Re: Islamic Economics

On Feb 25, 7:01=A0pm, "Zuiko Azumazi" <zuiko.azum...@xxxxxxxxx> wrote:

Why are you singularly "worried" about Dubai in the global financial mark=
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meltdown? As a non-Muslim, I would have thought you would have been=3D20
reassured, even overjoyed, by such "5-year notes at 4%" and the earnest=
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efforts by so-called Islamic countries to ameliorate the downside effect =
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this American led collapse in the world's financial system, and,=3D20
consequently, free-market confidence. Is that undoubted greed and unfette=
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avarice then Christian Economics at work? Yes, it's surely a sinful world=
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if that's what you are morally "worried" about.

I want to know whether Islam offers an economic theory that is a
viable alternative to current academic economic theory.

The problem is that I cannot determine what Islam is offering as an
economic theory. The suspicion arises that Islam has no viable
economic theory. That would be sad because current academic economic
theory doesn't appear to be working.

Incidentally there is no such thing as Christian economics. There
isn't even a Catholic economics although all the recent popes have
denounced capitalism. Economic theory is relentlessly secular.

The shock I felt at the news from Dubai is the realization that even
the UAE, who have always impressed me as the most rational Arabic
nation, drops back to secular economics when the going get tough.

I don't know about those Dow indexes. I don't follow the stock market.
I consider it gambling.

If I have some free time, though, I will research them.

The two main impacts Islam would/should/might have on the rest of the
world are economics and law. I remain frustrated that in neither case
can I discover that Islam offers any viable proposals. I was worried
about Pakistan because they seemed to be undertaking a change in laws
that struck me, from the media accounts, as improbable and/or
unworkable. Then Dubai came along and impacted on the other question -
economics.

How can anyone - Muslim or non-Muslim - take a meaningful stance on
the religious question without understanding what is being proposed?

Oh sure, millions of people do. I have trouble grasping how they do
it.

.

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