scholarly journals Launching a Revolution, based on Islamic Foundations

2019 ◽  
Vol 32 (2) ◽  
pp. 77-88
Author(s):  
Asad Zaman Asad Zaman
Keyword(s):  
Financial Crisis ◽  
Social Responsibility ◽  
Human Behavior ◽  
Real World ◽  
Global Financial Crisis ◽  
World History ◽  
Homo Economicus ◽  
Wealth Maximization ◽  
The Rich ◽  
The Global Financial Crisis

Conventional economics is deeply and fundamentally flawed, beyond the possibility of reform and repair. Its failings in the real world became obvious to all following the global financial crisis. The root of the problem is the theory of human behavior represented by “homo economicus”. The idea that short-sighted greed is “rational” is sheer folly. The theory is maintained in face of overwhelming empirical evidence to the contrary only because it serves the ideological interests of the rich and powerful capitalist classes. The philosophy of wealth maximization has led to the destruction of families, societies, economies, environment, fauna, and flora, as all are ruthlessly exploited for the creation and maximization of profits. Islamic teachings created a revolution in world history by promoting a society based on cooperation, generosity, and social responsibility. These ideas, completely missing from modern economics, have the same revolutionary potential today. The challenge for the Muslims today is to demonstrate this potential by translating these ideas into reality.

scholarly journals The Global Financial Crisis and Healthcare Inequality in Japan

2021 ◽  
Author(s):  
Sayaka Sakoda ◽  
Masaoki Tamura ◽  
Naohiko Wakutsu
Keyword(s):  
Health Care ◽  
Financial Crisis ◽  
Low Income ◽  
Global Financial Crisis ◽  
Health Care Expenditure ◽  
Care Needs ◽  
Middle Income ◽  
Income Class ◽  
The Rich ◽  
The Global Financial Crisis

AbstractThe aim of this study is to clarify whether health-care inequality in Japan widens during a depression, even though Japan has a universal health-care system. To this end, we investigate the time-series fluctuations in health-care expenditure inequalities in Japan for the period 2008–2017, which includes the period during which the global financial crisis affected Japan. We construct an economy-wide inequality index comparing the actual health-care expenditure at various income levels (low, middle and high) against the estimated health-care needs. The findings of the study are as follows. First, the rich (the top 20% income class) spend far more than their estimated needs on health care, whereas the poor (bottom 20%) spend far less. Second, during the global financial crisis, health-care inequality especially among the working generation became greater in Japan, mainly because not only the low-income class but also the middle-income class (the bottom 30–60%) was unable to pay for health care.

scholarly journals Global financial crisis and corporate social responsibility disclosure

2016 ◽  
Vol 12 (4) ◽  
pp. 654-671 ◽  
Author(s):  
António Dias ◽  
Lúcia Lima Rodrigues ◽  
Russell Craig
Keyword(s):  
Corporate Social Responsibility ◽  
Financial Crisis ◽  
Social Responsibility ◽  
Global Financial Crisis ◽  
Stakeholder Management ◽  
Community Relations ◽  
Content Type ◽  
Corruption Prevention ◽  
The Global Financial Crisis ◽  
Corporate Social

Purpose This paper investigates the effect of the global financial crisis (GFC) on the level of corporate social responsibility disclosures (CSRD) in the annual report and/or CSR report of 36 major listed Portuguese companies in each of the years 2005, 2008 and 2011. Design/methodology/approach The analysis is framed principally by stakeholder theory. Data were explored using thematic content analysis and an index of disclosure calculated by year, industry type (consumer proximity versus environment sensitivity) and category of information. Findings Before the GFC, Portuguese listed companies increased their CSRD practices significantly. During the crisis, there was a slight decrease in CSRD. However, this was not as pronounced, as it would otherwise have been because it was counteracted by increased disclosures of company interactions with society, particularly in matters of corruption prevention and community engagement. CSRD was higher for companies with high consumer proximity but did not appear to be influenced by companies’ level of environmental sensitivity. Originality/value The results reveal a strong concern by companies for stakeholder management (particularly in respect of community relations) in a period of financial crisis. This study highlights the effect of a company’s proximity to consumers on levels of CSRD.

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

ASPEK ETIK DAN SISTEMIK DALAM EKONOMI DAN BISNIS ISLAM

ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto
Keyword(s):  
Financial Crisis ◽  
Business Ethics ◽  
Moral Hazard ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Research Question ◽  
Academic Journals ◽  
Lehman Brothers ◽  
The World ◽  
The Global Financial Crisis

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 

Mobilising resiliency in times of economic hardship: Emerging themes in migrant worker remittance payments

2014 ◽  
Vol 7 (2) ◽  
pp. 159-167
Author(s):  
Kevin Garlan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Migrant Worker ◽  
Economic Hardship ◽  
Priority Areas ◽  
Mobile Payments ◽  
Payment Methods ◽  
The Future ◽  
Emerging Themes ◽  
The Global Financial Crisis

This paper analyses the nexus of the global financial crisis and the remittance markets of Mexico and India, along with introducing new and emerging payment technologies that will help facilitate the growth of remittances worldwide. Overall resiliency is found in most markets but some are impacted differently by economic hardship. With that we also explore the area of emerging payment methods and how they can help nations weather this economic strife. Mobile payments are highlighted as one of the priority areas for the future of transferring monetary funds, and we assess their ability to further facilitate global remittances.

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