The theory of consumer behavior (14)

The Methodologies of Consumer Behaviour: Conventional system and Islamic system

İn his paper the author notes that, the impact of utility theory towards society in the conventional economy has been tremendous.

This is because people only concern to maximize utility in order to fulfill their self desire without thinking about others.

This is noted by Altaf Gauhar (1978:300) who claims that:

“Secularisation is the hallmark of any modern economy which must operate without much concern for religion, ethics…”

Thus non-Muslim economists must have been influenced by secularism in developing methodologies of economic.

There are two methodologies of economics developed by western scholars which is known as:

ü positive;

ü and normative.

Positivism believes that economics should be free from any:

ü ethical

ü and morality postulates.

to be continued...

Source: Islamic Science University of Malaysia