Tag: Karl Marx

Moral Reflections on Economics, Vol 5, Issue 5

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May 2025 issue (Vol 5, Issue 5) of Moral Reflections on Economics features

 Remembering Prof. Khurshid Ahmad

 Labour in Comparative Economic Systems by Salman Ahmed Shaikh

 Highlights of Global Energy Review Report 2025 by Muhammad Hammad

 Book review of Methodology of Islamic Economics edited by Syed Agil and Aidit Ghazali

 Research paper in focus on Monetary Policy and Islamic Banking by Zakaria Savon and Abdellah Yousfi

 Reflections on “Control Over Past and Present”

 Regular sections of market news, economic and financial indicators and call for papers.

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Limitations of Mainstream Economics

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The mainstream economics we know now is an even more perverted version of Smith’s work. In an earlier book ‘The Theory of Moral Sentiments’, he argued that societal and moral sentiments are important to exercise self-control. He also believes that government should be necessary in supporting the moral framework such as providing education to the poor. This part of his work is generally ignored in mainstream economics framework while the idea of self-interest shines eminently.

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