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CNMT (Classical Neoclassical Monetary Theory) has defined monetary policy and the role of Central Banks for the last one hundred years. This book argues that it is time to change. It proposes a NMT (New Monetary Theory) which argues that Central Banks should be responsible for the whole relation...
Persistent link: https://www.econbiz.de/10015214321
of given, scarce resources. The neoclassical school argued that the distribution was efficiently solved by the price … and proper distribution policies are still required. Institutions cannot replace markets, the price system is very …
Persistent link: https://www.econbiz.de/10015214333
From ancient times to the modern world, "The Shortest History of Economics" (published in the United States as "How Economics Explains the World") discusses the hidden economic forces behind war, innovation and social transformation. It traces how capitalism and the market system emerged, and...
Persistent link: https://www.econbiz.de/10015214595
This paper traces the evolution of the concept of capital in economic literature––from the ‘fund’ concept prevalent in pre-classical and classical writings to the stress on ‘physical capital’ in neoclassical literature and finally to ‘human capital’ in endogenous growth theory....
Persistent link: https://www.econbiz.de/10015216246
Abstract This author sheds some light on the theoretical arguments on the use of selectivity and uniformity of trade policy in trade and industrialization for targeting industries and firms and provides a brief historical review of practices of developed countries and East Asian countries with...
Persistent link: https://www.econbiz.de/10015216744
The inspiration for the present note comes primarily from a statement in the old edition of the Encyclopaedia of Islam. In its volume four on page number 595, Heffening (1934) states that to Helmut Ritter ‘the whole economic literature of Islam can be traced to economics of Neo-pythagorean...
Persistent link: https://www.econbiz.de/10015218801
In an attempt to investigate Muslim economic thinking in the 12th century Hijrah, corresponding 18th century AD, the present paper explores economic ideas of one of the greatest Muslim personalities of the period, Muhammad b. Abd al-Wahhab (1115-1206/1703-1792), who is commonly known as...
Persistent link: https://www.econbiz.de/10015218809
Kharaj (land-tax) has been a controversial subject since the formative period of Islamic jurisprudence. It is said that Muslim jurists have been very conservative while dealing with the subject of kharaj. But this is wrong perception or opinion. The Controversy have mainly been revolved around...
Persistent link: https://www.econbiz.de/10015218832
In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially...
Persistent link: https://www.econbiz.de/10015218918
This paper investigates the state of Muslim economic thinking in the 17th century (11th century AH), through the works in Arabic language, within the territories under the Ottoman rule. It also looks into those written in other parts of the world or in other languages, where translations were...
Persistent link: https://www.econbiz.de/10015219022