economics Tag

Posted On May 16, 2017By HoudiniIn Articles

The Economic School You’ve Never Heard Of

Mainstream economics is under heavy pressure. Consistently wrong policies and forecasts have damaged the field dubbed “the dismal science.” But what do critics propose should supersede the prevailing neo-Keynesian and neoclassical schools? Almost all alternative economists are calling for more government involvement to “fix” the free market and make it work better. But there is one school of economics, once prevalent in academia until it was pushed into obscurity, that places the power to fix the world’s problems in the hands of the people. “Economists err if they forget that economic life existed beforeRead More

Posted On April 3, 2017By Mohd Faizal Mohd NorIn Featured Writers

Islamic banks; are we discussing the real issue?

This week alone, I came across a few articles and tutorial videos from prominent figures in our country. One side was arguing that the aqad of specific transactions practiced by most Islamic banks are prohibited or haram, while the other side is advocating the current practice of Islamic banking. Unfortunately, none of the scholars ever mentioned the problem lies with the banking system itself. In one of the tutorial videos I have watched, this famous scholar explained how banks (including Islamic banks) function as financial intermediaries to fill the gapRead More
NEW YORK, 1 Feb 2017: The US dollar tumbled yesterday, headed for its worst start to a year in three decades, while stocks dipped as president Donald Trump added uncertainty to the market following stringent curbs on travel to the US from seven Muslim-majority countries. Comments from Trump’s top trade adviser Peter Navarro that Germany was using a “grossly undervalued” euro to gain advantage over the US knocked the US dollar in early North American trading. Trump followed up on those comments in a meeting with the chief executives ofRead More
By: Farhah Aziz Zimbabwe; a landlocked country known for Victoria Falls, Robert Mugabe and indeed the hyperinflation crisis. Who hasn’t heard of the infamous phase of hyperinflation crisis plaguing the country in the late ‘90s stretching into early 2000s? The annual inflation rate was indeed extremely staggering with a record high, 500 billion per cent as of 2009, ranked the highest in the world. So, what has caused this economic chaos to happen in the first place and where is this southern African economy heading to in the future? “Indigenization”Read More