SYSTEMS THINKING, ECONOMICS, AND ISLAMIC ECONOMICS

Abstract

This study is a literature review. It briefly introduces the role of systems thinking in Islamic management. It then looks at how systems thinking has applied in economics. In particular, the use of computer simulations has enabled systems thinkers to question existing economic assumptions. It then explores Islamic economics and asks whether Islamic economists should incorporate systems thinking in their research project. It seems that Muslim economists are aware of feedback economics but that their priorities are elsewhere.