The Loan Interest in the Context of Religious and Ethical Economic Systems in the Past and in the Present

2007 ◽  
pp. 141-157
Author(s):  
R. Bekkin
Keyword(s):  
Economic Model ◽  
Economic Systems ◽  
The Past ◽  
Ethical Guidance ◽  
Islamic Economic ◽  
Bearing System

The article describes historical peculiarities in the attitude towards dealing with interest in various economic systems, where economic actors followed religious and ethical guidance when making decisions. The author focuses on the Islamic economic model as one of the most successful attempts to establish an alternative to the interest-bearing system of borrowing.

scholarly journals Halal Industry in the Republic of Tatarstan

2021 ◽  
Vol 17 (1) ◽  
pp. 159-176
Author(s):  
D. S. Kusanova
Keyword(s):  
Public Relations ◽  
Economic Model ◽  
The Core ◽  
The Past ◽  
Market Sector ◽  
Current State ◽  
The Republic ◽  
Islamic Economic

The article analyzes the current state and topical problems of the “halal” industry in the Republic of Tatarstan. The author considers the stages of formation of this market sector and peculiarities of its functioning in the region. It is noted that the Islamic Economic Model (IEM) is the core on which the “halal” industry is based and developed. In turn, the concept of “permissible” and “forbidden” regulates the spheres of public relations among Muslims. The author examines the Halal Lifestyle and Halal Friendly directions, shows their main directions operating in the Republic of Tatarstan. The system of certifi cation in the past and present has been studied, and problems that need to be solved have been identifi ed.

GREEN ECONOMIC MODEL: PREREQUISITES FOR THE FORMATION AND DEVELOPMENT

2020 ◽  
Author(s):  
Елена Александровна Тарханова
Keyword(s):  
International Organizations ◽  
Economic Model ◽  
Green Economy ◽  
The Past ◽  
The World ◽  
Definition Of

За последние двадцать лет в мире сформировалась концепция «зеленой» экономики, которая соединила в себе комплексную увязку двух ключевых компонентов: экономического и экологического. Такая модель экономики должна способствовать более гармоничному согласованию между этими компонентами, которое было бы уместно для всех государств. В статье изучены предпосылки становления и развития «зеленой» экономической модели. Проведено исследование подходов международных организаций к определению понятия «зеленая» экономика. Over the past twenty years, the concept of a "green" economy has emerged in the world, which combines a complex alignment of two key components: economic and environmental. Such an economic model should contribute to a more harmonious harmonization between these components, which would be appropriate for all groups of countries. The article studies the prerequisites for the formation and development of a "green" economic model. A study of the approaches of national and international organizations to the definition of the concept of "green" economy.

scholarly journals COMPARISON OF ISLAMIC ECONOMY AND CONVENTIONAL ECONOMY TO PEOPLE'S INCOME GROWTH IN REDUCING POVERTY AND UNEMPLOYMENT

2020 ◽  
Vol 1 (2) ◽  
pp. 259-274
Author(s):  
Tarmizi Tarmizi
Keyword(s):  
Economic System ◽  
Economic Systems ◽  
Economic Activities ◽  
Capitalist System ◽  
The People ◽  
Socialist Economic ◽  
Islamic Economic ◽  
Islamic Faith ◽  
The Right ◽  
Socialist Economic System

Islamic economic system is built on the foundation of the Islamic faith, the faith in question is the right because it comes from Allah brought to mankind through the prophet Muhammad. The Islamic faith is a faith that satisfies reason, reassures the soul, and is in accordance with human nature. In an individual context, economic activity is based on the values of worship. The economic system known by society globally is the capitalist and socialist economic system. In the economic context, both systems have been able to increase the prosperity of the people in the country that uses both economic systems. The capitalist system is influenced by the zeal to make the most of its profits with limited resources. This capitalist venture is supported by the values of freedom to make ends meet. This freedom resulted in high competition among others in defense, while the socialist economic system had the goal of mutual prosperity. In conclusion, the Islamic economic system is a solution economic system for various problems that have arisen, while the conventional economic system is an economic system that is widely used by various countries in the world, including Indonesia. A conventional economy is an economic system that gives full freedom to everyone to carry out economic activities.

scholarly journals An economic theory of Islamic finance

2017 ◽  
Vol 9 (2) ◽  
pp. 117-132 ◽  
Author(s):  
Mabid Ali Al-Jarhi
Keyword(s):  
Design Methodology ◽  
Islamic Finance ◽  
Economic Systems ◽  
Monetary Reform ◽  
Content Type ◽  
Reform Agenda ◽  
Banking And Finance ◽  
Economic Rationale ◽  
Islamic Economic ◽  
Set Up

Purpose This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.

scholarly journals How can econometrics help fight the COVID-19 pandemic?

2020 ◽  
Vol 4 (3) ◽  
pp. 29-36
Author(s):  
Kevin Alvarez ◽  
Vladik Kreinovich
Keyword(s):  
Incubation Period ◽  
Rapid Growth ◽  
Design Methodology ◽  
Control Measures ◽  
Economic Systems ◽  
Negative Effects ◽  
Content Type ◽  
Infected People ◽  
The Past ◽  
Highly Oscillatory

Purpose The current pandemic is difficult to model – and thus difficult to control. In contrast to the previous epidemics, whose dynamics were smooth and well described by the existing models, the statistics of the current pandemic are highly oscillating. The purpose of this paper is to explain these oscillations and to see how this explanation can be used to fight the epidemic. Design/methodology/approach The authors use an analogy with economic systems. Findings The authors show that these oscillations can be explained if we take into account the disease’s long incubation period – as a result of which our control measures are determined by outdated data, showing number of infected people two weeks ago. To better control the pandemic, the authors propose to use the experience of economics, where also the effect of different measures can be observed only after some time. In the past, this led to wild oscillations of the economy, with rapid growth periods followed by devastating crises. In time, economists learned how to smooth the cycles and thus to drastically decrease the corresponding negative effects. The authors hope that this experience can help fight the pandemic. Originality/value To the best of our knowledge, this is the first explanation of the highly oscillatory nature of this epidemic’s dynamics.

scholarly journals Supply and demand drive a critical transition to dysfunctional fisheries

2017 ◽  
Vol 114 (46) ◽  
pp. 12333-12337 ◽  
Author(s):  
John M. Fryxell ◽  
Ray Hilborn ◽  
Carling Bieg ◽  
Katrine Turgeon ◽  
Amanda Caskenette ◽  
...  
Keyword(s):  
Fishery Management ◽  
Supply And Demand ◽  
Real Income ◽  
High Yield ◽  
High Price ◽  
Economic Systems ◽  
Critical Transition ◽  
The Past ◽  
Critical Transitions ◽  
Management Policies

There is growing awareness of the need for fishery management policies that are robust to changing environmental, social, and economic pressures. Here we use conventional bioeconomic theory to demonstrate that inherent biological constraints combined with nonlinear supply−demand relationships can generate threshold effects due to harvesting. As a result, increases in overall demand due to human population growth or improvement in real income would be expected to induce critical transitions from high-yield/low-price fisheries to low-yield/high-price fisheries, generating severe strains on social and economic systems as well as compromising resource conservation goals. As a proof of concept, we show that key predictions of the critical transition hypothesis are borne out in oceanic fisheries (cod and pollock) that have experienced substantial increase in fishing pressure over the past 60 y. A hump-shaped relationship between price and historical harvest returns, well demonstrated in these empirical examples, is particularly diagnostic of fishery degradation. Fortunately, the same heuristic can also be used to identify reliable targets for fishery restoration yielding optimal bioeconomic returns while safely conserving resource abundance.

New measures may not appease violent protests in Chile

2019 ◽  
Keyword(s):  
Middle Class ◽  
Economic Model ◽  
Radical Change ◽  
The Political ◽  
Content Type ◽  
Lower Middle Class ◽  
Business Elite ◽  
The Past ◽  
The Law ◽  
The Government

Subject Continuing violent protests. Significance The wave of demonstrations and violence that has rocked Santiago and most other Chilean cities over the past few days, shocking Chileans themselves, is essentially a protest against the “1%”, in other words the political and business elite. However, this does not mean, at least for now, that Chileans want a radical change in the predominantly neoliberal economic model, but rather a fairer share of its proceeds and opportunities. Impacts Repair of some sections of the Metro could take months, to the detriment of mostly lower-middle-class neighbourhoods of Santiago. The disruption of activity will pull down growth this year, which was already expected to drop to around 2.5% from 4.0% in 2018. Growing reports of police and army brutality and violations of the law are further polarising the situation. For the rest of its term the government will be at the mercy of events and will have to negotiate agreements with the opposition.

Some Speculations on the Return of the Regions: Parallels with the Past

1978 ◽  
Vol 75 ◽  
pp. 623-638 ◽  
Author(s):  
Dorothy J. Solinger
Keyword(s):  
Economic Development ◽  
Hong Kong ◽  
The State ◽  
Economic Systems ◽  
State Council ◽  
Planning Commission ◽  
State Planning ◽  
The Past ◽  
State Planning Commission ◽  
Regional Basis

At the National Conference on Learning from Taching in Industry, held in Peking in May 1977, vice-premier of the State Council, Yu Ch'iu-li, first publicly mentioned the recreation of regional “economic systems.” Although there has been no reference to any administration for governing these regions, the use of the term “systems” (t'i-hsi), which must be “established,” suggests organized co-ordination on a regional basis. Several Hong Kong-based journals that report on current Chinese economic or political developments took note of Yu's remarks, speculating, respectively, that they were to serve economic development or defence goals, or that they might represent a concession to provincial leaders demanding autonomy. Thereafter, no further word of these regions surfaced for over four months. Then, in mid-September, in an article on socialist construction, the State Planning Commission drew attention again to these regions.

scholarly journals Dari Konsep Ekonomi Islam Sampai Urgensi Pelarangan Riba; Sebuah Tawaran Ekonomi Islam Timur Kuran

2021 ◽  
Vol 6 (2) ◽  
pp. 215-232
Author(s):  
Havis Aravik ◽  
Achmad Irwan Hamzani ◽  
Nur Khasanah
Keyword(s):  
Resource Use ◽  
Alternative School ◽  
Descriptive Analysis ◽  
Safety Net ◽  
Economic Thought ◽  
Economic Systems ◽  
Research Approach ◽  
Library Research ◽  
Efficient Resource ◽  
Islamic Economic

Islamic economic thought became increasingly prevalent with the birth of various schools of thought in Islamic economics. One of them is the critical alternative school that was pioneered by Timur Kuran. This research will discuss from Islamic economics to the urgency of prohibiting usury; an offer of the East Kuran Islamic economy. With the aim of knowing and analyzing the extent to which Eastern Kuran's economic thought made significant contributions to the development of contemporary Islamic economics. This research is a qualitative research with a library research approach and all data obtained were analyzed using descriptive analysis methods. The results of this study indicate that Timur Kuran is one of the pioneers of the Critical alternative school which critically studies various concepts of Islamic economics and banking. Various forms of economic thought such as from the concept of Islamic economics are none other than modern doctrines that offer alternatives to the economic systems of Capitalism and Socialism. The emergence of an Islamic economy was none other than political-cultural, with the largest contribution coming from Pakistanis, zakat is a more effective safety net than a secular redistribution system and the waqf system does not yet have the flexibility needed for efficient resource use, and the Qur'an prohibits the practice of usury which involves compounding the debt of a loan that is unable to make payments according to a predetermined schedule.

Sign in / Sign up

Export Citation Format

Share Document