islamic Economic Studies 2 (1): 81–102.
Tripp, Charles. 2006. Islam and Moral Economy. Cambridge: Cambridge University Press.
Walras, Léon. 1926. Éléments d›économie politique pure, ou théorie de la richesse sociale. Paris, Lausanne: R. Pichon et R. Durand-Auzias, F. Rouge, Libraire-editeur.
——. 1985. Secularism and the Philosophy of Future. London, New York: Mansell. Al-Daghistani, Sami. 2014. “Premišljanja o realnosti, absolutu in popolnem človeku – Izutsujevi pogledi na sufizem in daoizem.” Poligrafi Mistika in Misel 71/72: 267–88.
——. 2016. “Semiotics of Islamic Law, Mas�lah�a, and Islamic Economic Thought.” International Journal of the Semiotics of Law 29 (2): 389–404. al-Faruqi, Isma’il. 1982. Islamization of Knowledge. Herndon, VA: IIIT.
——. 1989. “Toward a Critical Word Theology.” In Toward Islamization of Disciplines: Proceeding and Selected Paper of the Third International Conference of Islamization of Knowledge hel in Kulal Lumpur, Malaysia, 409–54. Herndon, VA: IIIT. al-Ghazālī, Abu Hamid. N.d. Ihyā’. Beirut: Dār al-Nadwah.
——. 2001. Kimiya-yi Sa’ādat, translated by Muhammad Asim Bilal. Lahore: Kazi Publication.
al-Muhāsibī. 1987. Al-Makāsib wa al-Wara‘. Beirut: Mu’ssasa al-kutub al-thaqāfiyya.
Aydin, Necati. 2013. “Redefining Islamic Economics as a New Economic Paradigm.” Islamic Economic Studies 21 (1): 1–34.
Azhar, Rauf. 2009. Economy of an Islamic Economics. Leiden: Brill.
Chittick, C. William. 2007. The Essential Seyed Hossein Nasr. Bloomington, Indiana: World Wisdom.
Choudhury, Alam. 1994. “A Critique of Modernist Synthesis in Islamic Thought: Special Reference to Political Economy.” American Journal of Islamic Social Sciences 11 (4): 475–503.
——. 2013. “Toward Islamic Political Economy.” American Journal of Islamic Social Sciences 13 (3): 366–81.
Crone, Patricia. 2004. Meccan Trade and the Rise of Islam. New Jersey: Gorgias Press.
Ghazanfar, Mohammad, and Abdul Azim Islahi. 1997. Economic Thought of Al-Ghazali. Jeddah: Scientific Publisihing Centre King Abdulaziz Univesity.
Haneef, Mohamed Aslam, and Hafsa Furqani. 2009. “Ethical Foundations of Islamic Economics.” Intellectual Discourse 17 (2): 173–99.
Ibn, Taymiyyah. 1963. Majmu’ Fatāwa Shaykh al-Islām Ahmad. Al-Riyad: Matābi’ al-Riyād.
——. 1976. Al-Hisba fī al-Islam. Cairo: Dār al-Sha‘b.
Islahi, Abdul Azim. 2005. Contributions of Muslim Scholars to Economic Thought and Analysis. Jeddah: Islamic Economics Research Center, King Abdulaziz University.
Izutsu, Toshihiko. 1964. God and Man in the Qur’an. Tokyo: Keio University.
———. 1983. Sufism and Taoism: A Comparative Study of the Key Philosophical Concepts. Berkeley: California University Press.
—–––. 1994. Creation and the Timeless Order of Things. Ashland, OR: White Cloud Press.
—–––. 2002. Ethico-religious Concepts in the Qur’an. Montreal & Kingston: McGill-Queen’s University Press.
—–––. 2007. The Concept and Reality of Existence. Petaling Jaya: Islamic book trust.
–—––. 2008. “Toshihiko Izutsu’s life and work.” Accessed August 20, 2017. http:// www.worldwisdom.com/public/authors/Toshihiko-Izutsu.aspx.
Hallaq, Wael. 2013. The Impossible State. New York: Columbia University Press.
Kamali, Mohammad Hashim. 2008. Shari‘ah Law: An Introduction. Oxford: Oneworld Publications.
Khan, Muhammad Fahim. 1991. “Time Value of Money and Discounting in Islamic Perspective.” Review of Islamic Economics 1 (2): 35–45.
———. 2002. “Fiqh Foundations of the Theory of Islamic Economics: A Survey of Selected Contemporary Writings on Economics Relevant Subjects of Fiqh.” In Theoretical Foundations of Islamic Economics, edited by Habib Ahmed, 59– 86. Jeddah: The Islamic Development Bank, Islamic Research and Training Institute.
Khir, Mohamed Fairoooz Abdul. 2013. “The Concept of the Time Value of Money: A Shari‘a Viewpoint.” International Journal of Islamic Banking & Finance 3 (2): 1–15.
Kuran, Timur. 2004. Islam and Mammon: The Economic Predicaments of Islamism. New Jersey: Princeton University Press.
Mawdūdī, Sayyid Abul A‘lā. 2011. First Principles of Islamic Economics. Leicestershire: The Islamic Foundation.
Naqvi, Seyed Nawab Haider. 1994. Islam, Economics, and Society. London and New York: Kegan Paul International.
Ouda, Jasser. 2012. Maqāsid al-Sharī‘a. Herndon, VA: IIIT.
Rahman, Fazlur. 2002. Islam. Chicago and London: University of Chicago Press.
Reinhart, A.K. 1983. “Islamic Law as Islamic Ethics.” The Journal of Religious Ethics 11 (2): 186–203.
Saadallah, Ridha. 1994. “Concept of Time in Islamic Economics.” Islamic Economic Studies 2 (1): 81–102.
Tripp, Charles. 2006. Islam and Moral Economy. Cambridge: Cambridge University Press.
Walras, Léon. 1926. Éléments d›économie politique pure, ou théorie de la richesse sociale. Paris, Lausanne: R. Pichon et R. Durand-Auzias, F. Rouge, Libraire-editeur.
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Published
30.01.2018
How to Cite
AL-DAGHISTANI, S. (2018). The Time Factor – Toshihiko Izutsu and Islamic Economic Tradition. Asian Studies, 6(1), 55–71. https://doi.org/10.4312/as.2018.6.1.55-71
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Islamic Theory and Philosophy
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