Consumers and producers aim to maximize their welfare through economic transactions. Their welfare is determined by choices and preferences. Therefore, understanding social and economic welfare projected by conventional and Islamic economics requires exploring their underlying paradigms and axioms for preference formation, choices, and welfare maximization. Even though conventional economics assumes that preferences are given, it actually considers that they are driven by self-interest. It does not discuss preference formation along determining moral axioms. Rather, it starts from revealed preferences to understand choices of consumers and producers. Thus, preference formation is like a black box. This paper is an attempt to unlock this black box by exploring preference formation along its underlying moral axioms for good life. The paper discusses Islamic moral ideals within the Islamic worldview along the implications of those axioms for consumers, employees, and employers. The paper also explores the gap between those ideals and Muslim reality. It suggests how to empirically test the relationship between moral axioms and ethical behaviors of consumers, employers, and employees. It concludes that internalizing moral axioms would serve as an ethical compass necessary to establish formal and informal institutions for efficient and ethical business organizations.

中文翻译：

---

伊斯兰经济学和商业中的道德经济公理，偏好形成和福利

消费者和生产者的目标是通过经济交易最大化他们的福利。他们的福利取决于选择和偏爱。因此，要了解传统经济学和伊斯兰经济学所预测的社会和经济福利，就必须探索其关于偏好形成，选择和福利最大化的基本范式和公理。即使传统经济学假设给出了偏好，它实际上也认为它们是出于个人利益。它没有讨论关于确定道德公理的偏好形成。而是从揭示的偏好开始，以了解消费者和生产者的选择。因此，偏好形成就像黑匣子。本文试图通过探索其构成美好生活的道德公理的偏好形成来解锁这个黑匣子。本文讨论了伊斯兰世界观中的伊斯兰道德理想，以及这些公理对消费者，雇员和雇主的影响。本文还探讨了这些理想与穆斯林现实之间的差距。它提出了如何从经验上检验道德公理与消费者，雇主和雇员的道德行为之间的关系的方法。结论是，将道德公理内部化将作为建立有效和道德商业组织的正式和非正式机构所必需的道德指南针。雇主和雇员。结论是，将道德公理内部化将作为建立有效和道德商业组织的正式和非正式机构所必需的道德指南针。雇主和雇员。结论是，将道德公理内部化将作为建立有效和道德商业组织的正式和非正式机构所必需的道德指南针。