Seifuddin I. Tag el-Din: Conventional Growth Policy and the Forgotten Potential Resources: A Case for the Ethical Economic Resource, comment سيف الدين ابراهيم تاج الدين: السياسة التقليدية للنمو و المورد المنسي: الحجج المؤيدة للمورد الاقتصادي الأخلاقي، تعليق: سيد نواب حيدر نقوي، وأصغر قادر

Syed Nawab Haider Naqvi and Asghar Qadir
Additional contact information
Syed Nawab Haider Naqvi: PRESIDENT Institute for Development Research Islamabad, Pakistan
Asghar Qadir: Professor of Mathematics Dean of Faculty of Science Quaid-e-Azam University Islamabad, Pakistan

Journal of King Abdulaziz University: Islamic Economics, 2001, vol. 13, issue 1, 53-59

Abstract: Tag el-Din’s interesting paper (Tag el-Din, (1997) aims to prove that the conventional positivist (secular) growth theory fails to optimize growth in the broader sense of maximizing social welfare. The reason for this failure, according to him, is its narrow positivistic motivation, which sees economic agents as maximizing only their own utility, unconcerned about what this exercise means for the well being (in the strictly utilitarian sense) of other individuals and of the society as a whole. The author argues that if public policy, breaking out of the positivist box, seeks to mobilize people's ethical religious resources to grow economically more prosperous, then a high growth target will be achieved not only efficiently but also equitably. To prove his thesis, the author shows that individual satisfaction will be more fully achieved if we not only allow for, what he calls, the household utility component but also an external utility component -- the former reflecting only the economic agent's actual and potential commodity possessions, and the latter denoting the additional satisfaction that they get by helping others (the poorer people) in the society. A logical policy recommendation is, therefore, to mobilize the society's ethical potential with a view to maximizing social welfare. --

Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://iei.kau.edu.sa/Files/121/Files/153889_IEI-VOL-13-08E-Asghar.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:13:y:2001:i:1:no:3:p:53-59

DOI: 10.4197/islec.13-1.3

Access Statistics for this article

More articles in Journal of King Abdulaziz University: Islamic Economics from King Abdulaziz University, Islamic Economics Institute. Contact information at EDIRC.
Bibliographic data for series maintained by King Abdulaziz University, Islamic Economics Institute. ().