Unified Model of Global Wellbeing as Index of Spirituality and Socio-Economic Development: The Islamic Economic Approach

Abstract

The paper firstly establishes the ontological methodology according to the qu’anic monotheistic law, Tawhid and its unitary relationship in the world-system of ‘everything’. Tawhid as the primal ontological law in the Qur’an is differently poised to Shari’ah as the latter’ sectarian nature that evolved over time. Consequently, the concept of spirituality derived from the Tawhidi law is explained in terms of the precept of oneness between the good things of life while avoiding the unwanted ones. The imminent methodological consequences of Tawhid as law on the topic of spirituality and organization are explained by an analytical model that is empirically viable. Furthermore, the other examples are regarding the development of the wellbeing index to express the ontological role of Tawhidi unity of knowledge. The place of Islamic economics is thereby explained with the imminent Tawehidi ontological premise.