Browsing All Posts filed under »Economics«

The Fallacies of Islamic Economics

February 7, 2012


There are many definitions of everything that Economics embodies, but the most commonly accepted one came from the prominent economist and LSE tutor Lionel Robbins who categorised it as ‘a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses’.  That is, in fact, the best and simplest […]

Economics 101: Recession Series

January 25, 2012


The Dow Jones Industrial Index crash in late 2007 With the start of the global credit crisis back in late 2007/early 2008 we the general public have been bombarded with new reports, newspaper/magazine articles and blog posts on how the economy is doing. We have pundits and professors constantly giving us status reports and if […]