Журнал искусств и социальных наук

Political Economy of Institutionalism: A Qur’anic Ontological Inquiry

Abstract

Masudul Alam Choudhury*

This paper builds an original theory that is derived from the methodology premised in the ontology leading to the epistemology of unity of knowledge of monotheistic oneness in its widest meaning encompassing the dynamics of creation in its generality and specificity of issues and problems. This methodology is explained in terms of pervasive participatory and organic interactive, integrative, and evolutionary learning (IIE learning) nature and logic of the generality and details of the world-system of ‘everything’. Such an entirety of the diverse components of the world-system and its entities is explained by inter-causal endogenous variables and their relations in the form of algorithmic analytics.

Institutionalism as the phenomenology of such an intrinsic world-system and its inherent interactive, integrative and evolutionary learning (IIE learning processes) characteristics of the worldview of the pervasively participatory processes is taken as the widest definition of political economy. Thus, this paper studies the conceptual and applied aspects of the emergent field of political economy of the institutionalist worldview in the light of the qur’anic primal ontology of monotheistic unity of knowledge referred to as Tawhid and its methodological worldview governed by the ontology of unity of knowledge and its embedding of the world-system.

On the contrary, the prevalent view of political economy of institutionalism is one of legitimating the competition and adversarial behaviour that is transmitted to the nature of institutionalism via the methodological individualism nature of self and other. The pronounced difference in the theory of political economy of institutionalism in the prevalent orientation and the one presented in this paper is therefore one premised on the opposing views. These are of methodological individualism of the adversarial outlook between entities and oppositely that of participation in a methodological orientation of unity of knowledge. Even in the contrasting views of the normative theory we are constructing against the positivistic theory being extant.

The objective of this paper is to introduce an ethically constructed possibility, where there does not exist one presently. The other going idea of actor network that resembles our IIE learning methodological worldview with its ontological universality and uniqueness is of significance to understand the inter-causal relations between primal ontology of unity of knowledge, mind, machine, and sustainable inferences thus obtained. Indeed, this monotheistic quest ought to be the ultimate objective of the socio-scientific era.