Theology and ethics in Adam Smith: A case for Islamic Economics

Abstract

Abstract: This study is an analysis of the theological and ethical dimensions in
the writings of Adam Smith. It deals with aspects of philosophy and intellectual
history. By revealing the theological and ethical roots of Smith’s writings in the
formation of modern economics, arguments for an economics that is based on
Islamic foundations become stronger. The study will therefore lay out the basic
moral project of Smith and then contextualize it in the Western Enlightenment
tradition. It shows how religious discourses were instrumental in shaping the
thoughts and ideas of Enlightenment in general, and economics in particular.
The study will then give a brief overview of traditional Islamic theology and
ethics in order to give directions for future research.