Chapter 14 The Islamic Panacea to Global Financial Predicament: A New Financial Architecture
Contributions to Economic Analysis
ISBN: 978-0-85724-721-6, eISBN: 978-0-85724-722-3
Publication date: 4 February 2011
Abstract
The basis of the present financial crisis, which is bound to continue inflicting its venom because of structural problems of society, economy, finance, and institutions, is the insatiable preferences of households and investors that fuel excessiveness in the real estate market. Then there is the contagion that this kind of preference has on the economy and the foreboding uncertain market expectations everywhere. Finally, the excessiveness is allowed to survive and proceed on with unrelenting animal spirit by weak government polices, outmoded understanding of the economic and financial world-system, being unable to simulate the otherwise complex system by a spent-out methodology.
Citation
Alam Choudhury, M. (2011), "Chapter 14 The Islamic Panacea to Global Financial Predicament: A New Financial Architecture", Baltagi, B.H., Sadka, E. and Alam Choudhury, M. (Ed.) Contributions to Economic Analysis (Contributions to Economic Analysis, Vol. 291), Emerald Group Publishing Limited, Leeds, pp. 279-307. https://doi.org/10.1108/S0573-8555(2011)0000291024
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited