Adam Smith is generally ignored as a trade theorist in textbooks of international economics because of the common belief that he only confirmed the rule of absolute advantages to explain structure of foreign trade. However, his vent-for-surplus approach may be interpreted as a pioneering study...

Most of the services provided by modern states to their citizens today were provided by the waqfs during the Ottoman period. The fact that the influence of Islamic religion on the social life was high was one of the most important factors driving people to establish the waqfs. The waqfs founded...