Tag Archives: Business Cycles

Development from Islamic Economics Perspective

Salman Ahmed Shaikh In neoclassical growth theories, the emphasis is on increasing savings and technological progress which brings about increase in capital per worker and eventually output per worker. In ‘endogenous growth theory’ models, more sophisticated work has been done … Continue reading

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Analysis of Ethical Dimension of the Great Recession (2007-2010)

Salman Ahmed Shaikh The negative effects of ethical emptiness in Capitalism have become more prominent in contemporary economic and financial crises. Lack of an ethical base, unrestrained pursuit of self-interest in production as well as in consumption and interest based … Continue reading

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A Brief Note on Automatic Stabilizers in Islamic Economic Framework

Salman Ahmed Shaikh Non-discretionary fiscal policy with automatic stabilizers can help in stabilizing the business cycles. Below, we discuss how the institution of Zakat can act as automatic stabilizer in an Islamic economic framework. Institution of Zakat as Automatic Stabilizer … Continue reading

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