Islamic Social Safety Nets

Please read the summary of the article taken from an Arabic Blog Article here.

Excerpt:

"Effects of the Principal of Wad’ al-Jawa’ih (Contract Waiver Due to Calamities) on Contracts and   Obligations:

• Al-Jawa’ih is the plural of ja’ihah: a natural disaster that destroys crops and fruits on trees, such as winds, rain, lightning, and the like, each of which may devastate the sold crops or fruit prior to its harvest.
• Classical scholars restrict the application of the doctrine of Wad’ al-Jawa’ih to corps fruits and fruits.
• Contemporary scholars and collective Ijtihad institutions recognize the applications of Wad’ al-Jawa’ih beyond the classical applications, based on analogy and taking into considerations the objectives of the Shari’ah and bearing in mind the people’s interest.
• The recognition of the relevance of  Wad’ al-Jawa’ih and applying it in the current situation at hand will definitely have a positive impact on finding solutions to the many contracts and obligations affected by the crisis, such as rentals instalments, hotel and travel bookings and the like.
• The application of Wad’ al-Jawa’ih means the termination of all sale, lease contracts, and other contracts where the goods and services transacted have not been delivered.
• The application of Wad’ al-Jawa’ih to address the effects of the crisis requires a collective Ijtihad (reasoning) founded on definitive rules and objectives of Shari’ah, taking into people’s contexts and interest, and the measures taken by local authorities in each country to mitigate the impacts of the crisis."

Image credit - The Economist

Writing the Perfect Hook

"A hook is typically the first one or two sentences of an essay or article that is designed to grab the reader’s attention." The article by Kelly Konya.

5 common hooks in writing essay:

1. Statistics hook

2. Quotation hook

3. Anecdotal hook

4. Question hook

5. Statement hook

Image credit - Actuarial Solutions Inc.

How Big are the Output Losses?

A short 3-minute read on the global economic recovery compared to pre-pandemic projection from the United Nation's Economic Analysis. 

Image credit - un.org

Women in Economics

The article is from the IMF blog. Read here. Perhaps I should compile women in Islamic economics. Sayyidatina Khadijah should be the very first one.

Image credit - IMF Blog.

Reading Pigou

 Paid a visit to Prof. Mankiw's blog. He recommended this book to economists.

Image credit - Greg Mankiw Blog.

That Which is Measured

I am taking the quote verbatim from Byte Size Blog:

"English economist William Petty unknowingly developed the concept of Gross Domestic Product (GDP) in the 1600s to investigate high taxation on landowners. The modern concept of GDP was developed by American economist Simon Kuznets in 1934 as a tool to measure the economy."

Image credit - New Yorker. 'Can We Have Prosperity Without Growth?'

Crypto Sukuk

A 3-minute reading from IRTI's Blog here.

Image credit - Myth of Money by Tatiana Koffman - Substack

IMF's Summer Reads

6 Books recommended by the IMF's Editor at Finance and Development. Read the reviews here.

ANGRYNOMICS is certainly eye-catching, ^_^

                   

                          

Image credit - The IMF Blog

The Crypto Heist

'Mr White Hat' (a reference to ethical hackers who search for vulnerabilities and help organisations fix them) now refusing to return the remaining money. Robin Hood and wealth distribution revisited?  Read the article here.

Image credit - The Strait Times, Internet

The Aging Society (in Malay)

Malaysia is likely to reached an aging society earlier than the projected estimation. The Covid-19 pandemic did have an impact on Replacement Fertility Rate. The Total Fertility Rate (TFR), with the global benchmark of 2.1 children per women, is going to be affected. In turn, TFR will have an impact on the labor market.  You can read the article here.

Source: Internet.

Millennials, Work Force and What They Want

I am revisiting the topic of gig economy and come across this article. According to the article, there are 5 themes that motivate the millennials:

1. Community Impact

2. Frequent Feedback

3. Flexible Office Options

4. Personal Development

5. Experiences, not Material Goods.

Millennials are rewriting the rule of labour force. The cause is the cure.

Image credit - Every Vowel.

Fly Emirates and the Advertisement

One of the most creative advertisement by the Dubai-based airlines Emirates on top of Burj Khalifa. I commend the effort. It was outstanding.

I just wish the money is spent elsewhere during this trying time...

Image credit - Youtube

Image credit - Burj Khalifa

Book Talk Event

On August 9, 2021 I organized the Zoom Webinar Book Talk Event with global prominent scholars. Thought-Provoking Book and outstanding Panelists. 

While searching for materials, I come across great tips in hosting a Book Talk. You can read it here.

Rumi Quote

Image credit - Pinterest

Fragility Trap aka Growth Trap

Another good article from the IMF Blog on escaping fragility and nexus of growth. Maybe Social Inclusion is key to exit the current pandemic.

Image credit - IMF Blog

Image credit - Pinterest

Mid-Year Read Economics Books of 2021 - According to Financial Times

An Intriguing List. I would read the following Book first:

Excerpt from the Author/Article:

" ...the Chinese state “uses the market as a tool in the pursuit of its larger development goals”. Above all, by eschewing “shock therapy”, it sought to protect “the economy’s commanding heights” from destabilising change."

Image credit - Goodreads

How To Introduce an Author

I am organising a Book Talk program this Monday. Come across this article on 'How to Introduce an Author. A good guidance for the Moderator. 

Image credit - Andertoons

5 Nobel-Prize Winning Economic Theories

According to this article, the five theories are:

1. Managing Common Pool Resources

2. Behavioral Finance

3. Asymmetric information

4. Game Theory

5. Public Choice Theory

Honorable Mention: Black-Scholes Theorem

Image credit - Know Your Meme

Taming Market Power

According to the article published in the IMF Blog in July 21, 2021 - corporate market power are making monetary policy a less effective tool in the advanced eonomies, all else equal. More here.

Image credit - IMF Blog