economic thinking

Top PDF economic thinking:

Aspects of Muslim economic thinking in the eleventh century (AH)/seventeenth century (CE)

Aspects of Muslim economic thinking in the eleventh century (AH)/seventeenth century (CE)

The period of study covered in this study is one of the most neglected parts of Muslim history. This negligence is most obvious in the area of the history of economic thought. To the best of our knowledge no study is available on Muslim economic thinking in the seventeenth century. We hope that this study fill a gap, to some extent, in the literature on history of Islamic economic thought and will prove a starting point for further researches. It is said that economic thought is reflection of the economic conditions. This is most correct in case of 11 th /17 th century Muslim economic thinking. Thus, in the period under study Muslim economic thinking revolved around the problem faced by the society at that time. The focus of Muslim economic thinking in the period was on public finance, monetary reform, agrarian relations, and cleansing the economy from corruptions which was the main obstacle in the way of progress. These aspects of the problems are the main sections of this paper.

12 Read more

Muslim Economic Thinking and Institutions in the 10th AH/ 16th CE Century

Muslim Economic Thinking and Institutions in the 10th AH/ 16th CE Century

over a thousand for larger scale high-quality work (Kellenbenz, 1977, p. 181). One can imagine how efficient and fast communication was possible in Europe at a time when students in Muslim world spent hours and hours in tedious work of copying texts. Printing made it possible to reproduce the maps in quantity. This also promoted voyages in Europe towards the end of fifteenth century and later periods. In Europe as Sella (1977, p. 381) states: "The printing industry, for its part, effectively contributed to making more books available and accessible to its public by parting cost, expanding output, and improving marketing practices and methods." But in the Muslim world ulama as well as rulers forbade the use of printing press. Here is an example of their opposition to printing press. As early as 1481, in the reign of Bayezid II, the Jewish refugees from Spain wanted to set up a printing press but were refused permission. The Shaykh al-Islam ruled against it for fear that the Qur’an might be printed. It was not until 1721 that the Sultan allowed anything to be printed in Turkish. Even though the Persians were liberal in such matters than the Ottomans, there was also not much to show in this regard. Both Turkey and Iran remained intellectually impervious to the West. It may be noted that invention of the printing press is considered by many writers as one of the important reasons for economic transformation in early modern Europe (Sella, 1977, p. 382). While discussing various ‘changes which led from the particularist, feudalist economy to the growth of commerce between large, wealthy, and powerful nation-states’ Eric Roll (1974, p. 55) observes that ‘the invention of printing created new possibilities of intellectual intercourse’. Opposition to printing narrowed, if not closed, the doors of scientific institutions and intellectual development of Muslim mind. Lewis (1982, p. 224), says that the saying of the Prophet (p.b.u.h), “whoever imitates a people become one of them” was sometimes used to block such westernizing innovations as technology, printing, and even European style medicine.

223 Read more

A study of Muslim economic thinking in the 11th A H  / 17th C E  century

A study of Muslim economic thinking in the 11th A H / 17th C E century

Corruption also fueled the economic decay. Offices were regularly 'bought and sold without regards to ability' (Perry, 1980, p. 120). 'Many important posts were given to unqualified people and administrative appointments often went to the highest bidders' (Kurat, 1976, p. 159). It may be noted that corruption and sale and purchase of official posts were two common evils of the decaying Mamluk rule in Egypt and Syria that facilitated their take over by the Ottomans (Ibn Iyas, 4: 353, 371, 378, 477; Ibn Tulun, p. 216). In the opinion of Perry (1980, p. 120), 'the increasing diversion of trade by Dutch and English merchants to sea routes furthered Ottoman economic decline. Perhaps even more basic was the fact that conquest – with its accompanying booty and opportunities to acquire new fiefs – had reached its limit, and war now was an expensive rather than a lucrative activity'. Unfortunately, the Ottoman rulers did not exert themselves to find real alternative sources of income. Rather 'a decline in sources of revenue brought excessive, arbitrary taxation and debased coinage' (ibid. p. 120). Commenting on 'the technological backwardness of the Ottoman Empire – to its failure not only to invent, but even to respond to the inventions of others', Lewis (1968, p. 32) remarked: "While Europe swept forward in science and technology, the Ottomans were content to remain, in their agriculture, their industry, and their transport, at the level of their medieval ancestors. Even their armed forces followed tardily and incompetently after the technological advances of their European enemies".

110 Read more

Farm economic thinking and the genetic improvement of fertility in northern beef herds

Farm economic thinking and the genetic improvement of fertility in northern beef herds

It would take time and space to list the errors made by Fennessy et al. (2014) and Edwards et al. (2103) in their respective analyses. Both papers have value in so far as they present text book quality examples of how not to identify the economic value of the genetic improvement of livestock at both the level of industry and property. The overriding concern is that both were funded and supported by significant research organisations responsible for the allocation of large amounts of industry and government (taxpayer) funds to beef research activities. We would reinforce the message that looking at components of herd management in isolation (such as genetic improvement) will not reveal a true picture of the nature of the problem. Gaining a full appreciation requires a ‘whole of property management’ or farm management economics approach to be effective, an assertion also made by Foran et al. (1990) and Henderson et al. (2012).

37 Read more

Economic thinking and ethics: an ethical approach for economical issues

Economic thinking and ethics: an ethical approach for economical issues

Morality has long been associated with rules, especially in Germany. Of course, that is not a completely incorrect concept, because the ideas of morality typically manifest themselves in rules. For example, in the case of Germany, this may be caused by the ordoliberal tradition, which is connected to the economic style of the Soziale Marktwirtschaft. However, these discussions do not provide a real answer to the question of what was originally required. Different kinds of rules may be discussed as to whether they are moral or not, but there is no answer to why something is to be characterised as “moral”. The question of morality only shifts to another subject area.

18 Read more

The frame of reference for new economic thinking

The frame of reference for new economic thinking

With globalization, national economies have become heavily dependent on each other, because they become parts of single world economic organism. Inflation, unemployment, financial crises spread by a chain reaction from one country to another. But regulation at the national level, cannot cope with the problems generated at international level. Because of excessive polarization of world on poor and rich countries and pumping of world resources from one to another, the development of both is constrained. Because of low resource prices and incomes of poor countries, these countries’ ability to pay is insufficient to present demand to rich countries for their products, which would match to their production possibilities. The optimal balance between world prices for products and resources is violated. The optimal economic flows between countries, as the subjects of global economy, cannot be formed. The integrity of global economy as a single organism is violated. The gap between the economic flows from poor to rich countries and from rich - to poor, is filled by "paper". Only on FOREX market the daily turnover is 4 trillion dollars. The lack of demand is filled up with huge scales of consumer credits. Financial flows live by independent life and under the own laws. These are huge financial flows, characterized by extreme sensitivity, unpredictability and large-amplitude fluctuation. In the end, the current world economic crisis was also provoked by instability of financial sector. The lack of demand is filled also with expensive military programs. In circumstances, where the third of humanity lives in poverty, all this is not only immoral, but from purely economic point of view, such polarization, both on national, and at international level, has become an obstacle for economic progress. The optimal functioning of economy does not imply such polarization, but only maintenance of optimal proportions between economic flows. To solve these problems is impossible without effective regulation of economy.

193 Read more

Download
			
			
				Download PDF

Download Download PDF

A few of the economics teachers have never studied economics at all in college or university, and many of them have had difficulties in teaching eco- nomics in class. In general, they have an egalitarian view about economic issues, such as people’s income and living standard in particular, they are critical of money game and moneymaking, they do not have much trust in the market mechanism, they consider government’s intervention in the market to be correct or want to prevent such undesirable results of the free market transactions as economic disparity and money game, and they have incon- sistent opinions between a free, competitive market and its consequences and between domestic trade and international trade.

10 Read more

Morality and Value Neutrality in Economics: A Dualist View

Morality and Value Neutrality in Economics: A Dualist View

the optimal Gini coefficient for a society? ” logically, it is always followed by another question like “ optimal in which sense? ” There are surely a number of candidate criteria. For instance, a certain level of Gini coefficient can be seen as optimal in the sense that other things being equal, it can lead to the highest economic growth rate, or to longest average life expectancy, or to lowest crime rate, etc. But how should we choose and weight these different criteria of optimality? Obviously, to tackle this new question, we further need an a priori criterion that allows the comparison of these candidates. Then, the latter should be reduced to some intermediary or instrumental ends to achieve a single intrinsic end of higher order (also see Footnote 5). In other words, some common metric is needed to measure those candidate criteria or intermediary ends, thereby making the comparison possible. Yet, there is a cautionary note that any particular end, like desire for equality, should not always be taken as ultimate or intrinsic in itself. The reasoning above would indeed continue until the investigators are, more or less reluctantly, satisfied with certain kinds of free argument. The latter may be borrowed from other disciplines including ethics, or even be given arbitrarily.

18 Read more

Meaning and Philosophy in the Hungarian Economic Terminology

Meaning and Philosophy in the Hungarian Economic Terminology

We have to find and sort out the real Hungarian idioms from the fashionable phrases of language. Not because we should use archaic words today, but we must show that we can get rid of our new word adoptions and speak a Hungarian language without unnecessary international phrases and words (for example: ekvivalens=egyenértékű, egyenlő /equivalent; korrigál=kiigazít, helyrerak/correct; komplementer=kiegészítő/complementary; kaució=letét /caution; szektor=gazdasági ág /sector; transportál = fuvaroz, szállít /transport ect.). And last but not least we should make sure of our economic traditions in order to get self-confidence out of the history of economy reflected in the language.

9 Read more

Thinking headteachers, thinking schools

Thinking headteachers, thinking schools

In this way we explored how far the vision and the headteacher’s view of the school was shared, to assess the impact of the head on their school and to look at specific leadership issues. We each examined the data from the interviews for commonalities and emerging patterns. We looked particularly for indicators that showed a specific focus for each school on thinking and learning to learn. We increased the reliability of their findings by allowing others to review our interpretations. In our case we grounded our interpretations by working independently then reviewing each other’s work. We were fortunate to be able to use Professor Robert Fisher to review our ideas as we progressed, modify our research through informed debate.

6 Read more

Beginnings to a political philosophy of international development : epistemology and the limits of reason

Beginnings to a political philosophy of international development : epistemology and the limits of reason

developing nations. There was a recognition that newly developing states, and those states who had been ravaged by war time would not be able to recover if they did not have the capital available to invest in industry and raw materials. On the part of the U.S there was a real concern that if countries, particularly the formerly wealthy and industrious European countries, were left to their own devices they would, in the words of Assistant Secretary Dean G. Acheson become a “Europe turned in on itself attempting to organize itself on the basis of two enduring factors, land and labor” (Bretton Woods Agreement Act, 1945, p.21). In such a situation, these countries would “have to indulge in every kind of restrictive practice to force their exports on other people and to get such imports as they vitally needed (Bretton Woods Agreement Act, 1945, p. 22). This was unacceptable to the U.S as it was these types of restrictive practices which had been blamed for the Great Depression and the conditions which gave rise to the fascism and totalitarianism that led to War (See Lukes, 1997, p.29; Hitchcock, 2003, p. 1-125; Schild, 1995). From the U.S. perspective, if the world was going to avoid the pitfalls of an over-regulated and restrictive economic system, the U.S. would need to step up and provide the leadership and financial backing necessary to restore faith in the capacity of free-market capitalism to provide development and prosperity for all the world’s nations. Pursuing a programme of international development was to be an important part in this mission (See Gilman, 2003, ch. 3 for a more in-depth discussion of development in relation to U.S hegemony).

136 Read more

Threats to Global Health and Opportunities for Change: A New Global Health

Threats to Global Health and Opportunities for Change: A New Global Health

diplomatic, economic, and military power plays, and face the real challenges: the warming climate, the global divides (e.g., population growth, social and health inequity, migration, trade, security) and the missed opportunities (e.g., the recognition of health as a basic human right, the Millennium Development Goals, the implementation of the Alma-Ata Declaration on Primary Health Care, the improvement of global aid mechanisms, the strengthening of good governance). This will not become possible without a strong involvement of the civil society. Already by now, about 25 percent of the DAH is channelled through NGOs and this number is increasing. However, NGOs should not only be accountable to their clientele, but also to society in general. Therefore, a code of conduct for NGOs is a fi rst main recommendation and requirement.

36 Read more

Schumpeter, the Banking System, and Innovation: Small versus Big Business

Schumpeter, the Banking System, and Innovation: Small versus Big Business

In his debate with Schumpeter, Sweezy contended that the main reason for an economy stagnating and slipping into a recession or depression was a lack of accumulation of surplus value, not a lack of new innovation or entrepreneurism (Foster 2011). According to Sweezy, it was true that entrepreneurship and innovation allowed for the absorption of economic surplus through acting as channels for the investment of surplus, but what really triggered layoffs and downturns was the lack of investment outlets for surplus garnered by the capitalists. For Sweezy, profits chased after innovation whereas for Schumpeter, entrepreneurs through their innovations were chasing after profits. Entrepreneurship was never a focal point for Sweezy in his writings,

19 Read more

Models for the European Neighbourhood Policy: The European Economic Area and the Northern Dimension. CEPS Working Documents No. 218, 1 February 2005

Models for the European Neighbourhood Policy: The European Economic Area and the Northern Dimension. CEPS Working Documents No. 218, 1 February 2005

The EEA states are also engaged in more traditional types of international cooperation with the EU through the EEA Agreement, participating in dozens of EU-led programmes and initiatives. They also participate – as full participants, associates or observers – in the work of the growing number of Community autonomous agencies, either through the EEA, or through separate bilateral arrangements. The ENP Strategy Paper (European Commission, 2004) calls for increased participation in EU programmes and expansion of programmes on and including the countries of the new EU Neighbours Policy, for instance through opening the European Research Area (ERA) which is now being established. The ENP Strategy Paper is hesitant towards the idea of participation in Community agencies, but envisages a “gradual opening of certain Community programmes” to the ENP countries. One of the main slogans of the Prodi Commission on the ENP has been ‘Everything but institutions’. According to the 2003 Communication, the neighbours are not to have “a role in the Union’s institutions” along the lines of the various models of participation accorded to the EEA countries. Combined with the relatively limited economic integration envisaged, the ENP that emerges falls far short of the EEA agreement.

16 Read more

Inside the Scottish workplace : employee perspectives from the 2004 Workplace Employment Relations Survey

Inside the Scottish workplace : employee perspectives from the 2004 Workplace Employment Relations Survey

By way of a preliminary examination of the data set to test for possible statistical associations between the two sets of variables of relevance, each question/statement response was cross tabulated by the ‘Scotland’ –‘Rest of Great Britain’ dummy variables. Pearson chi-square statistics established a statistically significant association (at p < 0.05) between the ‘Scotland’ and ‘Rest of Great Britain’ dummy variables and responses to the following questions: “thinking about the past few weeks, how much of the time has your job made you feel ‘relaxed’ ”? (p = 0.031): “in general, how much influence do you have over ‘the order in which you carry out tasks’ ”? (p = 0.035): “how satisfied are you with ‘the scope for using your own initiative’ ”? (p = 0.029): “how satisfied are you with ‘the amount of influence you have over your job’ ”? (p = 0.028): and “how satisfied are you with ‘the amount of pay you receive’ ”? (p = 0.001). Again, see the original working paper for fuller details. 2007).

8 Read more

DETERMINANTS OF LATENT PROFILES IN HIGHER-ORDER THINKING SKILLS OF KOREAN UNIVERSITY STUDENTS

DETERMINANTS OF LATENT PROFILES IN HIGHER-ORDER THINKING SKILLS OF KOREAN UNIVERSITY STUDENTS

Figure 3. Means of item scores per LCA class of higher-order thinking skills. Figure 3 outlines the latent profiles produced. The characteristics of each type of profile are as follows: First, Class 1 showed low scores in most indicators including analysis, argumentation, dialectic and caring compared with other groups. This class can be termed "a lower-order thinking class." 169 students belonged to this class, accounting for 15% of all students. Class 2 earned relatively high scores, ranking second in creativity, argumentation and dialectic among all classes, but its caring score was relatively low. This class can be named "a creative and argumentative class." 330 students, or 29% were in this class. Class 3 had high scores in analysis, argumentation and caring and relatively low scores in creativity and dialectic. Given the high construct correlation between creativity and argumentation among the lower HOTUS scores, this group can be understood as having weak creative and divergent thinking but having exceptionally strong analytical and caring mind. Therefore, it can be called "an analytical and caring class." This class had 290 students, which comprised 25% of the total number of students. The last class is the so-called "higher-order thinking class" whose scores were high across all subconstructs. 349 students belonged to this class, accounting for 31% of the total number of students.

16 Read more

THE CONCEPTUAL FOUR-SECTOR MODEL OF DEVELOPMENT OF THE COGNITIVE PROCESS DIMENSIONS IN ABSTRACT VISUAL THINKING

THE CONCEPTUAL FOUR-SECTOR MODEL OF DEVELOPMENT OF THE COGNITIVE PROCESS DIMENSIONS IN ABSTRACT VISUAL THINKING

Generally, relations captured within the conceptual four-sectoral model of cognitive dimension development with an emphasis on students' motivation can be explained by the following causality, based on the results of the empirical research and generally accepted knowledge (Barrett & Moore, 2012; Liu, He & Li, 2015; Savin-Baden, 2004; Subroto, 2015; Watkins & Biggs, 2001): Teacher's competence significantly influences the student's motivation for the given economic subject, and since the expertise is in correlation with the other teacher's competences (see correlation coefficient values) then motivation is influenced by other monitored competencies (to explain curriculum, development of thinking, communication and presentation skills). This is consistent with the research (Al-Baddareen, Ghaith & Akour, 2015), which has shown that students with a deeper understanding of information have higher academic motivation than those who have a good test performance. A target orientation categorized into: (a) mastery goals; (b) performance goals and their impact on academic achievement plays a role as well. Gul & Shehzad, (2012) have empirically proved that targeting goals on solutions, challenges, or just getting good grades does not affect academic achievement. The poor relation between academic achievement and target orientation may be due to a discrepancy between the ways of thinking and the goals to which students are led and their ways of thinking and the goals they want to achieve themselves. This is why motivation is very important, it stimulates the development of creativity (Liu, He & Li, 2015), as well as a balanced teaching style supporting the development of both hemispheres (Subroto, 2015) and problem-solving teaching (Subroto, 2015; Zoller, 2015). Nevertheless, the authors' research (Gul & Shehzad, 2012) was not made in terms of the differentiation of students according to the intellectual level in the level of abstract- visual thinking, so it was not possible to identify concrete educational needs and possible causes of good or bad results at school according to students' skills needed for studying. However, the results of the research have shown that the development of creativity can be achieved by students with an above average intellectual level.

19 Read more

The Remarkable Place of the UV Curve in Economic Theory

The Remarkable Place of the UV Curve in Economic Theory

The work of DDM as well as theoretical analyses by Holt and David (1966) and Gordon (1966) inspired a series of empirical studies in the late 1960s and throughout the 1970s, estimating the relation between unemployment and vacancies. Cohen and Solow (1967) found a stable relationship between unemployment and vacancies, 16 however, almost immediately after Cohens and Solows publication other empirical studies found supposed ‘breakpoints’ in the UV-curve, suggesting shifts of the curve further or closer to the origin corresponding to higher or lower levels of structural unemployment. This obviously raised questions about the stability of the UV-relation and the usefulness of the UV-curve as a structural relation for economic analysis and measurement, and resulted in an enormous amount of empirical studies since the 1970s with an abundance of specifications of the UV-curves all of which incorporate additional variables, dummy variables or lagged variables. The discussion took place roughly speaking following national boundaries. The discussion in the USA focused on the behaviour of the Help-Wanted Index 17 – as a proxy for vacancies – in relation with unemployment for US data for the period 1951-1966. 18 Cohen and Solow (1970) find a systematic pattern connected with business cycle fluctuations. During downswings the regression overestimates the HWI and underestimates it in an upswing. This phenomenon, confirmed in almost all later empirical studies, reveals ‘counter clockwise’ loops in the UV-relation (see Figure 9). The generally accepted explanation was that vacancies respond much faster to changes in aggregate demand than unemployment does. The adjustment process of labour is just more time consuming than the posting of a vacancy. The finding of these ‘counter clockwise loops’ was obviously of economic interest, and in a certain way even reassuring since they could be related with the ‘loops’ found in the Phillips-curve. But the loops made precise observation of shifts rather difficult.

35 Read more

Creative thinking as an innovative approach to tackle nutrition in times of economic crises

Creative thinking as an innovative approach to tackle nutrition in times of economic crises

Our session showed that within the limits of a conference, parallel sessions can be organized in a different and productive way. On average 140 people (with a constant amount of 120 people and the remainder being a flow of entering and leaving) participated in the ENLP session. Participants were surprised with the concept, generally in a positive manner, but sometimes with a negative connotation. Based on the feedback that the organizers of the session received, one could deduct that the negative connotation originated from participants’ dislike regarding the interactive aspects (including participation, sharing thoughts, expose themselves to others). They preferred the classical ex cathedra colleges in which room for debate or interaction is much smaller. From the positive feedback it was noticed that the majority of the participants appreciated the new approach because (i) it was a good learning opportunity, (ii) a surprise session, …. The objective of this session was to construct knowledge within the individual and not just transferring knowledge. We aimed to activate the participants in the process of creative thinking by offering tools and methods which the participants needed to control and apply.

16 Read more

Social enterprise as a socially rational business

Social enterprise as a socially rational business

The above model draws on the concepts of economic rationality and social rationality (Ridley-Duff, 2005). These should not be confused with rational choice theory (Homans, 1961, Blau, 1964, Coleman, 1973), although there are some overlaps. Economic rationality is here used to describe behaviour that is task-oriented and makes no presumption that tasks are pursued as a matter of self-interest. The behaviour is considered economically rational if an action deliberately affects the likelihood of completing a task (regardless of the effect on the parties involved and whether this helps task completion). For example, a deliberate act of industrial sabotage would hinder task completion, but would still have an underlying rationale.

34 Read more

Show all 10000 documents...

Related subjects