Using a geometric growth model this paper shows that, given certain assumptions, the target of reaching an annual GNP per capita equal to US $ 10,000 which Vision 2020 considers adequate for acquiring a fully developed nation’s status by that year may remains attainable despite the recent...

Exclusive writings on the contribution of Ibn Khaldun to economics in the English language have not been many, the references to his work also remain scanty and far between. Even in what little is available mostly authors talk about his views on professions, markets and the cloud he castes on...

Malaysia is a small country but has big achievement in economic development to its credit. This year (August 2007) the country celebrates the completion of the first 50 years of its independence. It is in the fitness of things that this paper takes a look at its economic achievements over the...

The nature and pace of economic progress in a country depends, among others, on the venturesome qualities of its people. The development of entrepreneurship has, therefore, been taken as an important element in human development sphere in Malaysia. In fact, the Malaysian Government has...

This paper discusses three issues - worldview differences, revelation-reason relationship, and the question of methodology - important for Islamizing knowledge in the field of economics and presents also the outlines of an agenda for action. Western worldview separates the mundane from the...

This paper treats the emerging new world order not as a thing by itself but as a continuation of the age long gospel of laissez faire or freedom of trade. That freedom eventually resulted in the colonial exploitation of vast tracts of land by the European powers. The same desire to dominate the...

This paper attempts a broad appraisal of the literature on macro consumption function in Islamic economics. It starts with a brief look at the microelements of the concept and clears several cobwebs concerning wants and needs, scarcity of resources, the basket of goods, and the efficacy of...

This note explains the circumstances that created the recent economic turmoil in Dubai. It analyses the consequences of the bailout the government ultimately enforced. It questions the role rating agencies play in such crises and suggests regulation of their activities. Finally, it warns of...

This paper raises the issue of an initial structure-objective mismatch in the launching of Islamic finance. The abolition of interest and promotion of growth with equity were goals of the conceived system. These goals expressed a long run vision to improve the condition of the Muslim communities...