It is shown that the evolution of modern developed societies results into reduction of the role of centralized governance as well as economic and political competition, whereas the role of collaboration mechanisms is growing. This process is supported by cultural changes: increasing trust,...

This is a pre-publication version of an article published by the journal ‘America Latina XXI’. It was originally produced as a tribute to Hugo Chavez and a critical reflection on his reception outside Venezuela, on the occasion of his death.

This paper seeks to report and analyse the economic thought of Ibn al-Qayyim, a great thinker of Islam. He discussed mainly the problems of price control, market mechanism, supervision of economic activities (al-hisbah), riches and poverty, interest and zakah, at different places in his numerous...

Since value and utility are the highest profile abstractions that underlie an epoch’s intellectual climate and ethical principles, their evolution reflects the transformation of socioeconomic conditions and institutions. The “Classical Phase” flourished during the first global system,...

Although little talked about in contemporary economics, the collection of principles popularly known as Say‟s Law were profoundly influential upon economists of the classical era. Kates (1997), who has quite a bit to say on the subject and receives much attention here, ascribes such importance...

The present paper studies economic ideas of an Azharite graduate of the nineteenth century Egypt - Rifā‘ah Rāfi‘ al-Tahtāwī who was influenced by the French Scholars and Philosophers, Voltaire, Rousseau, and Mantesquieu. He wrote on significance of industry, productive and unproductive...

The purpose of this paper is to investigate the influence on the theoretical dimension of Marxism, advanced by Cyril Lionel Robert James, on the struggles in the United States in the 1960s and 1970s and to explore the influence that this intellectual had in the development of an understanding of...

To define the nature and scope of economics has always been a controversial point in the academia. Though, economics is the social science that analyzes the production, distribution, and consumption of goods and services, its uses with political intentions to implement social agenda of the...

Although most of the marginalist economists’ methodology was influenced by 19th century classical physics, the work of second generation marginalist Francis Ysidro Edgeworth represents the highest point of classical physics influence to the development of mainstream economic methodology....

“Okun’s Law” states a 3:1 proportion between percent growth in U. S. real GNP and percent decrease in the rate of unemployment. This paper argues that this ratio is actually a Pi:1 proportion, heretofore unrecognized because it is displayed through a form of mathematic / harmonic inverse....