Archive for 'Tag Archives: 'economics''

The Illusion of Economic Reform in the ‘new’ Middle East

The Illusion of Economic Reform in the ‘new’ Middle East

Ali Harfouch Few Words of ‘Liberty’ Liberation cannot be reduced to economic justice, political independence, or free intellectual inquiry. To do so would be to limit servitude, the antithesis of liberty, to one of many power-structures. [...]

Is the current financial crisis the end of capitalism?

Is the current financial crisis the end of capitalism?

Idries de Vries The credit crisis of 2007 and 2008, which has since then morphed into a global sovereign debt crisis, has shown fundamental flaws in the economic system of capitalism. This does not necessarily imply [...]

Response to ‘Is Islamic law to blame for the Middle East’s economic failures?’

Response to ‘Is Islamic law to blame for the Middle East’s economic failures?’

In a recent Time magazine article by journalist Michael Shuman, it was suggested that Islamic Law was the impediment for economic growth and prosperity. The basis of this claim was attributed to the work of an [...]

Introducing the Islamic Alternative to Capitalism

Can you remember the olden days when a billion was a large number? In the midst of this immense financial crisis, it is difficult to keep a sense of proportion while trying to follow the attempts [...]

Fractional Reserve Banking & the Global Credit Crisis

One of the mainstays of Western finance is the use of fractional-reserve banking. Fractional-reserve banking is the practice where banks only hold a fraction of their deposits in reserve, and use the remainder as capitol for [...]