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Heterodox Islamic Economics

Author: Masudul Alam Choudhury
Publisher: Routledge
ISBN: 1317336267
Size: 13.79 MB
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The fields of morality and ethics have been left out significantly from socio-scientific study in general and in economics and finance in particular. Yet this book argues that in this age of post-modernist analytical inquiry, the study of morality and ethics is an epistemological requirement. This book illustrates the delimiting nature of mainstream economic reasoning in treating morality and ethics and highlights the potential contribution of analytical monotheism, as typified by the Islamic concept of Tahwid. The principal purpose of this book is to undertake an introductory exploration of the critical area of comparative economic thought in order to place the nature and emergence of ethico-economic theory in its proper context. It is ultimately argued that such a post-orthodoxy revolutionary methodological worldview can be presented by Islamic political economy, Islamic economics and finance.

Islamic Economics

Author: Abul Hassan
Publisher: Routledge
ISBN: 0429777922
Size: 59.62 MB
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This book is a comprehensive study, which provides informed knowledge within the field of Islamic economics. The authors lay down the principal philosophical foundation of a unique and universal theory of Islamic economics by contrasting it with the perspectives of mainstream economics. The methodological part of the theory of Islamic economics arises from the ethical foundations of the Qur'an and the Sunnah (tradition of the Prophet) along with learned exegeses in an epistemological derivation of the postulates and formalism of Islamic economics. This foundational methodology will be contrasted with the contemporary approaches of the random use of mainstream economic theory in Islamic economics. The book establishes the methodological foundation as the primal and most fundamental premise of the study leading to scientific formalism and the prospect of its application. By way of its Islamic epistemological explanation (philosophical premise) in the form of logical formalism and the use of simple real-world examples, the authors show the reader that the scientific nature of economics in general and Islamic economics in particular rests on the conception of the scientific worldview. With its uniquely comparative approach to mainstream economics, this book facilitates a greater understanding of Islamic economic concepts. Senior undergraduate and graduate students will gain exposure to Islamic perspectives of micro- and macroeconomics, money, public finance, and development economics. Additionally, this book will be useful to practitioners seeking a greater comprehension of the nature of Islamic economics. It will also enable policymakers to better understand the mechanism of converting institutions, such as public and social policy perspectives.

Methodological Dimension Of Islamic Economics

Author: Choudhury Masudul Alam
Publisher: World Scientific
ISBN: 9813276037
Size: 44.78 MB
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The theme of circular causation has nascent origin in the field of sociology of economics with vast development applications and with epistemological issues on modeling in the framework of the phenomenon of pervasive interconnectedness. Thus the sociological theme of epistemic unity of knowledge grounds the theory and application of the theory and models of circular causation to the vast realm of socioeconomic development issues.The theory and application of circular causation has methodological similarities with Gunnar Myrdal's theory of social causation and Joseph Schumpeter's and Hayek's learning models of evolutionary phenomena. One can re-engineer many important works by sociological economists in and by the methodology of circular causation. Among these other important works are capabilities and functioning by Amartya Sen; John Rawls' evolutionary good society aspiring for social justice; adaptation of Ilya Prigogine's theory of being and becoming to social, economic and development phenomenon; and George Soros' theory of reflexivity in history and financial markets. The proponent of this book has pioneered the area of theory and application of circular causation extensively.

Heterodox Economics

Author: Books, LLC
Publisher: Books LLC, Wiki Series
ISBN: 9781157066583
Size: 35.61 MB
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 83. Chapters: Austrian School, Anti-capitalism, Evolutionary economics, Social Credit, Socialist economics, Marxian economics, Islamic economic jurisprudence, Chartalism, Institutional economics, Post scarcity, Georgism, Non-possession, Binary economics, Progressive utilization theory, Econophysics, Socioeconomics, Gandhian economics, New institutional economics, Production for use, Criticism of fractional-reserve banking, Alexander del Mar, Kinetic exchange models of markets, Thermoeconomics, The Other Canon Foundation, Post-autistic economics, Counter-economics, Forum for Stable Currencies, Pluralism in economics, Structuralist economics, Market abolitionism, European Association for Evolutionary Political Economy, Decommodification, American Monetary Institute, Surplus economics, Chrematistics, Bioeconomics, Michael Rowbotham, Zero growth, Calculation in kind, Human development theory, Regenerative Economic Theory, Humanistic economics, Prout College, Review of Radical Political Economics, Decentrally planned economy, Non-market economics, Economic karma, Neo-Ricardianism, Material balance planning, Social dividend. Excerpt: The Austrian School is a heterodox school of economic thought that emphasizes the spontaneous organizing power of the price mechanism. Its name derives from the identity of its founders and early supporters, who were citizens of the old Austrian Habsburg Empire, including Carl Menger, Eugen von B hm-Bawerk, Ludwig von Mises, and Nobel laureate Friedrich Hayek. Currently, adherents of the Austrian School can come from any part of the world, but they are often referred to simply as Austrian economists and their work as Austrian economics. They generally advocate a laissez faire approach to the economy. The Austrian School was influential in the late 19th and early 20th century. Austrian contributions to main...

Islamic Financial Economy And Islamic Banking

Author: Masudul Alam Choudhury
Publisher: Routledge
ISBN: 131711230X
Size: 28.47 MB
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Islamic Financial Economy and Islamic Banking, is a thorough, deeply conceptual, analytical and applied work in the area of epistemological foundation of Islamic world-system. The book presents a new frontier of original contribution to the theme of generalized-system model of shari’ah. The model, derived from the Qur’an and Sunnah (Prophetic guidance) incorporates a wide analytical coverage of the purpose and objective of the Islamic worldview (maqasid as-shari’ah) in Islamic economics and finance in particular. The author covers issues that contrast with the existing understanding of Islamic economics and finance, including some specific goals defining the field and how they compare in today’s unstable world of financial volatility. A new heterodox thinking in economic theory is outlined. The potential as to how such issues can be addressed by the Tawhidi epistemology in formulating the generalized-system model of the purpose and objective of shari’ah lead the way in this book. Its presentation and analysis, methods and approach, overarch the fields of philosophy of science, rigorous analysis, mathematical and other presentations of the understanding given, and all taken up in the light of the exegesis of the Qur’an and coverage of the Sunnah. The result is a substantive one in the field of scholarship and application; and in analytically proving the universality and uniqueness of the epistemic worldview for the academic and practitioner world at large. The totality of the multiverse diversity of issues and problems reviewed comprise the study of the world-system by the Tawhidi methodological approach. Yet this methodology and its empirical configuration are universally applicable to all users without any need for unnecessary religious overtone.

Old Islam In Detroit

Author: Sally Howell
Publisher: Oxford University Press
ISBN: 0199372020
Size: 49.46 MB
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Across North America, Islam is portrayed as a religion of immigrants, converts, and cultural outsiders. Yet Muslims have been part of American society for much longer than most people realize. This book documents the history of Islam in Detroit, a city that is home to several of the nation's oldest, most diverse Muslim communities. In the early 1900s, there were thousands of Muslims in Detroit. Most came from Eastern Europe, the Ottoman Empire, and British India. In 1921, they built the nation's first mosque in Highland Park. By the 1930s, new Islam-oriented social movements were taking root among African Americans in Detroit. By the 1950s, Albanians, Arabs, African Americans, and South Asians all had mosques and religious associations in the city, and they were confident that Islam could be, and had already become, an American religion. When immigration laws were liberalized in 1965, new immigrants and new African American converts rapidly became the majority of U.S. Muslims. For them, Detroit's old Muslims and their mosques seemed oddly Americanized, even unorthodox. Old Islam in Detroit explores the rise of Detroit's earliest Muslim communities. It documents the culture wars and doctrinal debates that ensued as these populations confronted Muslim newcomers who did not understand their manner of worship or the American identities they had created. Looking closely at this historical encounter, Old Islam in Detroit provides a new interpretation of the possibilities and limits of Muslim incorporation in American life. It shows how Islam has become American in the past and how the anxieties many new Muslim Americans and non-Muslims feel about the place of Islam in American society today are not inevitable, but are part of a dynamic process of political and religious change that is still unfolding.

Pluralist Economics

Author: Edward Fullbrook
Publisher: Zed Books Ltd.
ISBN: 1848137508
Size: 51.18 MB
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This book is an authoritative and accessible guide to the pluralist movement threatening to revolutionise mainstream economics. Leading figures in the field explain why pluralism is a required virtue in economics, how it came to be blocked and what it means for the way we think about, research and teach economics. The first part of the book looks at how neoclassical economics gained its stranglehold, particularly in the United States, and how the social and intellectual underpinnings of economics have enabled it to maintain this in the face of inconsistent evidence from the real world. This is then contrasted with different approaches to pluralism. Pluralist Economics then goes on to address the array of arguments for establishing pluralism, showing how economics came to function as a concealed ideology and not as a science, and how value-free economics is an illusion. Finally, it addresses the practical problems presented by this different way of doing economics.

Democracy And Islam In Indonesia

Author: Mirjam Künkler
Publisher: Columbia University Press
ISBN: 0231535058
Size: 25.89 MB
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Indonesia's military government collapsed in 1998, igniting fears that economic, religious, and political conflicts would complicate any democratic transition. Yet in every year since 2006, the world's most populous Muslim country has received high marks from international democracy-ranking organizations. In this volume, political scientists, religious scholars, legal theorists, and anthropologists examine the theory and practice of Indonesia's democratic transition and its ability to serve as a model for other Muslim countries. They compare the Indonesian example with similar scenarios in Chile, Spain, India, and Tunisia, as well as with the failed transitions of Yugoslavia, Egypt, and Iran. Essays explore the relationship between religion and politics and the ways in which Muslims became supportive of democracy even before change occurred, and they describe how innovative policies prevented dissident military groups, violent religious activists, and secessionists from disrupting Indonesia's democratic evolution. The collection concludes with a discussion of Indonesia's emerging "legal pluralism" and of which of its forms are rights-eroding and rights-protecting.