Many things are added behind the words Islam or Sharia, including economics, what's wrong with economics? does economics mean un-Islamic?
Economics lessons in formal schools used to mention a well-known economic figure in the 18th century AD, namely Adam Smith, whose book entitled Wealth of Nation, had a huge influence. Before answering the question why should Islamic economics? what's wrong with economics, and does economics mean it's not Islamic?, we need to ask first, did the world not have an economic concept before Adam Smith? which continues to grow until now to become a modern economy?.
You certainly understand that trade has been around for a long time, and Islam as a perfect religion has a concept not only about trade but an economic system, which is more accurately called Muamalah Maliyah.
Even the book Wealth of Nation itself is allegedly inspired by the book by the great Ulama Abu Ubaid entitled Al-Amwal, both of which discuss state-level assets, personally. The author himself was very impressed and amazed after reading Al Amwal's book, how could these books Today's book on economics which is very great, in fact it was preceded by the book of Ulama Abu Ubaid, what is the basis for this Ulama's thinking? of course none other than Islam.
If then Islam provides many guidelines regarding wealth, then what is the difference between the present/contemporary economy?
Secular Economy
Very clearly, the author says that contemporary economics is more dominated by secular economics, which is often said to be conventional economics, there are at least three characteristics of secular economics, which then make Islamic economics the only option.
Characteristic #1: Separating Religious Affairs from Wealth or Economy
Characteristic #2: Free Assets Owned by Anyone, In Any Way, For Anything
Characteristic #3: Property as Satisfaction of Life
Characteristic #1: Separating Religious Affairs from Wealth or Economy
Economics derived from Islam, the basis of its ties will never separate religion from world affairs including property, because in the end all will be held accountable
"Two soles of a servant will not move on the Day of Resurrection until he is asked (accounted for) about his age, where he spent it, about his knowledge, how he practiced it, about his wealth; where did he get it and where did he spend it, and about his body for what he used it" (Narrated by Tirmidhi)
But in secular economics the basis of the bond is precisely to separate religious affairs from worldly affairs, let alone those of an economic nature or regarding property.
Characteristic #2: Free Assets Owned by Anyone, In Any Way, For Anything
Basically property is owned by Allah Azza wa Jalla, humans get permission to acquire, use, and own it, there are at least three divisions of ownership, namely public property, private property, and state ownership. One hadith mentions common ownership:
"Muslims are united in three things: pasture, water, and fire." (Narrated by Abu Dawud and Ahmad)
But in a secular economy free property is owned by anyone, in any way, and for anything, the key lies in ownership of capital.
Characteristic #3: Property as Satisfaction of Life
In a secular economy wealth is used to the greatest extent to satisfy all the needs and desires of the world, prosperity is obtained even at the expense of an individual, while in Islam welfare and economic justice must be achieved even for one individual, so welfare for all is not welfare for nothing.
Thus things that are not right and not good in secular economics need to be corrected and revised, with Islam or Sharia.
Wallahu a'lam bishawab