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Asad Zaman
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Islamic Economist: (Generosity & Cooperation) to replace (Greed & Competition)
Islamic Economist: (Generosity & Cooperation) to replace (Greed & Competition)

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The methodology and ideology of modern economics are built into the frameworks of educational methods, and absorbed by students without any explicit discussion. In particular, the logical positivist philosophy is a deadly poison which I ingested during my…
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out-of-box training on international finance for Pak Govt Officials
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My paper entitled “Deification of Science and Its Disastrous Consequences” makes the argument that math, science and humanities each have distinct methodologies suitable for the subject matter. These methodologies cannot be interchanged. In particular, a…
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Introduction — I wrote this essay a while ago, and I am adding this preface here to explain more about WHY I wrote it: Preface: A central problem of our age is the turning of “means” into “ends”.  It is obvious that money, by itself, is not a source of…
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Ever since the Global Financial Crisis, there have been an increasing number of voices calling for change in the economics curriculum/syllabus. However, even people who are sharply critical of mainstream (Rodrik, Stiglitz, Krugman) merely suggest minor…
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Whereas conventional economics takes the nature of man as fixed and exogenous, Islamic teachings consider humans to simultaneously possess the potential for being better than angels and also for being worse than animals. Given this dual nature of man, the…
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Originally posted on An Islamic WorldView: In Fall 2017, I taught the standard Ph.D. first semester course on Micro-Economics using an Islamic Approach. The first lecture, summarized below, explains why an Islamic approach makes a huge difference to the…
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This is the second lecture on Understanding the Rise and Fall of the Gold Standard — shortlink: bit.do/azifa2 — we start with a  Summary of First Lecture  The first lecture discusses the Keynesian theory that the exact level of money in an economy is…
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In previous parts of this article, we have described how strict financial regulation and Keynesian prescriptions for full employment brought prosperity for the masses, but reduced corporate profits. This last part describes the successful counter-attack…
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In part 1 of this article (Understanding Macro: The Great Depression (1/3), we saw that Keynes challenged classical economics on many fronts. Against the classical idea that free markets will automatically eliminate unemployment, he argued that…
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