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Record Nr. |
UNINA9910491029503321 |
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Autore |
Eyerci Cem |
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Titolo |
The causes and consequences of interest theory : analysing interest through conventional and Islamic economics / / Cem Eyerci |
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Pubbl/distr/stampa |
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Cham, Switzerland : , : Palgrave Macmillan, , [2021] |
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©2021 |
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ISBN |
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Descrizione fisica |
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1 online resource (177 pages) |
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Disciplina |
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Soggetti |
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Economics - Religious aspects - Islam |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Nota di contenuto |
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Intro -- Preface -- Contents -- List of Figures -- List of Tables -- 1 Some Introductory Remarks -- 1.1 The Legitimacy Problem -- 1.2 The Causes of Interest -- 1.3 Is Control of Interest a Good Idea? -- 1.4 Overview of the Content -- References -- 2 The Concept of Interest: Meaning and History -- 2.1 What Is Interest? -- 2.2 The History of Interest -- 2.2.1 Mesopotamia -- 2.2.2 Ancient India -- 2.2.3 Ancient Greece -- 2.2.4 Ancient Rome -- 2.2.5 Byzantium -- 2.2.6 Interest in the Abrahamic Religions and Medieval Europe -- References -- 3 Theoretical Development and the Time Preference Theory -- 3.1 The Theories of Interest -- 3.1.1 Turgot's Theory of Interest -- 3.1.2 Productivity and Use Theories -- 3.1.3 Abstinence Theories -- 3.1.4 Labor Theories -- 3.1.5 Exploitation Theories -- 3.1.6 Impatience Theory -- 3.1.7 Loanable Funds Theory -- 3.1.8 Liquidity Preference Theory -- 3.1.9 Pure Time Preference Theory -- 3.2 Böhm-Bawerk's Time Preference Theory -- 3.2.1 The Theoretical, Social and Political Aspects of Interest -- 3.2.2 Superiority of Present Goods to Future Goods -- 3.2.2.1 Expectation of a Lower Marginal Utility in the Future -- 3.2.2.2 Underestimation of the Future -- 3.2.2.3 Technical Superiority of Present Goods in Production -- 3.2.3 Time Preference and Interest -- 3.3 Critiques of Böhm-Bawerk's Theory of Interest -- 3.4 The Validity of Böhm-Bawerk's Theory in Present Economic System -- References -- 4 The Motivation for Controlling Interest and Its Instruments -- 4.1 The Motivation for Prohibiting and Limiting Interest |
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-- 4.1.1 An Income Without Working -- 4.1.2 Benefiting from the Poor People -- 4.1.3 Enhancing the Inequality in Distribution of Wealth -- 4.1.4 Causing Economic Instability -- 4.1.5 Discounting the Future -- 4.1.6 High Cost on Investment and Development -- 4.1.7 Causing Slavery. |
4.2 The Instruments of Regulating Interest Rates -- 4.2.1 Religious Beliefs -- 4.2.2 Social Norms -- 4.2.3 Legal arrangements -- 4.2.4 Financial Instruments -- References -- 5 Interest Rate Control -- 5.1 The Price Control and Cheung's Model -- 5.1.1 The Mechanism and Consequences of Price Control -- 5.1.1.1 Price Ceiling -- 5.1.1.2 Price Floor -- 5.1.1.3 Signaling Role of Price -- 5.1.2 Cheung's Price Control Model -- 5.2 The Consequences of Interest Rate Control -- References -- 6 Basics of Islamic Economics and the Prohibition of Riba -- 6.1 The Basics of Islamic Economic System -- 6.2 Prohibition of Interest -- 6.2.1 The Pre-Islamic Riba -- 6.2.2 Riba in Quran -- 6.2.3 Riba in Sunnah -- 6.2.4 Riba in Fiqh (Islamic Jurisprudence) and the Traditional Perspective -- 6.3 Contrarians of the Traditional Perspective on Interest -- 6.4 The Alternative Instruments to Interest and Devious Ways -- 6.4.1 Profit-Loss Sharing Instruments -- 6.4.2 Sale with a Promise to Repurchase -- 6.4.3 Sale of the Right of Use -- 6.4.4 Instruments Based on Forward Sale -- 6.4.5 Cash Waqfs -- 6.4.6 Instruments in Christianity and Judaism -- Appendix 6.1: A Chronological Bibliography of Islamic Economics on Interest -- Appendix 6.2: The Translation of the Term Riba into English -- References -- 7 Time Preference and Price Control in Islamic Economics -- 7.1 Time Preference in Islamic Economics Literature -- 7.1.1 Time Value of Money -- 7.1.1.1 The Rejecters -- 7.1.1.2 The Conditional Acceptors -- 7.1.1.3 The Acceptors -- 7.1.2 Time Preference in Islamic Economics -- 7.1.2.1 The Rejecters of the Generality of Positive Time Preference -- 7.1.2.2 The Deniers of the Relation of Positive Time Preference with Interest -- 7.1.2.3 The Acceptors of Positive Time Preference as a Common Attitude -- 7.1.3 Islamic Economists, Böhm-Bawerk's Theory, and the Time Value of Money. |
7.2 Consideration of Interest Rate Control in Islamic Economics Literature -- References -- 8 Conclusion -- References -- Index. |
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