Rise and Fall of Development: How does Hadith Views on Economic System?

  •  Abur Hamdi Usman    
  •  Abu Zaki Ismail    
  •  Mohd Khafidz Soroni    
  •  Rosni Wazir    


As many as 40% of the population that categorized poor people in the world on which their income less than 2 US dollar per day is the result of the existing applied economics theories and they have failed to obtain sustainability and stability condition. The economic theory that is now developed mainly use positivism approach where normative assessment dispensed. This paper attempts to re-open the history back into the 6th century, where the Prophet Muhammad (pbuh) tried to develop the economy of the state using concept taken from the hadith (prophetic tradition). This concept is the very roots of the improving Islamic economics theory nowadays that comes up to be the best alternative concept to replace upon the fail conventional theories. Qualitative approach through document analysis of relevance references as well as historical approach use to observe the economic development in the eye of hadith.

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