705 research outputs found
Membangun Fondasi Keilmuan Ekonomi Islam: Telaah Metodologi Muhammad Akram Khan
No full textThroughout my experience in tracking down and reading books on faith-based economics, in this case Islam, there are no books that specifically list the title of "Islamic economics". If there is, it is only initiated or introduced. Most books coming down to us still use the titles starting with the word, for example, system, concept, principle, or the doctrine of Islamic economics. Why do the authors of the book Islamic economics seem not dared to give his book title with label "science"? I presume that Islamic economics has not been considered as a science. In building a science, methodology is required. Islamic Economics also requires a well-established methodology to build the foundation of science. The study answers questions; how is methodology which is offered by Muhammad Akram Khan to build Islamic economics. The method used in this research is the study of literature with qualitative approach.The result of study concludes that Khan offers methodology of Islamic economics, if summarized, written as follows: First, Islamic economics uses a framework derived from the texts of divinity (revelation). Second, Islamic economics uses the inductive method, which gives witness to the truth or falsity assumptions and predictions about the two criteria of rationality and empirical evidence. Third, Islamic economy is built on ethical values such as justice, virtue, moderation, sacrifice, caring for others, in the analysis, as behavioral parameters. Fourth, Islamic economics is a normative discipline. Islamic Economics investigates ways and means to change the existing economy with Islamic economy. Fifth, Islamic economics ask different questions with conventional economics. Its attention is on welfare (falah) human and creating social and institutional conditions that maximize falah in society. Clearly, Islamic economics strongly supports research programs that help maximize falah. Furthermore, Khan elaborates several issues related to the methodology that often appears in the forum of Islamic economists. There are some problems that Khan proposes, they are the interaction with modern economics, the role of revelation, assuming ideal Islamic society, and the general theory of Islamic economics.</jats:p
Scarcity, self-interest and maximization from Islamic angle
No full textThis paper clarifies some misinterpretations of three foundational concepts in mainstream economics from Islamic viewpoint. These are scarcity of resources, pursuit of self-interest and maximizing behavior of economic agents. It argues that stocks of resources that God has provided are inexhaustible. But important is the availability of resources out of stocks to mankind. Availability is a function of human effort and the state of knowledge about resources over time and space. In that sense resources are scarce in relation to multiplicity of human wants for Islamic economics as well. Self-interest must be distinguished from selfishness. The motive operates on both ends of human existence: mundane and spiritual. Its pursuit does not preclude altruism from human life. Counter interests keep balance in society and promote civility. Islam recognizes the motive as valid. Maximization relates to quantifiable ex ante variables. Uncertainty of future outcomes of actions makes maximization a heuristic but useful analytical tool. The concept is value neutral. What is maximized, how and to what end alone give rise to moral issues. Modified in the light of Shari’ah requirements the three concepts can provide a firmer definition for Islamic economics centered on the notion of falah.Scarcity; self-interest, maximization, Islamic Economics, israf; Shri'ah, heuristics
Treatment of Consumption in Islamic Economics: An Appraisal
No full textThis 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 utility and its maximization for consumer equilibrium. The explanations narrow down the conceptual gaps between the micro and macro level articulations of the subject. Next, the paper reviews some selected macro models resting on division of income on the basis of nisab between the upper (rich) and the lower (poor) classes of society for analyzing the impact of zakah-moderation mechanism on economic growth via the saving-investment route. It is demonstrated that, contrary to the claim based on models, the positive impact of Islamic scheme on the variables studied is uncertain, to put it mildly. Finally, attention is drawn to some recent developments in the treatment of consumption in economics as also to interest being shown in the subject in other social sciences. This inter-disciplinary approach seeks to detach consumption from income and links it to wealth. It also brings in environmental and ethical concerns into the picture. The effort promises to bring the treatment of consumption closer in the two economic disciplines, secular and Islamic: it is a welcome development.Islamic economics; consumption; israf; zakah; income determination model
The Folio
No full textAnnual NumberVelte, Mowbray-Poetry-Dedication: Easter Morn. pp. 1; Wilson, Ross-Dr and Mrs R. M. Ewing. pp. 2; Smith, Donald A.-Editorial. pp. 3; Smith, Donald A.-Poetry-You Know There's Nought That's Born without Travail. pp. 4; Anwar Zahid-Speech-The Valedictory Speech. pp. 5-6; Shirin Nasir-Article-For the XV. pp. 7-13; Gulzar Ahmed Qureshi-Sutlej Cotton Textile Mills, Okara. pp. 14-15; Mohammad Bashir-A Trip in an East African Countryside. pp. 15-16; Saeed Karim Fazli-The Importance of Science. pp. 16-17; Amir Raza-My Ambition. pp. 17-18; Tafweez Ahmad-I Ran for a Catch. pp. 18; Desmond Saldhana-Poetry-When Joe Came to Forman College. pp. 19-20; Smith, Donald A.-Poetry-Societies: The Pin-Points of Light. pp. 21; Tafweez Ahmad-The College Union Society. pp. 22-23; Khalid Bashir-Griswold-Wilson Historical Society. pp. 23; Hamid Kamal Dahir-Political Science Society. pp. 24; Sultan Abdul Hameed-Forman Economic Society. pp. 24-25; Smith, Donald A.-Dean Geographic Society. pp. 25; Smith, Donald A.-The Fifteen. pp. 26; Aslam, M. L.-Le Cercle Francais. pp. 27; Ali Ahmad Awan-Photographic Society. pp. 27; Muhamma Akram-Benade Physics Association. pp. 28; Smith, Donald A.-Poetry-An Hour of no Shadows. pp. 29; Shah, M. Z. Babar-Sports-Athletics. pp. 30; Khan, A. Mokeet-Sports-Swimming. pp. 31; Iqtidar Hamid Bhatti-Sports-Badminton. pp. 31; Anwar Barket Masih-Sports-Basket Ball. pp. 32; Azam Rabbani-Sports-Hockey. pp. 33; Rehman Anwar-Sports-Football. pp. 34; Diyamir Lall-Sports-Tennis. pp. 35; Diyamir Lall-Sports-Cricket. pp. 36-38; Rehmat Ullah Jan-U. O. T. C.. pp. 39; Smith, Donald A.-Poetry-Farewell: The Scented Air of Silent Dreams. pp. 40; Folio [Urdu] 30 p.Mr and Mrs Ewing. after page 2; The Fifteen. after page 8; Some Photographs. after page 12; The College Union Council, 1950-51. after page 16; Editors of the Englsh Section of the Folio. after page 24; The College Union 1952-1953. after page 28; Tennis. after page 32; Football XI. after page 3
Contribution of Services Sector in the Economy of Pakistan
No full textThe services sector has provided steady support to Pakistan’s economic growth. It share in GDP now stands a more than 50 percent. The paper analyses its continuation in the growth of the economy in general and the development of trade and genera tion of employment in particular. The study identifies the bottlenecks in its growth and suggest measures to remove them. A set of policy reforms has been suggested to make the sector more effective in the growth of the national economy.Services Sector, Industry, Employment, Financial Institutions and Pakistan’s Economy
Poverty Dynamics of Female-headed Households in Pakistan: Evidence from PIHS 2000-01 and PSLM 2004-05
No full textThe paper attempts to empirically test a naïve version of what is rather stylistically termed as “feminisation of poverty”, using the sub-sample of female -headed households (FHHs) from two household surveys in Pakistan. Although, the database is constrained by quality factors and small sample size, the following findings add to the richness of current research in this area: (a) The numerical incidence of poverty among households headed by females is less than that for all households in the country, at the national, urban and rural level for both the years. This can be traced to the finding that more than 70 percent of households headed by females receive remittances, (b) The incidence of poverty among FHHs during the period 2000-01 to 2004-05 did not decline as fast as it did for mixed households, nationwide. In urban areas, it did not decline at all, (c) Among the determinants of poverty of FHHs, illiteracy, dependency and rural residence exacerbate poverty, while remittances domestic and/ or foreign reduce poverty, (d) The dynamics of incidence of poverty among FHHs during the period indicated that Illiteracy as the factor exacerbating poverty became less important in 2004-05. Moreover, residence in rural areas was also a weaker factor in determining the incidence of poverty. By far the most notable contribution in reducing the incidence of poverty was self-employment in agriculture in 2004-05.
CONTAMINATION AND ACCUMULATION OF HEAVY METALS IN BRINJAL (SOLANUM MELONGENA L.) GROWN IN A LONG-TERM WASTEWATER-IRRIGATED AGRICULTURAL LAND OF SARGODHA, PAKISTAN
No full textIn this study, we investigated metal and
metalloid (Pb, Mn, Ni, Co, Cu, Cd, Zn, Se, Mo, Fe,
As and Cr) concentrations in brinjal (Solanum
melongena L.) as well as at two different cultivated
sites in the vicinity of Sargodha. At both study sites (I
and II), mean concentrations of As and Cd in soil
and Mn, Ni, Cu (23.9, 28.9), Zn (61.2, 74.7), Mo
(16.1, 18.3), and Cd (0.82, 1.11) in S. melongena
were above the permissible limits as given by
USEPA and WHO, respectively. The results revealed
significant correlations between soil and vegetables
for metals viz. Mn, Co, Ni, Zn, Cd and Pb. The trend
of bioconcentration factor (BCF) at both sites was:
0.05-295.6 with higher BCF was observed for Cr
(229.4, 295.6). High pollution load index at site-II
indicated that this vegetable may cause toxic effects
in humans due to high metal accumulation in the
consumable parts of the vegetable. It is concluded
that more effective controls should be taken to reduce
pollution in this study area
Evaluating pasture and soil allowance of manganese for Kajli rams grazing in semi-arid environment
No full textRemittances and Poverty Linkages in Pakistan: Evidence and Some Suggestions for Further Analysis
No full textGlobal remittances experienced a dramatic increase over the years, particularly since 1990 wherein the developing world emerged to be the major beneficiary accounting for 60 percent of the total amount. Because of the sheer volume, and magnitude of the remittances, and pre-eminence of these flows compared to the FDIs, development assistance and in some cases the trade related transactions, the development practitioners tended to focus and investigate the importance of remittances which are generally regarded as a dependable source for growth, improved welfare and poverty alleviation in the developing world. Given the fact that remittances flows entail wide ranging ramifications both for sending as well as receiving countries, difficult to be generalised, hence empirical evidence has been mounted though lack of consensus is visible.
Scarcity, self-interest and maximization from Islamic angle
No full textThis paper clarifies some misinterpretations of three foundational concepts in mainstream economics from Islamic viewpoint. These are scarcity of resources, pursuit of self-interest and maximizing behavior of economic agents. It argues that stocks of resources that God has provided are inexhaustible. But important is the availability of resources out of stocks to mankind. Availability is a function of human effort and the state of knowledge about resources over time and space. In that sense resources are scarce in relation to multiplicity of human wants for Islamic economics as well. Self-interest must be distinguished from selfishness. The motive operates on both ends of human existence: mundane and spiritual. Its pursuit does not preclude altruism from human life. Counter interests keep balance in society and promote civility. Islam recognizes the motive as valid. Maximization relates to quantifiable ex ante variables. Uncertainty of future outcomes of actions makes maximization a heuristic but useful analytical tool. The concept is value neutral. What is maximized, how and to what end alone give rise to moral issues. Modified in the light of Shari’ah requirements the three concepts can provide a firmer definition for Islamic economics centered on the notion of falah.Scarcity; self-interest; opportunity cost; maximization; Islamic Economics; israf;; heuristics
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