Resource allocation, investment decision and economic welfare: capitalism, socialism and Islam
Article Abstract:
Keywords: Resources, Welfare, Economic systems, Islam, Capitalism, Socialism The main aim of this paper is to discuss the nature and scope of allocation of resources among the goods and services produced in an interest-free economy. In this paper an attempt will be made to discuss the conditions or criteria required for efficient allocation of resources based on Islamic value system. The topic of allocation of resources primarily comes within the purview of micro-economics and its related discipline known as welfare economics. Micro-economics or welfare economics mainly deals with the utilisation of resources at a particular time. It is not very concerned with the growth of resources in response to changes in time. As a result, the discussion of micro-economics or welfare economics in allocation of resources is primarily static. It is not a dynamic one.
Publication Name: Managerial Finance
Subject: Business
ISSN: 0307-4358
Year: 2000
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Economic sanctions: obstruction or instrument for world trade?
Article Abstract:
The issues, motives and consequences of economic sanctions in the global marketplace are analyzed. The analysis centers on whether or not trade and economic sanctions create a pattern toward an open market economy and globalization. Further, the analysis focuses on sanctions imposed by the US and examines their validity and usefulness in an integrated world economy. A framework to reduce the effects of sanctions in the world economy is proposed.
Publication Name: Managerial Finance
Subject: Business
ISSN: 0307-4358
Year: 1999
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