Definition of Financial Capitalism

The Economic Growth Imperative within Capitalism and the Islamic Viewpoint (Part 1)  December 25, 2014 – 03:55 am
Dictionary definition of

This paper earned the Award for Best Paper at Sharia Economics Conference 2013 , authored by Jamal Harwood and Sarfraz Wali. You can find Sarfraz Wali’s blog at 

Introduction

There has been much discussion during the on-going financial crisis, on how to initiate a sustained recovery and the consensus shown by the mainstream commentators has been through returning to sustained economic growth.

Such is the focus in the capitalist order towards growth, that any program or strategy that is not able to demonstrate how compounding levels of growth can be achieved is not given credibility and hence many, such as the Turkish economics professor Timur Kuran, have written extensively showing how the Shariah has rules which limit the ability of economies to grow and hence are an impractical alternative to the current order.

It is the aim of this paper to demonstrate that the current capitalist economic paradigm with its fractional reserve banking model has within it a destructive growth imperative which is on an unsustainable trajectory and to present Islam’s alternative approach to the subject.

Section 1      What is economic growth and how is it measured

Source: New Civilisation

Monthly Review Press The Great Financial Crisis: Causes and Consequences
Book (Monthly Review Press)

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When the Ship Comes in, Democracy is Coming to the USA

When the Ship Comes in,
Democracy Is Coming to the USA
By Michael Albert
[This is a slightly revised transcript of the Testimony Presentation
by Michael Albert delivered at the World Social Forum,
Porto Alegre, Brazil, 2002]
First, I want to thank the organizers of the WSF for having me here to give a personal testimony, and for conceiving and organizing this ...ty, diversity, and self-management are coming to the USA – and that the World Social Forum and all our movements and efforts need to be part of a massive entwined process that will make it so.
We need only commit ourselves, and seek the best of ourselves -- and it will happen.
Thank you…and if we have the time and the means, I would certainly love to relate to questions or comments.

A Pen Warmed In Hell


A Pen Warmed in Hell (A work in progress…)
(With apologies to both Mark Twain and Arlo Guthrie)
by Milton Johnson aka Nick Adams
(Feedback Appreciated, Please write: Feedback@SiliconSalon.com Thanks.)
‘Capitalism needs to run its course.’
Karl Marx
‘ As bad as those things are, I don’t see them screwing each other over a percentage’
Sigourney Weav...on had just decided to create a non-military draft, which he didn’t, probably because it would have been too close to a domestic version of the Peace Corps, which after all was his mortal enemy’s, Kennedy, baby, for comfort, I don’t think we’d be in this current mercenary mess.
©, Copyright 2001, Nick Adams
(Feedback Appreciated, Please write: Feedback@SiliconSalon.com Thanks.)

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