IR4: Revolutionary Potential of Islam Today

Director, Social Sciences, Al-Nafi Online Educational Platform, Member, Monetary Policy Committee, SBP

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New Course in Islamic Economics IIIE, IIUI More Courses” by “Online courses in Micro, Macro, Islamic Economics, Econometrics, & Statistics

How to Launch an Islamic Revival?


How to Launch an Islamic Revival?
Europeans conquered and colonized the globe, having control of about 90% of the world by 1900’s. Today the stories they tell about their own courage, virtues, and intelligence, are built into our educational curricula. These stories penetrate our minds, and teach us to imitate our conquerors. We learn that the goal of life is the pursuit of power, pleasure, profits, and no ethical considerations or social responsibilities should stand in our way: “All is fair in love and war”.

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Regression: Econometrics vs Reality

Regression: Econometrics vs Reality

This is the second in a sequence of lectures about regression models and methodology. These regression models are central in econometrics. Current methodology underlying these models makes them completely useless for learning about the real world. To learn how and why, we first discuss the differences between nominalist and realist methodology for science.
Many important structures of the real world are hidden from view. However, as briefly sketched in previous lecture on Ibnul Haytham: First Scientist, current views say that science is only based on observables.

Ibnul Haytham: First Scientist


Ibnul Haytham: First Scientist

The central goal of this Lecture 10A on “Real Statistics: An Islamic Approach”, is to establish that standard methodologies currently in use in statistics/econometrics, particularly regression, are built on the wrong foundations, and incapable of generating knowledge. To understand WHY this is so, it is necessary to study the flawed philosophy of science used to build these foundations.
While the car is functioning well, one does not usually open up the engine. But when the car breaks down, it becomes necessary to open it up to see what is wrong. This is the situation today, as the failure of econometric models manifested itself in the global financial crisis, as well as many other occasions.

IR5 Changing our Development Paradigms

IR4: Revolutionary Potential of Islam Today

IR4: Revolutionary Potential of Islam Today

{bit.ly/IR4rpit} This is lecture 4 (of 8) of “How to Launch an Islamic Revival?”; for access to all lectures, register for free online course at: http://bit.ly/IsRv00; For previous lecture, see IR3 Origins of Western Social Sciences. The one hour video lecture is followed by a 750 word brief summary.
Why are Muslims unaware of these central features? Because a western education, now universally in use throughout the Islamic countries, teaches us the OPPOSITE lessons. If we look at the curriculum of what is taught in Western (and all) universities, we find the lessons that:

Islamic Alternatives to Secular Moral Foundations of Economics

Islamic Alternatives to Secular Moral Foundations of Economics

Nobel Laureate Amartya Sen in his essay on Poverty & Famines(summary) analyzed causes of four major famines, in which millions of people died of starvation. One obvious POSSIBLE reason for famines is Scarcity: No Food. But empirical investigation of Sen leads to another possibility: Entitlement: No Compassion for starving people. In all four cases examined, Sen finds that local availability of food did NOT decline significantly, ruling out the SCARCITY explanation. Instead, he finds that food was being shipped out of Bengal at the height of the famine. WHY was food shipped out of famine area? Because Economic Theory of Supply & Demand says that Products should be sold to highest bidder.

What the World Lost Due to Decline of Islamic Civilization

What the World Lost Due to Decline of Islamic Civilization

[bit.do/azrdm] This is a brief English Summary (2850 words) of the original Arabic book: “Maza khasiral alam bi inhitatil muslimeen” This books which highlights the contributions of Islam to world, and the loss the world has suffered due to the decline of Islam, has been translated into many languages. It is essential reading for every Muslim. The English Book is: Islam and World: The Rise And Decline Of Muslims And Its Effect On Mankind . Author Syed Abul-Hassan Ali Nadwi (b:Muharram 6, 1333=24 Nov 1914 to d: Ramazan 23, 1320=24 Nov 1999). Urdu Book is available from: Insani Dunya par Musalmanon kay Urooj Aur Zawal ka Asar. UPDATE: This is now the first of a series of 8 lectures on How to Launch an Islamic Revival?