Law and Economics from a Moderate Islamic perspective (LEMI)

Economic science is a high powered analytical discipline as such that can explain and predict the human and social behavior. Production and extension of law and economics is one of such developments. Religious oriented behaviors are, in my view point, amongst other dimensions of human life. In this paper I am going to analyze Law and Economics from a Moderate Islamic perspective, LEMI. Contract law is our case study in this regard. By using “moderate” term, we are excluding the religious extremist view points. One further fact which inspired me to insist on LEMI, was recent combating of two distinct Islamic view points (extremist and moderate) during current Iranian election (June 2009). In developing this paper, we are using a coherent synthesis of law and economic theories at one hand and moderate Islamic teaching at the other. I
maintain on one or two points (or arguably one or two contributions) in this paper;the sacredness of humanity in LEMI, and its remarkable compatibility with conventional law and economics. Analyzing the interrelationship between economics and law from Islamic perspective, and comparing LEMI with other schools of economics and law, are possibly some new scientific debates.

Source: Berkeley Program in Law & Economics, Working Paper Series. Paper 240. [via eScholarship repository]

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