The Religion of Economics

Maeshiro (2016) in “The Capitalist Religion and the Production of Idols“, writes that Capital is the God, and Capitalism is the religion of modern society. Gauthier’s review of Nelson’s Economics As Religion states that “economics became the modern theology that replaced traditional theology as the set of doctrines that give meaning to our social reality and hope to… Read More The Religion of Economics

Scientism: Flawed Foundation of Economic Methodology

This is part D of the first lecture on Gratitude, Contentment, and Trust, part of a free online course on A New Approach to Islamic Economics. Register for course via: http://bit.ly/AZIEML In previous parts of this lecture, we discussed the attributes of gratitude, contentment, and trust, as the behavioral bases for an Islamic approach to… Read More Scientism: Flawed Foundation of Economic Methodology

Origins and Consequences of US Monetary Hegemony

The two World Wars in the 20th century depleted the gold stocks of European governments and made a return to the (UK Sterling based) gold standard impossible. This led to the Bretton Woods conference of 1944, where leaders of the world came together to find an alternative, non-gold-based, global trading system. John Maynard Keynes brought… Read More Origins and Consequences of US Monetary Hegemony