‘Islamic Economics: The Polar Opposite of Capitalist Economics’

Aimed at highlighting the foundational principles of Islamic economics while accentuating its differences from the capitalist economics, IPS, in collaboration with a Malaysian based organization Institute of Regenerative Livelihoods, organized a lecture series titled ‘Islamic Economics: The Polar Opposite of Capitalist Economics’.

The series comprising seven lectures on successive weekends was initially conceived by the Malaysian Institute in online mode, but the partnership with IPS enabled it to be held in the physical mode as well.

Conducted by Professor Dr Asad Zaman, a renowned economist and former vice chancellor, Pakistan Institute of Development Economics (PIDE), the lecture series started from August 17, 2024, with more lectures held on August 24 and 31, September 7, 21 and 28, and October 5.

Based on a book authored by Dr Asad Zaman with a similar title, the lecture series also talked about the ethical principles of social and transactional justice, and Islamic solutions to transcend the current crisis brought about by capitalism through integrating socio-economic activities into the ambit of ethical, moral, societal and spiritual goals. Additionally, it also touched upon the systematic revival of socio-economic institutions, rediscovering the foundations of Islamic intellecto-moral principles, and the role of the government and conscientious individuals in this regard.

The series was attended by a diverse range of participants, including field practitioners, academics and students pursuing higher studies.