Production Factors and Pricing System within ？slamic Economics

Production factors and pricing mechanism are shaped according to the modern theory of economics and requirements of capitalism. In this study, with an approach of Islamic point of view, the underpinning basis of production factors and pricing mechanisms are being searched with a comparative analysis of western economic theory. With the reference to our assumption that in every society economic policies and administrative regulations cannot be differentiated from philosophical basis, a multidisciplinary analysis is conducted over economics, philosophy and related Islamic jurisprudence. Our argument is that in comparing modern approach that centralizes worldly life in primer focus by subjugating everything that can serve material progress and capital accumulation as means of production or productive relations, with ？slamic economics that takes world only as a temporary place but worthwhile to the extent that it preserves life of the hereafter by subjugating whatever exist as creature means relation of which should be based on Divine consent. The production relations and methods are not exalted and sanctified in ？slamic economics but rather respected due to their functionalities of easing human needs and temporary worldly life which are a transient to hereafter. The price of capital as mean of production is not interest but profit while pricing mechanism is close to liberal system but requires market intervention in case of disruption or failures