Further reflections on the behavioral norms of Islamic economics

Article Abstract:

Kuran's work on the behavioral norms of Islamic economics emphasizes the unrealistic expectations of several Islamic economists regarding the potential effectiveness of norms in a complex economy. These economists exaggerate the possibility of achieving order and cooperation solely from internalized norms. The social virtues of altruism are overrated while those of selfishness are underrated. In addition, Islamic economics does not have any empirical evidence regarding a large society whose economic successes are attributed to internalized norms alone.

Religion, Religion and economics

---

Behavioral norms in the Islamic doctrine of economics: a comment

Article Abstract:

Timur Kuran's 1983 work titled 'Behavioral Norms In The Islamic Doctrine Of Economics' has several functional inaccuracies and misrepresentation. The work may appear to have been written without considering several relevant material that contradict Kuran's contentions. Islamic banking and economics has surged since Kuran's paper was published. This may be attributed to the rationality and effectiveness of Islamic banking, which is based on actual experiences of Muslim and non-Muslim nations and is supported by empirical proof.

Islam

---

The logic of financial westernization in the Middle East

Article Abstract:

The impact of Islamic law on financial modernization in Middle East in 19th century is examined.

United States, Commercial Banks, Government expenditures, Middle East, Economic policy, 19th century AD, Islamic law

Similar abstracts:

• Abstracts: Fuzzy inductive reasoning, expectation formation and the behavior of security prices. Trigger-target rules and the dynamics of aggregate money holdings
• Abstracts: From efficient markets theory to behavioral finance. Religion and economy. The efficient market hypothesis and its critics
• Abstracts: Revisiting the line-of-business restrictions. Monopoly and the problem of the economists. Sibling rivalry: the competition among the Baby Bells

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.