The Illogical Basis of Interest Rates

Masudul Alam Choudhury
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Masudul Alam Choudhury: Sultan Qaboos University, Sultanate of Oman

Chapter 10 in The Universal Paradigm and the Islamic World-System:Economy, Society, Ethics and Science, 2007, pp 131-141 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:A Philosophical Discourse Regarding the Rejection of InterestIrrational Exuberance of Interest FinancingFlaws in Mainstream Financial TheoryRisk aversion (mainstream finance)Risk aversion as risk diversification in the learning model of unity of knowledgeAdverse relations of interest ratesThe E-O-O-E ImplicationsCircular Causality between the Interest-Driven Variables: Time-Value of Money is UntenableConclusion

Keywords: Islamic Theory of Knowledge; Philosophy of Science; Islamic Economics; Islamic Finance; Islamic Science and Society (search for similar items in EconPapers)
JEL-codes: F3 G21 (search for similar items in EconPapers)
Date: 2007
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