What are the underlying features of the neo classical model of economic thought? What worldview does it represent? How are they at cross purpose with the Islamic world view?

The economy is literally a social science that study the human behaviour given the scarcity of resources whilst wants are unlimited and the need to choose between competing alternatives. It is also studies the production, distribution, trade and consumption of goods and services. It can be said that the early economy thought started as a protest by Europeans towards Christianity orthodox school which has firmly grips them in every way. Such economists can be seen to be into political economy in their publication whereas be a neoclassical economy in other publication. This happens because the needs for anti-establishment during the period have led them to be secular in all way and to separate everything inclusive of economic activities with religion.

How is wealth conceived or perceived with respect to its significance and role to social progress during the pre-industrial and post-industrial eras?

In traditional era, the wealth will be associated the land held by the person. Generally, the leader or master encompassing of the kings and aristocrats will have plenty of lands. This will determine their economic level in the society of the leaders. At one point, king in feudal system threaten by his aristocrats who having plenty of lands but rebellious toward him. The feeling existed because of the hierarchy of this aristocrat in the economy. One of the factors that have lead to the rebellious and anti-establishment of aristocrats was from the introduction of taxes imposed to the productions from the lands onto them.

What is your understanding of the term 'fair price'? Do you think it is the same or rather does it have the same meaning between the era of pre-indutrial and post-industrial?

The ‘fair price’ is the unbiased estimate of price of goods and services given any constraints in production, distribution, opportunity costs, risk and return. It will be achieved when demand and supply at point of equilibrium.

What is the difference in value systems of societies prior to industrialization and those we find today, especially the economic values of profits, success, efficiency, equity and well being?

Industrialisation also known as Industrial Revolution, is a process of social and economic, whereby a human society is transformed from traditional to industrial state. The transition has brought tremendous change in the philosophical view of society, and this, in turn, bring the modernisation process in social and economy into technology revolution.