Journal of Economic and Social Thought
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Notes on the 2015 ATRS World Conference
Get PDFAbstract. In this study, the evaluation of the 19.The ATSR (The Air Transport Research Society) World Conference held between 2-5 July 2015 in Singapore will be mentioned.Keywords. Civil Aviation, World Conference, Singapore.JEL. L62, L93
Determination of Wages and Exchange Rate with Game Theory
Get PDFAbstract. In every country, wages are determined by Nash rule or governments determine wages. According to Nash equilibrium, policy of determination wages is respect to exchange rate and there is a game between NWC and MAS. In this paper, we survey a game theory method to survey policy of determination wages and exchange rate to stability economics. When exchange rate increases, import good's price rise and we have cost push inflation, therefore wages are increased and then we have unemployment. Then wages are determined respect to exchange rate changes. But in real world, some conditions affected on Nash equilibrium and wages are determined as non Nash method and government equals between benefits of workers and principals. In this paper, we survey wage making in Iran and reveal that in some courtiers such as Iran, government determines wages and create equilibrium in labor market.Keywords. Wage, Exchange rate, Nash Equilibrium, Inflation, Game theory method.JEL. Q30, Q31, Q32
On Slavery and Libertarianism
Get PDFAbstract. There is all the world of difference between voluntary and coercive slavery. The physical invasions might be identical in the two cases, but the ethical analysis of each is diametrically the opposite. The only problem with real world slavery was that it was compulsory; the slave did not agree to take on this role. Otherwise, slavery was not only “not so bad” it was a positive good, for both the slave and the slave-master, at least in the ex-ante sense, as is the case with all economic behavior.Keywords. Slavery, Compulsion, Libertarianism.JEL. K29
The Insecure Future of the World Economic Growth
Get PDFAbstract. Growth rate of the world Growth Domestic Product (GDP) is analysed to determine possible pathways of the future economic growth. The analysis is based on using the latest data of the World Bank and it reveals that the growth rate between 1960 and 2014 was following a trajectory approaching asymptotically a constant value. The most likely prediction is that the world economic growth will continue to increase exponentially and that it will become unsustainable possibly even during the current century. A more optimistic but less realistic prediction is based on the assumption that the growth rate will start to decrease linearly. In this case, the world economic growth is predicted to reach a maximum, if the growth rate is going to decrease linearly with time, or to follow a logistic trajectory, if the growth rate is going to decrease linearly with the size of the world GDP.Keywords. Economic growth; world economic growth; Gross Domestic Product; predicting future growth; exponential growth.JEL. C01, C20, C50, C53, C60, C65, C80
Economic Thought in Eighteenth CenturyAmerica Prior to Indepencence
No full textAbstract. This paper examines the state of economic thought in the United States during the time period 1700 to 1775, an era that marks the end of the colonial age for the new nation. This essay starts with an over view of economic conditions during the final phase of colonialism in America. This is followed by a discussion of American economic thinking, divided into three distinct yet overlapping perspectives: (1) mainstream economic thought, which represents the dominant point of view about economics in America prior to the end of colonial status; (2) other voices, or economic perspectives focused on particular economic issues of the time and not the general state of economic thought; and (3) a crosscurrent or contrary view to mainstream economics, a way of viewing economics and economic thinking that takes exception to the popular economic paradigm of the time.Keywords. Slavery, Compulsion, Libertarianism.JEL. K29
Integrating Zakah, Awqaf and IMF for Poverty Alleviation: Three Models of Islamıc Micro Finance
Get PDFAbstract. The objective of this paper is to present theoretical proposals for institutional structure in the context of Islamic Microfinance by first comparing Conventional and Islamic microfinance institutions and then by highlighting some of the pioneering work of conventional microfinance models that paved the way for Islamic Microfinance. In this paper, we review the literature of micro finance models that simultaneously deals with several facets of poverty by combining Waqf and Zakah principles together or individually. There are three models examined in this paper. Waqf-Based Islamic Microfinance Institutions, a Model of Zakah and Awqaf-based MF Organizations and an Integrated Awqaf and Zakah Model of Microfinance. Both Zakah and Waqf mechanisms are considered for Islamic microfinance not only because of their frameworks that are in accordance to the Shariah but they are the original concepts provided in Islam that serve people in need i.e the poor. In tandem with the doctrine of microfinance, Zakah and Waqf are seen as tools best suited to assist the poor who require financing and ultimately could be effective for poverty reduction. The paper derives recommendation for integrating microfinance models into the overall economic policy.Keywords. Awqaf Funds, Monetary waqf, Zakah, Microfinance, Islamic Microfinance and Poverty.JEL. G21, I31