A Comparative Analysis between Islamic Economics and Environmental Economics: Historical Development and its Significance for Contemporary Challenges
Abstract
This article investigates the possible relationship between Islamic and Environmental Economics to address environmental concerns. Comparative analysis shows that Environmental Economics has been more successful in addressing environmental challenges, even though both frameworks approach the economic activity with different concepts. Environmental Economics has been successful because of its all-encompassing focus on environmental factors, acceptance on a worldwide scale, relevance of policies, and individual-centered methodology. On the other hand, Islamic economics, which functions mainly at the community level, needs more clarity with broader implementation. The strengths of each strategy are examined in this research, which concludes that environmental economics provides a more flexible and universally applicable framework for promoting economic activity by environmental preservation. The results add to the current discussion on sustainable development by highlighting the significance of combining realistic, internationally recognized strategies with moral principles to create a sustainable future.
Abstract
This article investigates the possible relationship between Islamic and Environmental Economics to address environmental concerns. Comparative analysis shows that Environmental Economics has been more successful in addressing environmental challenges, even though both frameworks approach the economic activity with different concepts. Environmental Economics has been successful because of its all-encompassing focus on environmental factors, acceptance on a worldwide scale, relevance of policies, and individual-centered methodology. On the other hand, Islamic economics, which functions mainly at the community level, needs more clarity with broader implementation. The strengths of each strategy are examined in this research, which concludes that environmental economics provides a more flexible and universally applicable framework for promoting economic activity by environmental preservation. The results add to the current discussion on sustainable development by highlighting the significance of combining realistic, internationally recognized strategies with moral principles to create a sustainable future.
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