International Journal of Islamic Business & Management <p style="text-align: justify;"><img class="shrinkToFit" style="display: block; margin-left: auto; margin-right: auto;" src="" alt="" width="505" height="654"></p> <p><strong><em>International Journal of Islamic Business &amp; Management (IJIBM)</em></strong> is an international, double-blind peer-reviewed journal for Islamic business &amp; management academics.</p> en-US (Executive Editor) (Administrator) Mon, 27 May 2019 00:00:00 +0600 OJS 60 Economic- Juristic Analysis of Usury in Consumption and Investment Loans and Contemporary Jurisprudence Shortages in Exploring Legislator Commandments <p>In this article, by analyzing the deduction methodology of jurisprudence commandments, we try to touch the existing shortages in its methodological aspects. By discussing on different sources of Islamic jurisprudence like the Quran, Sunna (Tradition), consensus, intellect, fame, analogy, preference, public interest considering, blocking the means, we will explicates that the divine authority (person who is allowed by the messenger or by someone whom messenger has allowed him) has been ignored in religious deduction, and thus these different ideas have emerged in Islamic commandments. In this regards, juristic decrees may be compared, which are different and even conflict solutions to a unique problem or question. These conflicts enlighten two important propositions.</p> <ol> <li>The juristic deduction methodology needs revision.</li> <li>Ignorance to theosophy principle of jurisprudence is the main source of conflicts.</li> </ol> <p>By defining and analyzing usury and interest in an economic-juristic frame and specifically in the Quran and with respect to wisdom or theosophy principle in jurisprudence to distinguish usury and non-usury finance, we conclude:</p> <ol> <li>The loaner must share in profit and loss of the economic activity of the loan receiver.</li> <li>The rate of interest-because of inability to determine the capital productivity rate a priori- should not be determined and conditioned in advance.</li> <li>Receiving interest in consumption loans is usury and not allowed.</li> </ol> <p>Transformation of credit and deposit markets’ oscillations to the real sector is the main initiation of real sector economic fluctuations. Respect to wisdom (theosophy) principle of religious legislation, and by introducing a mathematical model, we show that usury causes economic fluctuations and by deleting usury from the economy, we conclude that real economy will be more stable.</p> <p><strong>DOI: <a href=""></a></strong></p> <p>&nbsp;</p> Bijan Bidabad ##submission.copyrightStatement## Mon, 27 May 2019 20:11:11 +0600 Equilibrium in Ethic Economics <p>We will study the concept of equilibrium in conventional and ethic economics in this paper. By a general review of the subject of equilibrium from basic sciences' point of view, we will study the meaning of equilibrium at different levels of micro, macro, and international economics; and by considering the lust and anger powers of human being, the concept of optimizing human behavior in Neoclassical theory will be studied. The hypothesis of “rational behavior” and philosophical and the root of thoughts and human behavior modeling in neoclassical economics will be analyzed from pleasure or utilitarianism-based point of view. By putting forward the concept of “perfection” as materializing innate power of creatures, we introduce the concept of ethic science so that we will review the correctness and goodness of actions and qualities of the human being in the process of optimizing economic behavior. Level of equilibrium in the powers as prescribed by ethic science with the meaning of preventing overindulgence and under-indulgence will be discussed. The meaning of equilibrium in ethic economics is a global optimum and in the form of utility point of view, has a broader domain of qualities and intellectualities and human being spirituals always at least is in a position that is better than Neoclassical optimized behavior (which is a local optimum).Some qualities related to economic behavior and overindulgence and under-indulgence and their equilibrium have also been considered. Equilibrium in ethic economics means using resources and locating everything in its right position and in the direction of obtaining human being perfection. Putting things in their right position is the optimal use of them from a mathematical point of view, and perfection is defined as reaching the ultimate innate of every creature. This means that in order to maximize the utility, resources should be used in a manner that in addition to ensuring human being material needs, assure the necessary background for maximizing mental and spiritual growth and elevation of him.</p> <p><strong>&nbsp;DOI: <a href=""></a></strong></p> Bijan Bidabad ##submission.copyrightStatement## Tue, 28 May 2019 18:36:20 +0600 Ethic Economics, Fair Economy, New Economy, Sustainability and other Related Disciplines <p>Evolution of humankind in forming economic order of the society passed from caring only individual benefit to looking for social interests. This was what followed in the last millenniums. In this paper, we review this evolutionary process that starts from utilitarianism and reaches to ethical approach in defining human being behavior. It concludes that following what the divine prophets and messengers have understood and legislated are more appropriate for human well-being both in their materialistic and spiritual lives.&nbsp;&nbsp; &nbsp;</p> <p><strong>DOI: <a href=""></a></strong></p> <p>&nbsp;</p> Bijan Bidabad ##submission.copyrightStatement## Tue, 28 May 2019 19:33:54 +0600 Squandering in Ethic Economics: Consumer and Producer Behaviors Analysis <p><em>Purpose:</em> This paper investigates the effects of squandering on the economic behavior of consumer and firm. Moreover, we analyze consumer work-leisure behavior from the squandering viewpoint.</p> <p><em>Findings:</em> Commodity squandering creates no utility for the consumer. Just the "(real) consumption (usage)" satisfies the preference ordering rules of consumer behavior and the "squandered" commodities do not satisfy these rules. Definitionally, consumption is equal to "real usage" plus "squandered" commodities. Thence, the consumer will lose some parts of her utility because of squandering (because of lost resources). The amount of lost income resources due to squandering should be recompensated by more works to preserve the consumer's welfare constant. Squandering effects in total productivity, non-optimal allocation of production factors, product wastage, and product decay are analyzed as less productivity and less supply of products due to squandering. According to this analysis, theoretically, it can be concluded that squandering will decrease the leisure and its corresponding utility of human being.</p> <p><em>Social implications:</em> If the ethic economics' doctrine affects the consumption pattern, this process will moderate consumption. Otherwise, the society will move toward exploiting all of her capital to: "just produce-just consume". The latter will be intensified by knowledge-based economic progress.&nbsp;</p> <p><strong>JEL:</strong> D11, D21, Z12, D19, D24</p> <p><strong>DOI: <a href=""></a></strong></p> <p>&nbsp;</p> <p><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </strong></p> Bijan Bidabad ##submission.copyrightStatement## Tue, 28 May 2019 20:15:00 +0600 Overconsumption in Ethic Economics and Sustainable Development <p>Squandering or spending more than need, which is a concept in ethic economics, which has been reconsidered under the subject of sustainable development at the present time. It is shown on the whole that the increase of per-capita consumption, the effects on the environment will increase; in other words, the environmental carrying capacity will decrease. At present world conditions, squandering means aggression to others' rights and in addition to be disagreeable, but by compiling rules, it can be regarded in the domain of offense and crime at national and global levels. This is because squanderer endangers the environment and interests of others for her own benefit.As a model to use resources to serve human being needs for present and coming generations, sustainable development is put forward, which coincides with disagreeability of squandering in ethic economics. In spite of considering the sustainability of the environment, this concept takes into account the areas such as economics, socio-politics, and variety of cultural and life realms regarding intellectualism, sentiments, ethical and spiritual subjects. Regarding the chain of production, it also points to squandering as a topic in industrial ecology. Industrial ecology recommends converting industrial production processes from linear to circular systems in which, scraps and wastes are recycled as factors of other productions. Clean technology and its related regulations and cleaner production are also related to squandering concept in production.</p> <p><strong>DOI: <a href=""></a></strong></p> <p>&nbsp;</p> Bijan Bidabad ##submission.copyrightStatement## Tue, 28 May 2019 20:31:34 +0600