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This book studies the interplay of economic philosophy and moral conduct as reflected in the writings of one of the most renowned scholars in Islamic history, Abū Ḥāmid Muḥammad ibn Muḥammad al-Ghazālī (d. 1111). As is well known, Imām al-Ghazālī, nicknamed “the proof of Islam”, contributed immensely to Islamic theology, philosophy, and Sufism or Islamic mysticism (taṣawwuf). Strikingly enough, al-Ghazālī also made seminal contributions to the field of economic thought, but this contribution has been largely neglected, although al-Ghazālī dedicated many chapters to what he considered just and Sharī‘a-based economic conduct in (Muslim) society. This book aims to analyse and revive al-Ghazālī’s understudied contribution to economic thought by emphasizing his economic philosophy and its correlation between Sharī‘a’s moral law and the tradition of taṣawwuf, as well as to situate his thought within the context of modern economic theories.
“Al-Daghistani makes a remarkable contribution to the study of economic thought in classical Islam. A rewarding read.” —Wael B. Hallaq, Avalon Foundation Professor in the Humanities, Columbia University
Introduction; 1. Abū Ḥamid al-Ghazālī – between Politics, Philosophy, and Sufism; 2. History of Islamic Economic Thought; 3. Al-Ghazālī’s Economic Teachings and the Science of the Hereafter ('ilm al-ākhira); 4. Classical Economics and its Worldviews; 5. Contemporary Debates – al-Ghazālī and Modern Economics; Conclusion: Conundrum of Ethics in Economics – a Feasible Possibility or Vain Attempt?; Appendix 1: Historical Development of Some of the Most Prominent Classical Islamic Scholars on Economic Thought; Appendix 2: Selected quotations of al-Ghazali’s Economic Teachings in the English Language; Bibliography; Index.