This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income...

This article argues that the financial crisis Malaysia faced in 1997-1998 was not home grown. It was the result of heightened currency speculation in the region, Malaysia was essentially the victim of contagion. The capital controls and pegging of local currency to US dollar were better...

We present a restriction on the domain of individual preferences that is both necessary and sufficient for the existence of a social choice rule that is continuous, anonymous, and respects unanimity. The restriction is that the space of preferences be contractible. Contractibility admits a...

In this paper I describe certain results that were obtained in the UNITAR project based on a model I have specified for studying the relationship between international terms of trade and domestic income distributions of the exporting countries within the South. In particular, I shall concentrate...

We study properties of the solutions to a parametrized constrained optimization problem in Hilbert spaces. A special operator is studied which is of importance in economic theory; sufficient conditions are given for its existence, symmetry, and negative semidefiniteness. The techniques used are...

This paper develops a dynamic model of North-South trade in which environment plays an important role. Our model is based on Chichilnisky North-South model for the macroeconomic interaction between two sectors of the world economy. The latter was introduced in a static context. We introduce...

Oil price behavior has changed dramatically in the last twenty years. These changes can be explained rather simply in terms of the delayed responses of supply and demand to prices, and in terms of changes in the rate of discovery of reserves. This analysis can be used to forecast possible future...

Over the past few decades Islamic finance has been the fastest growing segment of the global system. The fast growing market has necessitated corresponding expansion of education and training facilities to increase appropriately the supply of skilled manpower. This called for a stock taking of...

This paper revisits the aggregation theorem of Chichilnisky (1980), replacing the original smooth topology by the closed convergence topology and responding to several comments (N. Baigent (1984, 1985, 1987, 1989), N. Baigent and P. Huang (1990) and M. LeBreton and J. Uriarte (1900 a, b)....

The paper proposes two axioms that capture the idea of sustainable development and derives the welfare criterion that they imply. The axioms require that neither the present nor the future should play a dictatorial role. Theorem 1 shows there exist sustainable preferences, which satisfy these...