Category: Articles on Islamic Economics

14.09.2017

Salman Ahmed Shaikh A great number of empirical studies now challenge the position of conceptualising human behaviour only in the framework of a rational, utility-maximizing homo-economicus. Yet, this framework is used for the purpose of simplicity and tractability in situations […]

30.04.2015

Danial Pirani In modern times, interest is regarded as the base for the stability of an economy. Nearly all institutions are, in one way or the other, connected to the interest based transactions. Interest is considered as an incentive to […]

30.04.2015

Salman Ahmed Shaikh Mathematical tractability has restricted economic analysis of consumer behavior within a confined boundary of certain axioms. Often, these axioms are found to be empirically false. Even more importantly, these axioms and the analytical framework based on them […]