HUMAN-CENTERED ECONOMICS: BRIDGING THE GAP BETWEEN ECONOMIC THEORY AND HUMAN WELL-BEING

Abstract

This article explores the relationship between economic theory and human well-being. Human-centeredeconomics is a concept that has gained relevance in contemporary economic discourse. It emphasizes theimportance of considering humans as a central focus in economic theory. The study proposes a framework forhuman-centered economics. A study about “Contribution of Zakat and Community Economic Welfare” foundthat zakat plays a significant role in improving community economic welfare, particularly through its impact oninstitutionalization, regulation, foreign exchange, capital distribution, and human development. This researchcontributes to understanding the relationship between zakat, economic factors, and human well-being. Allthings considered, these studies emphasize how critical it is to take social, environmental, and ethicalconsiderations into account when analyzing economic data, which helps close the gap between economictheory and human well-being. The methodology used for this research is a document review and analysis ofprevious literature. They draw attention to the necessity of expanding economic frameworks to include a morethorough understanding of human well-being and to go beyond conventional economic indicators. Subsequentinvestigations 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, andintegrating these factors into economic models.