USD Conference Systems, The 2nd International Conference on Economics, Business, and Management Research (ICEBMR)

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HUMAN-CENTERED ECONOMICS: BRIDGING THE GAP BETWEEN ECONOMIC THEORY AND HUMAN WELL-BEING
Shibli Jamal Shariff Asad, Silivia Annisa

Last modified: 2023-11-16

Abstract


This article explores the relationship between economic theory and human well-being. Human-centered economics is a concept that has gained relevance in contemporary economic discourse. It emphasizes the importance of considering humans as a central focus in economic theory. The study proposes a framework for human-centered economics. A study about “Contribution of Zakat and Community Economic Welfare” found that zakat plays a significant role in improving community economic welfare, particularly through its impact on institutionalization, regulation, foreign exchange, capital distribution, and human development. This research contributes to understanding the relationship between zakat, economic factors, and human well-being. All things considered, these studies emphasize how critical it is to take social, environmental, and ethical considerations into account when analyzing economic data, which helps close the gap between economic theory and human well-being. Used document review and analysis of previous literature. They draw attention to the necessity of expanding economic frameworks to include a more thorough understanding of human well-being and to go beyond conventional economic indicators. Subsequent investigations in this field might concentrate on creating new measures that precisely capture human well-being, influencing how policy choices impact the advancement of fair and sustainable economic growth, and integrating these factors into economic models.

Keywords


human-centered economics; economic theory; well-being; bridging the gap

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