The strength of the wolf is the pack the strength of the pack is the w

This to me seems like a familiar axiom that my dad would let me know, your just as solid as the most vulnerable connection. In the marine corps this importance is all around practiced by all the marines. They realize that one marine can mean the distinction among life and passing and will all work to get the marines in their order under the equivalent physical and mental wellness. That is the reason when in training camp the entirety of the marines are gotten through similar preliminaries, they are dealt with like this so they will fill in as a group and when one falls the others will help. On the opposite side on the off chance that one marine is incapable as a marine the whole unit Is insufficient. In the start of training camp the enlisted people are put on the renowned yellow impressions. They are rearranged through a structure getting deprived of any distinction that they have in the matter of 36 hours. They are then gotten through the most exceedingly awful conditions that the drill teachers can consider and it is totally supportive of one reason. This reason for existing is with the goal that the future marines can begin to learn just the corps. They discover that they are claimed and ensured by the articles of direct of the US and they are customized ordinarily with the subject of this exposition. They are instructed that they are just as solid as the most vulnerable connection and that they should help the more slow cadets. After training camp the marines will head out in their own direction. In some cases a few the marines that graduated will be positioned together in a similar spot. It occurs however they should never anticipate it as it is a 50-50 possibility. In the new station that they are given they are taking the abilities given to them from training camp. They can as a rule overlook these norms and commit errors that they should not to make. Anyway I should emphasize that marines are still just human, a mix-up that individuals make when considering them they stroll with another pride after the path they endure. Many attempt to mutilate them and following 200 years they just giggle at the endeavors. If you somehow managed to run over a marine what might you see? Regularly individuals will say that they are haughty and chicken and that they think they are divine beings. These things are mostly evident. Numerous marines really imagine that when they are more youthful. As they develop they learn lowliness and beauty and they become something taking after my dad. With the mindset that they may not be the best yet in the event that you hinder them they will move you. Marines consistently pay special mind to their own. They are, as it were, similar to a wolf pack. They are faithful to their own and they will back one another ready for anything as long as that doesn?t mean they are violating the law. A marine will consistently be a marine, regardless of whether they are dead or resigned. What's more, once in a while when the need emerges they will be a wolf pack.

Pros and Cons of Compulsory Voting

Advantages and disadvantages of Compulsory Voting More than 20 nations have some type of mandatory democratic which expects residents to enlist to cast a ballot and to go to their surveying spot or decision on political race day. With mystery voting forms, its not so much conceivable to demonstrate who has or has not casted a ballot, so this procedure could be all the more precisely called mandatory turnout since voters are required to appear at their surveying place on political race day. Realities About Compulsory Voting One of the most notable obligatory democratic frameworks is in Australia. Every single Australian resident beyond 18 years old (with the exception of those of unsound brain or those sentenced for genuine violations) must be enrolled to cast a ballot and appear at their surveying place on political race day. Australians who don't show up are liable to fines, despite the fact that the individuals who were sick or in any case unequipped for deciding on political decision day can have their fines postponed. Mandatory democratic in Australia was embraced in the province of Queensland in 1915 and in this manner received across the nation in 1924. With Australias necessary democratic framework comes extra adaptability for the voter. Races are hung on Saturdays, missing voters can cast a ballot in any state surveying spot, and voters in remote zones can cast a ballot before a political decision at pre-survey casting a ballot habitats or by means of mail. Voter turnout of those enlisted to cast a ballot in Australia was as low as 47 percent preceding the 1924 necessary democratic law. In the decades since 1924, voter turnout has floated around 94 to 96 percent. In 1924, Australian authorities felt that necessary democratic would dispense with voter lack of concern. Be that as it may, mandatory democratic currently has its spoilers. The Australian Electoral Commission gives a few contentions in favor and against mandatory democratic. Contentions in Favor Casting a ballot is a city obligation practically identical to different obligations residents perform (for example tax assessment, necessary instruction, or jury duty).Parliament reflects all the more precisely the desire of the electorate.Governments must think about the all out electorate in strategy definition and management.Candidates can focus their crusading energies on issues, as opposed to urging voters to go to the poll.The voter isnt really constrained to decide in favor of anybody since casting a ballot is by mystery voting form. Contentions Used Against Compulsory Voting Some recommend that it is undemocratic to constrain individuals to cast a ballot and is an encroachment of liberty.The uninformed and those with little enthusiasm for legislative issues are compelled to the polls.It may expand the quantity of jackass (votes in favor of an irregular up-and-comer by individuals who feel that they are required to cast a ballot by law).It may build the quantity of casual votes (voting form papers which are not set apart as indicated by the guidelines for voting).Resources must be apportioned to decide if the individuals who neglected to cast a ballot have substantial and adequate reasons. Source Necessary Voting. Australian Electoral Commission, May 18, 2011.

Expert Tips on How to Write an Essay Introduction

Expert Tips on How to Write an Essay Introduction The students always look for the best solution to how to write an essay introduction. Because writing an essay is still a long time process for the students. The students always struggle to write the best essay. Do you know what makes your essay more effective? The introduction of your essay is the most crucial part of your essay that makes it effective. Let me explain it with an example. Suppose that youve written an essay about something. Your topic is interesting for the audience, but youve got a poor essay introduction. Now, what do you think? Your targeted audience would like to read the whole essay or not. The answer is no because you have started the essay with the poor introduction and lost all your audiences attention at the early stages of your essay. Today we will explain to you, how to write an essay introduction to grab your readers attention towards your essay. Before we get started with the tips first, we should have a look at what is an introduction of an essay. What is an Introduction in an Essay Summary What is an Introduction in an EssayHow to Write an Essay IntroductionSample Essay Hooks IntroductionsHooking Your ReaderUse the element of surpriseTug at your readers heart-stringsOffer a relevant example or anecdoteAsk a thought-provoking questionCreating Your ContextRelate your hook to a broader topicProvide necessary background informationDefine key terms for the purposes of the essay. Move from the general to the specific. Presenting Your EssayMake your pointDescribe how youre going to prove the pointTransition smoothly into the essay bodyBringing It All TogetherRead essays of other writers in your disciplineKeep your introduction short and simpleWrite your introduction after you write your essayStructure your introduction effectivelyConclusion As Ive mentioned earlier, essay introduction is a crucial part of your essay. It is a roadmap for the entire essay. It is the initial paragraph that sets the tone and path for the entire paper that you are going to present to your audience. The best introduction to essay grab your readers attention and make them engaged to read the essay from the very start of the essay. How to Write an Essay Introduction The most potent introduction grabs the readers attention and keeps them reading the essay until the end. Sample Essay Hooks Introductions Hooking Your Reader Identify your audience. It is the most crucial step your very first sentence should put the reader into your essay. As a writer, you will always want your reader should read your essay to be fascinated, intrigued, or even outrage. It cant happen without knowing the likely readers of your essay. There are two ways to do this. The first one is, most of the time, the students make this mistake. When they write a paper for a class, they automatically assume the instructor as their audience. And the second one is reverse engineering of your audience based on the subject youve chosen for your essay. Suppose that your essay topic is about bodybuilding in the mens study class. Then you will find your targeting audience as you men with the age range that is most affected by the issue. Use the element of surprise It is the best method to grab your readers attention at the friction of second. In this method, we use the shocking statistics that can grab the audiences attention by immediately teaching something interesting to them something that they are not aware of it. Start with the informative sentences that are new for the audience; it will also create interest among the students that where will you go next. Tug at your readers heart-strings In the case of personal or political essays, use your hook to get your reader emotionally involved in the subject matter of your essay story. Let me explain it with an example. If you are writing an essay that is proposing a change in traffic laws, then you might open the story with how the life of the citizen will be affected by this change. Offer a relevant example or anecdote Most of the time, we come across cross an entertaining or interesting anecdote while reading and research for the essay. The anecdote may be related to your essay, but most of the time didnt fit in the body of the essay. But it works great as the hook of your essay. Lets understand it with an example. Suppose that you are writing an essay about a celebrity. Then you can use his/her odd personal habit as a hook for your essay. Humorous anecdotes work better as a hook than the other types of anecdotes. Ask a thought-provoking question It is the most potent method only If youre writing a persuasive essay. You can use a relevant question to draw your reader in. It also helps you to get them actively thinking about your essays subject. Lets understand it with an example: What would you like to do if you become the president of your country for a day? Most of the leader of tiny islands always want to answer these kinds of questions. Avoid clichés and generalizations. Generalizations and clichés are not helpful for your essay. Most of the writer uses generalizations and clinches to contrast with their point. It makes your essay unoriginal or appears you as the lazy writer. Creating Your Context Relate your hook to a broader topic The next step for you to make sure that how your introduction explains to your readers. How your hook connects to the rest of your essay. Start with the broader and more general scope to explain your hooks relevance. Because if you prove your audience about the relevancy of your hook, then they will read all your essay. The most prominent way to do this, use Use appropriate transitional words or phrases, such as however or similarly, It helps you to move your anecdote back out to a broader scope. Provide necessary background information Everyone wants to keep things still relatively general. Allow your readers to know anything that will be necessary for them to understand your main argument. Also, let them know the points youre making in your essay. For example, if your essay is related to the first world war. Then your introduction should describe where and when the first world war was committed. Define key terms for the purposes of the essay. You should have the art that is used to define for your reader. The introduction is not about the reiterate the basic dictionary definitions. On the other hand, if you are having the key term within your essay, then let the readers know how youre using that term. Here is an example you cant modify or change the definitions of the scientific topic because the average layperson cant understand the scientific terminology. Move from the general to the specific. You should always think that your introduction as an upside-down pyramid. Your hook should be placed at the top of your essay. Apart from that, your introduction also welcomes the readers to the broader topic that your essay is all about. If youre using 3 or 4 sentences to describe the context of your essay, then you should try to make each one of your sentences a bit more specific. Lets learn it with an example. If youre writing an essay about sup[pose that youre writing an essay on drunk driving fatalities, then you might start with an anecdote about a particular victim. Then you could provide the national statistics about drunk driving, then narrow down your topic further by giving the statistics of the specific gender or age group. Presenting Your Essay Make your point After setting up the context on which you are making an argument. It is time to tell your reader the point of your essay. Use your essay statements to directly communicate the unique point that you will attempt to make through your essay. Be assertive and confident while writing your essay, and it should be reflected in the essay. Dont you ever try to use the fluff in your essay, such as In this essay, I will attempt to show? Always try to make your outline specific, unique, and provable. Describe how youre going to prove the point Also, round out your introduction with the help of providing your readers with the essential roadmap of what you will say in your essay. In most of the cases, the round out should not be more than a sentence. Transition smoothly into the essay body In most of the cases, youll find that you can move straight from the introduction to the first paragraph of the body. Some introductions require a short transitional sentence at the end. It helps to keep the flow naturally into the rest of your essay. You can do this by figuring out that by reading the introduction and the first paragraph aloud. If you feel that youre pausing between the paragraphs, then work on the transitions to make a move smoother. Bringing It All Together Read essays of other writers in your discipline Good introduction totally depends on the subject matter. The suitable introduction may work well in one academic discipline may not work well in another. Keep these things in your mind, if youre writing a class assignment essay, then you should ask your instructor to provide you the well-written essay example. You can take advantage of that example by note down the point of conventions that are commonly used by the writers in your discipline. Apart from that also make a brief outline of your essay based on the information presented in the introduction. Keep your introduction short and simple Keep in mind that you should keep your essay introduction short and simple. Your introduction should be between 6 and 10 percent of the overall essay length. Suppose that youre writing a 20-page paper, then your introduction should be approximately two pages long. For shorter essay likewise, 1000 words essay, the introduction should be between 100 to 200 words. You can also take the help of your instructor for the essay length. Write your introduction after you write your essay Always try to write the body of the essay first, then write the introduction. You should write the introduction at the finishing stage of essay writing. It would help you to present a summary of your essay efficiently. You can do that by jot down the things to include it in your introduction. You can also mention the most important term of your essay on your introduction. Revise your introduction to fit your essay. The writer likes to write an introduction at the initial stage of the essay. If youve done the same, then go back and make sure your introduction provides and check that your introduction is complimenting your completed paper. In this stage, you have to delete any unnecessary language and jargon. Try to keep the sentences short and easy to understand by the users.   Structure your introduction effectively Most of the essay introduction has the same essential elements regardless of the subject or academic discipline. It should be short and also convey a lot of information to the users. Keep these things into your mind while structuring your introduction effectively. The hook is the crucial elements that will help you to engage your readers. Therefore you should use the hook within your first sentence. After creating the hook, the next few sentences should be works as a bridge between your hook and the rest of your essay. Conclusion Writing an essay introduction is an art. If you are going to follow these tips then you will definitely master this art. But if youre still finding it difficult to write an essay introduction. Then we are here to provide you the best essay writing help at nominal charges. We provide the best assignment help in Melbourne.

Definition and Examples of Narratio in Rhetoric

In classical rhetoric, narratio is the part of an argument in which a speaker or writer provides a narrative account of what has happened and explains the nature of the case. Also called narration. Narratio was one of the classical rhetorical exercises known as the progymnasmata. Quintilian believed that narratio should be the first exercise introduced by the teacher of rhetoric. Instead of conveying knowledge, says Franklin Ankersmit, the historical narratio is essentially a proposal to look at the past from a certain point of view. (See Narratio in Historiography in Examples and Observations, below.) Examples and Observations The narratio follows the exordium and gives background information. It relates events that have occurred which provide the occasion for the speech. A narrative based on the persons should present a lively style and diverse traits of character and have three qualities: brevity, clarity, and plausibility.(John Carlson Stube, A Graeco-Roman Rhetorical Reading of the Farewell Discourse. TT Clark, 2006)[I]n a piece of deliberative rhetoric, narratio is only supposed to include the facts that are germane to the presentation the speaker wants to make to his audience, not saying more than the case demands [Quintilian, Institutio Oratoria, 4.2.43].(Ben Witherington, III, Grace In Galatia. TT Clark, 2004)Cicero on the NarratioAs to the rule which exacts brevity from the narration, if brevity be understood to mean no superfluous word, then the orations of L. Crassus are brief; but if by brevity be meant such stringency of language as allows not one word more than is absolutely necessary to conv ey the bare meaning--this, though occasionally useful, would often be extremely hurtful, especially to the narration, not only by causing obscurity, but by doing away with that gentle persuasiveness and insinuation which constitute its chief excellence. . .The same perspicuity ought to distinguish the narration as the rest of the speech, and is all the more imperatively demanded there, because less easily attained than in the exordium, confirmation, refutation, or peroration; and also because this part of the discourse is much more imperiled by the slightest obscurity than any other, elsewhere this defect does not extend beyond itself, but a misty and confused narration casts its dark shadow over the whole discourse; and if anything be not very clearly expressed in any other portion of the address, it can be restated in plainer terms elsewhere; but the narration is confined to one place, and cannot be repeated. The great end of perspicuity will be attained if the narration be given in ordinary language, and the occurrences related in regular and uninterrupted succession.(Cicero, De Oratore, 55 BC)Colin Powells Report to the U.N. on Weapons of Mass Destruction in Iraq (2003)Saddam Hussein is determined to get his hands on a nuclear bomb. He is so determined that he has made repeated covert attempts to acquire high-specification aluminum tubes from 11 different countries, even after inspections resumed. These tubes are controlled by the Nuclear Suppliers Group precisely because they can be used as centrifuges for enriching uranium. . .Most U.S. experts think they are intended to serve as rotors in centrifuges used to enrich uranium. Other experts and the Iraqis themselves argue that they are really to produce the rocket bodies for a conventional weapon, a multiple rocket launcher.I am no expert on centrifuge tubes, but just as an old Army trooper, I can tell you a couple of things: First, it strikes me as quite odd that these tubes are manufactured to a toleranc e that far exceeds U.S. requirements for comparable rockets. Maybe Iraqis just manufacture their conventional weapons to a higher standard than we do, but I dont think so.Second, we actually have examined tubes from several different batches that were seized clandestinely before they reached Baghdad. What we notice in these different batches is a progression to higher and higher levels of specification, including, in the latest batch, an anodized coating on extremely smooth inner and outer surfaces. Why would they continue refining the specifications, go to all that trouble for something that, if it was a rocket, would soon be blown into shrapnel when it went off?(Secretary of State Colin Powell, address to the U.N. Security Council, Feb. 5, 2003)Narratio in HistoriographyEach attempt to define (part of) historical reality may satisfy some historians but never all of them. In other words, the link between language--i.e. the narratio--and reality can never be fixed in a way acceptabl e to all historians, thus becoming the knowledge of a generalized knowing subject. The fact that debate and discussion have a much more prominent place in historiography [which] in other disciplines and that historiographical debate rarely, if ever, results in conceptions shared once and for all by all historians should not be seen as a sad deficiency of historiography that has to be remedied, but as a necessary consequence of the linguistic instruments used by historians.(Franklin Ankersmit, The Use of Language in the Writing of History. Working With Language: A Multidisciplinary Consideration of Language Use in Work Contexts. Walter de Gruyter, 1989)

Peter Abelard - Philosopher and Teacher

Peter Abelard was also known as: Pierre Abà ©lard; also spelled Abeillard, Abailard, Abaelardus, and Abelardus, among other variations Peter Abelard was known for: his significant contributions to Scholasticism, his great ability as a teacher and writer, and his infamous love affair with his student, Heloise. Occupations: MonasticPhilosopher TheologianTeacherWriter Places of Residence and Influence: France Important Dates: Died: April 21, 1142 Quotation from Peter Abelard: This first key of wisdom is defined, of course, as assiduous or frequent questioning.---- Sic et Non, translated by W. J. Lewis More Quotations by Peter Abelard About Peter Abelard: Abelard was the son of a knight, and he gave up his inheritance to study philosophy, particularly logic; he would become renowned for his brilliant use of dialectics. He attended many different schools seeking knowledge from a variety of teachers, and often came into conflict with them because he was so headstrong and certain of his own brilliance. (The fact that he really was brilliant didnt help matters.) By 1114 Peter Abelard was teaching in Paris, where he met and tutored Heloise and became a notable figure of the twelfth-century Renaissance. As a philosopher, Peter Abelard is well-remembered for his solution to the problem of universals (definitive qualities of any given class of things): he maintained that language itself cannot determine the reality of things, but that physics must do so. He also wrote poetry, which was very well received, and established several schools. In addition to these scholarly efforts, Abelard wrote a letter to a friend, which has come down to us as the Historia Calamitatum (Story of My Misfortunes). Together with letters written to him by Heloise, it provides a great deal of information about Abelards personal life. Peter Abelards affair with Heloise (whom he had married) came to an abrupt end when her uncle, wrongly believing Abelard was forcing her to become a nun, sent thugs to his house to castrate him. The scholar hid his shame by becoming a monk, and his philosophical focus shifted from logic to theology. Abelards subsequent career was extremely rocky; he was even condemned as a heretic at one point, and the work the Church deemed heretical was burned. Because Abelard was so cocksure, applied logic so ruthlessly to matters of faith, criticized anything he found worthy of contempt and frequently insulted fellow clerics, he was not well-loved by his contemporaries. However, even his harshest critics had to concede that Peter Abelard was one of the greatest thinkers and teachers of his time. For more about Peter Abelard, his relationship with Heloise, and the events that followed, visit  A Medieval Love Story. More Peter Abelard Resources: A Medieval Love StoryOnline Text of Abelards Historia CalamitatumQuotations by Peter AbelardAbelard and Heloise Picture GalleryPeter Abelard on the WebAbelard Heloise on FilmThe link below will take you to an online store, where you can find more information about the film. This is provided as a convenience to you; neither Melissa Snell nor About is responsible for any purchases you make through this link. Stealing HeavenBased on the fictional novel by Marion Meade, this 1989 film was directed by Clive Donner and stars Derek de Lint and Kim Thomson. The text of this document is copyright  ©2000-2015 Melissa Snell. You may download or print this document for personal or school use, as long as the URL below is included. Permission is not granted  to reproduce this document on another website. For publication permission,  please  contact  Melissa Snell. The URL for this document is:http://historymedren.about.com/od/awho/p/who_abelard.htm

Role of Islam in Economic Develpoment Free Essays

International Ataturk-Alatoo University Role of Islam in Economic Development Done: Aizhamal ZHUMALIEVA Checked: Ibragim KONCAK 2012 Content Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1 Statistics and Trends†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Economics of Wealth Generation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Islamic Merchants†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Islamic Law and Economic Growth†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Islamic Banking†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Introduction Researchers like Huntington (1996), Landes (1999), and Inglehart and Baker (2000) argue that explanations for economic growth should go further to include a nation’s culture. We will write a custom essay sample on Role of Islam in Economic Develpoment or any similar topic only for you Order Now Their argument absolutely makes sense because culture affects personal traits such as honesty, thrift, willingness to work hard, and openness to stranges, which consequently influences economic outcomes. Religion is thought to be one of the most important dimensions of culture. Thus Weber (1930) argued that religious practices and beliefs had important consequences for economic development. Islam is no exception, just as David Landes, the Harvard economic historian, wrote in his book â€Å"The Wealth and Poverty of Nations†, â€Å"No one can understand the economic performance of the Muslim nations without attending to the experience of Islam as faith and culture,† In 10th century, which is known as Golden Age for Islam, Muslim societies led the world in science, philosophy, culture and prosperity. But soon it came to the end, and Islamic countries have long lagged behind other countries. It is easy to define with the help of analysis of current international financial data. Those data highlight the great inequality in income between Christian dominant and Muslim dominant countries. The richest countries in the world are those of Europe, North America, and East Asia. Only a small number of Muslim countries approach to their income levels, and this is only due to their oil wealth. In many of Muslim countries income growth is low so that gap is widening. Scholars are sure that it is not just coincidence but Islam has significant influence on economic ascents and descents. If it is so, what role does Islam play in economic performance? How does it affect economic advancement? What spheres and industries does Islam influence? Is there any way to solve the problem? The purpose of this paper is to show the relationship between Islam and economy and critique some Islamic mechanisms that drag the economic activity. The first part of the paper suggests some statistical data that reflects general image of economic state of Islamic countries. Next section defines the process of wealth generation and impact of Islam on capital, innovation, and literacy. After, Islamic trading patterns are analyzed. Then Timur Kuran’s, well-known economist, arguments about economic effect of Islam are stated. And the last part reviews Islamic financial institutions. Statistics and Trends Level of economic development, whether measured by per capita income or variables like trade, literacy, science, scholarship and technology, has long been lower in the Islamic world than in Christian world, especially those of in West. Here is one empirical data that prove this situation with income per capita being a dependent variable. Table 1 is a regression model, which include 132 countries covered by the World Development Report for 1995, shows that relationship exists between Islam and per capita income. In the first regression, independent variable is the share of Muslim within total population, this regression indicates statistically significant negative relationship between two variables, but its fit is poor. The second regression, which includes additional independent variable, has considerably better fit. Membership in OPEC turns out to be a significant contributor to income, and location in Subsaharan Africa a highly significant depressor. The Muslim share of population remains very significant negative determinant of income. The model also reflects the fact that the African, South Asian, and East Asian countries with large Muslim minorities tend to be poorer than countries with Muslim majorities located in the Middle East. Table 1 The Relationship between Islam and Per Capita Income | (1)| (2)| Constant| 3. 33| 3. 55| Share Muslim| -0. 41***(-2. 57)| -2. 07****(-2. 87)| Square Share Muslim| | 1. 76**(2. 29)| OPEC Member| | 0. 42*(2. 20)| Susaharan Africa| | -0. 67*****(-5. 77)| R-squared| 0. 4| 0. 34| Notes: 132 countries were included in the regression. Asterisks *, **, ***, ****, ***** denote significance at the 0. 03, 0. 2, 0. 01, 0. 005, and 0. 0000 levels, respectively. Following charts show the Muslim share of global income and the share of global population. Income share is 5. 98 %, which is strikingly less than population share, which is 19. 22 %. According to this data we can assume that Muslims average income obviously lower than of non-Muslims. In most of the countries, where Muslims live in l arge numbers, are generally poorer. And few will deny this fact. To investigate how this outcome came up I will review the process of wealth creation and the role of Islam in this process. Figure 1 Economics of Wealth Generation Level of income in an economy is related to the volume of goods and services produced. The amount of this production in the long term is determined by three factors: the availability and exploitation of natural resource; the quantity of productive capacity in terms of buildings, infrastructure, machinery plant and equipment; and the availability, ability, training and resourcefulness of the workforce. These â€Å"factors of production† are essential to income producing capacities. Natural resource endowment of a country is a matter of circumstance, religion has nothing to do with availability of natural resource. Islamic countries, especially those in the Middle East are very lucky to have oil wealth, the biggest contributor to Muslim economy. Physical resources however are man-made. The availability of these resources depends on accumulation of physical investment in building construction, purchase of equipment and maintenance of the stock of these assets. It is here that the culture and religion, Islam in particular, may play a role. In order to create physical productive asset, what economists call â€Å"capital†, long process of planning, risk taking, vision and enterprise are required. Arthur Lewis (1955, 105) argued in his textbook on economic growth: â€Å"Some religions are more compatible with economic growth than others. If religion stress upon material value, upon work, upon thrift and productive investment, upon honesty in commercial relations, upon experimentation and risk bearing, and upon equality of opportunity, it will be helpful to growth, whereas in so far as it is hostile to this things, it tends to inhibit growth. † He did not provide the classifications of religion according to their support for development. But other economists like Luigi Guiso, Paola Sapienza, and luigi Zingales did. They conducted a multinational set of surveys that covers sixty-six countries. In a study that appeared in the Journal of Monetary Economics, they noted that, â€Å"on average, Christian religions are more positively associated with attitudes that are conductive to economic growth, while Islam is negatively associated. † In comparison with people of other religion, Muslims were generally less disposed to agree with pro-market statements such as â€Å"Competition is good†, â€Å"private ownership of business an industry should be increased†. It means that Muslims are not willing to adopt industrialization and modernization, without which creation of capital is barely possible. Report clearly indicates that Islam sufficiently discouraging economic development in terms of physical resources. The same opinion had Daniel (19958, 405) who wrote in his best-known work, The Passing of Traditional Society, that â€Å"the top policy problem, for three generations of Middle Eastern leaders, has been whether one must choose between ‘Mecca or Mechanization’ or whether one can make them compatible. He observed that Islam was inimical to the structural changes essential to the Islamic world’s progress. Affirmatively Islam played very effective role in capital creation and obviously negative. So, if country’s aim was to develop, choice would ultimately get resolved in favor of ‘mechanization’. The third factor of production is human resource. This is not jus a matter of population. People need t o be educated and trained in order to make use of the physical capital. Religion may play a role here too – possibly negative one. To the question whether Islam contributed to shaping the educational system that limited curiosity and innovation Lewis (1982, 229) answers in the affirmative. But how? Islam highly encourages education. It might have stemmed from the closure of the gate ‘ijtihad’, which meant end of freedom of innovation, independent judgment, and that all answers were already available and needed merely to follow and obey. Treating Islamic learning as perfection helped support an educational system that emphasized rot learning and memorization at the expense of problem solving. Granting that the prevailing educational system must have limited inquisitiveness and innovation, it could have extinguished new ideas and the desire for change. This resulted in overwhelmingly illiterate Muslim population. The scene has not changed a lot in present days either, series of reports for United Nations pointed out that adult literacy rate barely topped fifty percent, which is disastrous for economic development. If there is no human resource who can tackle technology, machinery what are they needed for anyway? The nature of progress is improvements in physical capital over time that deliver increased output for given amount of material and labor input – higher productivity. By labor meant highly educated and trained people, whom obviously lacks Muslim world. This ‘knowledge deficit’ has severely impeded economic growth. One thing that I cannot skip is the attitude toward women in Islam. In Islam women are inferior to men. Recent figures from the International Labor Organizations, published by world Bank, indicate that in the Middle East and North Africa, women comprise 28 % of the total labor force, whereas the world average is 40 %. As a group, these countries have the lowest female labor force participation in the world. One of the lowest figures is Saudi Arabia with 16%. This is reflection of cultural values regarding women in Muslim countries, values inseparable from religious values, which form following consequences. First, it decreases the overall income of country. If women were engaged in paid employment, increasing the labor force by 30%, additional contribution to national income would be around of 10%. Second, this limitation reduces potential production. Third, it is associated with higher birth in these countries, which correspondingly per capita income growth rate. So, this Islamic wise about women contribute to relative poverty. Now, as we have obtained sufficient image on how Islam has influenced the process of wealth generation I would like to take a quick look at Muslims trading patterns. Islamic Merchants The fact that Muslims ended up to be poor at trading puzzles me because the founder of Islam, The Prophet Muhammad is believed to have been a merchant, and in one occasion he reportedly said, â€Å"The trustworthy merchant will sit I in the shade of Allah’s throne. It is especially puzzling that Muslim merchants, given that early Islamic thought harbor certain pro-competitive traditions, along with Muslim consumers who stood to benefit from greater competition, failed to counter the anti-competitive influence of the guilds. Sabri Ulgener (1981) suggests that trading patterns were influenced by the economic morality as sociated with Islam. The foremost objective of Muslims’ economic doctrine is to replace the individualistic economic morality with a communalist morality. Which means Muslim do not support private ownership and income inequality, which is necessary to provide incentive for individual effort, and it leads to discouraging consequences for merchants. As private property rights were not protected in Islamic countries it is possible that trade with Muslims or in their countries was inefficient, and merchants simply avoided having any deal in Muslim world. Of course this is not the only reason for static trading pattern, there are tons of factors that could affect it. We just see that Islamic morality might have had an impact on merchants. Islamic Law and Economic growth The economist Timur Kuran, who grew up in Turkey and teaches at Duke University, traced the causes of fault in achieving industrialization and stable growth in his well acclaimed book, The Long Divergence: How Islamic Law Held Back the Middle East. Islamic societies were slow to develop banks, commercial courts, joint stock companies, and the business organizations, for which Kuran blames social customs and religious rules, i. . Islamic laws. He focuses on laws covering business partnership and inheritance practices. These, he argues, discouraged the emergence of modern industrial corporations. In medieval times, trading partnership was the leading form of the business in the Middle East. In Islamic partnership any individual partner could end the relationship at will, and even the most successful ventures were terminated on the death of partner. As a result of these rule, most bu sinesses tended to be small and short-lived. By the end of nineteenth century, the most durable trading entities in many Islamic countries were operated by non-Muslims, such as Armenians and Jews, Kuran adds, these organizations too were limited in their ability to raise money from outsiders because the region lacked non-governmental financial channels. And this held back the establishment of corporations which would do huge contributions to economy. The other thing, according to Kuran, which hindered business consolidation is inheritance customs. Quran dictated that if Muslim merchant died at least two-third of his estate had to be split among surviving family members. This egalitarian Islamic law of inheritance discouraged the accumulation of wealth by dividing it among family members. The permissibility of polygamy fueled this problem as it divided the assets of wealthy merchants with multiple wives and children. Further, it prevented the creation of long-lasting, capital-intensive companies. These provocative claims are not backed up by statistical and empirical works, they generally derived basing only on a history. One can argue that claims are just hollow claims as Adeel Malik, professor in University of Oxford, did. But Kuran’s claims are sound and rational. In Western countries for instance giant corporations were vital part of economic engine, which fueled prosperity, and they didn’t have any rules slightly related to those of Islamic. This could mean that Kuran is right with his arguments and Muslims should pay a little attention to them and may be check up their rules and see whether it is compatible with modern economic and financial system. Islamic Banking While investigating Islamic economy, it is impossible to ignore their financial system. Islamic economic doctrine on prohibition against riba, Arabic word which means â€Å"interest† or â€Å"usury†, is widely known. Muslim world convinced that conventional financial system is decadent, immoral and inequitable. However, in modern world, the one who is out of this system is out of economic advancement because financial institutions are the only monetary support for a business investment. Muslims may think that Muslim lenders and borrowers have long found their own ways to circumvent, but some data prove the opposite. First of all Islamic Banks are deficient. These banks exist not in all predominantly Islamic nations. They have constituted only a small share of the national banking system. For instance in thirteen out of fifteen major Islamic countries listed by Henry and Wilson (2004 b:7), Islamic banks accounted for less than 17% of the share of commercial bank deposits in late 1990s, in Algeria, Iraq, Libya, Morocco, Oman, Syria, and Tunisia Islamic banks were nonexistent or minuscule. By the year 2000 only three countries – Iran, Pakistan, and Sudan- had Islamized their banking system. The implication of this information is that Islamic bank appears to be important in only very small number of Muslim countries. Shortage of banks is huge obstacle for new investments and emergence of any industrial businesses. Furthermore, Islamic banks are at a competitive disadvantage before other domestic or foreign bans for three reasons. First, a problem of moral hazard arises. Second, accounts in an Islamic bank must yield a return at least close to that of their competitors in order to attract deposits. Third, these banks are burdened with a curious problem of adverse selection. So, the future of Islamic banking does not seem to be glowing. As we see, the prohibition on interest serves no beneficial purpose. Elaborate scheme to circumvent such transactions because of their supposed immorality or due to their prohibition serve no purpose but except to increase costs and increase inefficiency. Conclusion This paper has reviewed important areas of economic activity and the role of Islam in it. And religion affirmatively has great influence on economy of Islamic world. Basing on all finding I conclude that Islam was inconductive to economic development, or at least less supportive than was Christian dominant countries. Few Muslims appreciated the discoveries and innovation, which has been fatal cause for physical resource or capital. The nature of Islamic education was not helpful in developing open minded citizens fully equipped to fulfill their ambitions and potential. Islamic attitude toward women negatively affects production and income. Very few Muslims were seeking to capitalize, which caused uncomfortable conditions for merchants. The constraints and costs imposed on financial institutions by the nominal prohibition on interest payments preclude a free market in financial capital, causing inefficiencies, moral hazard in banking system, and limiting the funds for investment. These were drawbacks of religion that possibly caused stagnation in Islamic countries. And of course there are ways of getting out of this situation. Recent history provides examples of Muslim countries seeking to engage I the global economy and some of them succeeding. Indonesia, for instance, in 2008 its inflation adjusted GDP per capita was five and half times what it was in 1990, in Malasia during the same period, it rose almost six fold. Just a generation ago, both of these nations were overwhelmingly rural and poverty stricken. Today, they are industrialized middle-income countries. May be some Islamic countries should follow the lead of Turkey, the country which was transformed into an economically vibrant democracy. Mustafa Kemal Ataturk, founder of Turkish Republic, in 1929 abolished the caliphate and imposed strict church-state divide. After 1980, Turgut Ozal removed barriers to foreign trade and investment. Party’s Islamic heritage hasn’t prevented it from embracing a policy of economic modernization. Today, Turkey is the world’s fifteenth-largest economy and a member of G-20. Example of Turkey suggests that it is possible to industrialize, modernize and still be faithful to religion, but Islam should not intervene in economic and political activities for its own sake, this will prevent Islam from being changed under the political influence and will maintain its cleanness. So, Islamic countries are not in perfect condition, however they have all opportunities to prosper. This research paper analyzed just some of the factors, further researches and surveys needs to be conducted to identify other possible problems of static economy of Muslim world and to provide empirical and statistical information on Timur Kuran’s arguments. References How to cite Role of Islam in Economic Develpoment, Papers Role of Islam in Economic Develpoment Free Essays International Ataturk-Alatoo University Role of Islam in Economic Development Done: Aizhamal ZHUMALIEVA Checked: Ibragim KONCAK 2012 Content Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1 Statistics and Trends†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Economics of Wealth Generation †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Islamic Merchants†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Islamic Law and Economic Growth†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Islamic Banking†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Introduction Researchers like Huntington (1996), Landes (1999), and Inglehart and Baker (2000) argue that explanations for economic growth should go further to include a nation’s culture. We will write a custom essay sample on Role of Islam in Economic Develpoment or any similar topic only for you Order Now Their argument absolutely makes sense because culture affects personal traits such as honesty, thrift, willingness to work hard, and openness to stranges, which consequently influences economic outcomes. Religion is thought to be one of the most important dimensions of culture. Thus Weber (1930) argued that religious practices and beliefs had important consequences for economic development. Islam is no exception, just as David Landes, the Harvard economic historian, wrote in his book â€Å"The Wealth and Poverty of Nations†, â€Å"No one can understand the economic performance of the Muslim nations without attending to the experience of Islam as faith and culture,† In 10th century, which is known as Golden Age for Islam, Muslim societies led the world in science, philosophy, culture and prosperity. But soon it came to the end, and Islamic countries have long lagged behind other countries. It is easy to define with the help of analysis of current international financial data. Those data highlight the great inequality in income between Christian dominant and Muslim dominant countries. The richest countries in the world are those of Europe, North America, and East Asia. Only a small number of Muslim countries approach to their income levels, and this is only due to their oil wealth. In many of Muslim countries income growth is low so that gap is widening. Scholars are sure that it is not just coincidence but Islam has significant influence on economic ascents and descents. If it is so, what role does Islam play in economic performance? How does it affect economic advancement? What spheres and industries does Islam influence? Is there any way to solve the problem? The purpose of this paper is to show the relationship between Islam and economy and critique some Islamic mechanisms that drag the economic activity. The first part of the paper suggests some statistical data that reflects general image of economic state of Islamic countries. Next section defines the process of wealth generation and impact of Islam on capital, innovation, and literacy. After, Islamic trading patterns are analyzed. Then Timur Kuran’s, well-known economist, arguments about economic effect of Islam are stated. And the last part reviews Islamic financial institutions. Statistics and Trends Level of economic development, whether measured by per capita income or variables like trade, literacy, science, scholarship and technology, has long been lower in the Islamic world than in Christian world, especially those of in West. Here is one empirical data that prove this situation with income per capita being a dependent variable. Table 1 is a regression model, which include 132 countries covered by the World Development Report for 1995, shows that relationship exists between Islam and per capita income. In the first regression, independent variable is the share of Muslim within total population, this regression indicates statistically significant negative relationship between two variables, but its fit is poor. The second regression, which includes additional independent variable, has considerably better fit. Membership in OPEC turns out to be a significant contributor to income, and location in Subsaharan Africa a highly significant depressor. The Muslim share of population remains very significant negative determinant of income. The model also reflects the fact that the African, South Asian, and East Asian countries with large Muslim minorities tend to be poorer than countries with Muslim majorities located in the Middle East. Table 1 The Relationship between Islam and Per Capita Income | (1)| (2)| Constant| 3. 33| 3. 55| Share Muslim| -0. 41***(-2. 57)| -2. 07****(-2. 87)| Square Share Muslim| | 1. 76**(2. 29)| OPEC Member| | 0. 42*(2. 20)| Susaharan Africa| | -0. 67*****(-5. 77)| R-squared| 0. 4| 0. 34| Notes: 132 countries were included in the regression. Asterisks *, **, ***, ****, ***** denote significance at the 0. 03, 0. 2, 0. 01, 0. 005, and 0. 0000 levels, respectively. Following charts show the Muslim share of global income and the share of global population. Income share is 5. 98 %, which is strikingly less than population share, which is 19. 22 %. According to this data we can assume that Muslims average income obviously lower than of non-Muslims. In most of the countries, where Muslims live in l arge numbers, are generally poorer. And few will deny this fact. To investigate how this outcome came up I will review the process of wealth creation and the role of Islam in this process. Figure 1 Economics of Wealth Generation Level of income in an economy is related to the volume of goods and services produced. The amount of this production in the long term is determined by three factors: the availability and exploitation of natural resource; the quantity of productive capacity in terms of buildings, infrastructure, machinery plant and equipment; and the availability, ability, training and resourcefulness of the workforce. These â€Å"factors of production† are essential to income producing capacities. Natural resource endowment of a country is a matter of circumstance, religion has nothing to do with availability of natural resource. Islamic countries, especially those in the Middle East are very lucky to have oil wealth, the biggest contributor to Muslim economy. Physical resources however are man-made. The availability of these resources depends on accumulation of physical investment in building construction, purchase of equipment and maintenance of the stock of these assets. It is here that the culture and religion, Islam in particular, may play a role. In order to create physical productive asset, what economists call â€Å"capital†, long process of planning, risk taking, vision and enterprise are required. Arthur Lewis (1955, 105) argued in his textbook on economic growth: â€Å"Some religions are more compatible with economic growth than others. If religion stress upon material value, upon work, upon thrift and productive investment, upon honesty in commercial relations, upon experimentation and risk bearing, and upon equality of opportunity, it will be helpful to growth, whereas in so far as it is hostile to this things, it tends to inhibit growth. † He did not provide the classifications of religion according to their support for development. But other economists like Luigi Guiso, Paola Sapienza, and luigi Zingales did. They conducted a multinational set of surveys that covers sixty-six countries. In a study that appeared in the Journal of Monetary Economics, they noted that, â€Å"on average, Christian religions are more positively associated with attitudes that are conductive to economic growth, while Islam is negatively associated. † In comparison with people of other religion, Muslims were generally less disposed to agree with pro-market statements such as â€Å"Competition is good†, â€Å"private ownership of business an industry should be increased†. It means that Muslims are not willing to adopt industrialization and modernization, without which creation of capital is barely possible. Report clearly indicates that Islam sufficiently discouraging economic development in terms of physical resources. The same opinion had Daniel (19958, 405) who wrote in his best-known work, The Passing of Traditional Society, that â€Å"the top policy problem, for three generations of Middle Eastern leaders, has been whether one must choose between ‘Mecca or Mechanization’ or whether one can make them compatible. He observed that Islam was inimical to the structural changes essential to the Islamic world’s progress. Affirmatively Islam played very effective role in capital creation and obviously negative. So, if country’s aim was to develop, choice would ultimately get resolved in favor of ‘mechanization’. The third factor of production is human resource. This is not jus a matter of population. People need t o be educated and trained in order to make use of the physical capital. Religion may play a role here too – possibly negative one. To the question whether Islam contributed to shaping the educational system that limited curiosity and innovation Lewis (1982, 229) answers in the affirmative. But how? Islam highly encourages education. It might have stemmed from the closure of the gate ‘ijtihad’, which meant end of freedom of innovation, independent judgment, and that all answers were already available and needed merely to follow and obey. Treating Islamic learning as perfection helped support an educational system that emphasized rot learning and memorization at the expense of problem solving. Granting that the prevailing educational system must have limited inquisitiveness and innovation, it could have extinguished new ideas and the desire for change. This resulted in overwhelmingly illiterate Muslim population. The scene has not changed a lot in present days either, series of reports for United Nations pointed out that adult literacy rate barely topped fifty percent, which is disastrous for economic development. If there is no human resource who can tackle technology, machinery what are they needed for anyway? The nature of progress is improvements in physical capital over time that deliver increased output for given amount of material and labor input – higher productivity. By labor meant highly educated and trained people, whom obviously lacks Muslim world. This ‘knowledge deficit’ has severely impeded economic growth. One thing that I cannot skip is the attitude toward women in Islam. In Islam women are inferior to men. Recent figures from the International Labor Organizations, published by world Bank, indicate that in the Middle East and North Africa, women comprise 28 % of the total labor force, whereas the world average is 40 %. As a group, these countries have the lowest female labor force participation in the world. One of the lowest figures is Saudi Arabia with 16%. This is reflection of cultural values regarding women in Muslim countries, values inseparable from religious values, which form following consequences. First, it decreases the overall income of country. If women were engaged in paid employment, increasing the labor force by 30%, additional contribution to national income would be around of 10%. Second, this limitation reduces potential production. Third, it is associated with higher birth in these countries, which correspondingly per capita income growth rate. So, this Islamic wise about women contribute to relative poverty. Now, as we have obtained sufficient image on how Islam has influenced the process of wealth generation I would like to take a quick look at Muslims trading patterns. Islamic Merchants The fact that Muslims ended up to be poor at trading puzzles me because the founder of Islam, The Prophet Muhammad is believed to have been a merchant, and in one occasion he reportedly said, â€Å"The trustworthy merchant will sit I in the shade of Allah’s throne. It is especially puzzling that Muslim merchants, given that early Islamic thought harbor certain pro-competitive traditions, along with Muslim consumers who stood to benefit from greater competition, failed to counter the anti-competitive influence of the guilds. Sabri Ulgener (1981) suggests that trading patterns were influenced by the economic morality as sociated with Islam. The foremost objective of Muslims’ economic doctrine is to replace the individualistic economic morality with a communalist morality. Which means Muslim do not support private ownership and income inequality, which is necessary to provide incentive for individual effort, and it leads to discouraging consequences for merchants. As private property rights were not protected in Islamic countries it is possible that trade with Muslims or in their countries was inefficient, and merchants simply avoided having any deal in Muslim world. Of course this is not the only reason for static trading pattern, there are tons of factors that could affect it. We just see that Islamic morality might have had an impact on merchants. Islamic Law and Economic growth The economist Timur Kuran, who grew up in Turkey and teaches at Duke University, traced the causes of fault in achieving industrialization and stable growth in his well acclaimed book, The Long Divergence: How Islamic Law Held Back the Middle East. Islamic societies were slow to develop banks, commercial courts, joint stock companies, and the business organizations, for which Kuran blames social customs and religious rules, i. . Islamic laws. He focuses on laws covering business partnership and inheritance practices. These, he argues, discouraged the emergence of modern industrial corporations. In medieval times, trading partnership was the leading form of the business in the Middle East. In Islamic partnership any individual partner could end the relationship at will, and even the most successful ventures were terminated on the death of partner. As a result of these rule, most bu sinesses tended to be small and short-lived. By the end of nineteenth century, the most durable trading entities in many Islamic countries were operated by non-Muslims, such as Armenians and Jews, Kuran adds, these organizations too were limited in their ability to raise money from outsiders because the region lacked non-governmental financial channels. And this held back the establishment of corporations which would do huge contributions to economy. The other thing, according to Kuran, which hindered business consolidation is inheritance customs. Quran dictated that if Muslim merchant died at least two-third of his estate had to be split among surviving family members. This egalitarian Islamic law of inheritance discouraged the accumulation of wealth by dividing it among family members. The permissibility of polygamy fueled this problem as it divided the assets of wealthy merchants with multiple wives and children. Further, it prevented the creation of long-lasting, capital-intensive companies. These provocative claims are not backed up by statistical and empirical works, they generally derived basing only on a history. One can argue that claims are just hollow claims as Adeel Malik, professor in University of Oxford, did. But Kuran’s claims are sound and rational. In Western countries for instance giant corporations were vital part of economic engine, which fueled prosperity, and they didn’t have any rules slightly related to those of Islamic. This could mean that Kuran is right with his arguments and Muslims should pay a little attention to them and may be check up their rules and see whether it is compatible with modern economic and financial system. Islamic Banking While investigating Islamic economy, it is impossible to ignore their financial system. Islamic economic doctrine on prohibition against riba, Arabic word which means â€Å"interest† or â€Å"usury†, is widely known. Muslim world convinced that conventional financial system is decadent, immoral and inequitable. However, in modern world, the one who is out of this system is out of economic advancement because financial institutions are the only monetary support for a business investment. Muslims may think that Muslim lenders and borrowers have long found their own ways to circumvent, but some data prove the opposite. First of all Islamic Banks are deficient. These banks exist not in all predominantly Islamic nations. They have constituted only a small share of the national banking system. For instance in thirteen out of fifteen major Islamic countries listed by Henry and Wilson (2004 b:7), Islamic banks accounted for less than 17% of the share of commercial bank deposits in late 1990s, in Algeria, Iraq, Libya, Morocco, Oman, Syria, and Tunisia Islamic banks were nonexistent or minuscule. By the year 2000 only three countries – Iran, Pakistan, and Sudan- had Islamized their banking system. The implication of this information is that Islamic bank appears to be important in only very small number of Muslim countries. Shortage of banks is huge obstacle for new investments and emergence of any industrial businesses. Furthermore, Islamic banks are at a competitive disadvantage before other domestic or foreign bans for three reasons. First, a problem of moral hazard arises. Second, accounts in an Islamic bank must yield a return at least close to that of their competitors in order to attract deposits. Third, these banks are burdened with a curious problem of adverse selection. So, the future of Islamic banking does not seem to be glowing. As we see, the prohibition on interest serves no beneficial purpose. Elaborate scheme to circumvent such transactions because of their supposed immorality or due to their prohibition serve no purpose but except to increase costs and increase inefficiency. Conclusion This paper has reviewed important areas of economic activity and the role of Islam in it. And religion affirmatively has great influence on economy of Islamic world. Basing on all finding I conclude that Islam was inconductive to economic development, or at least less supportive than was Christian dominant countries. Few Muslims appreciated the discoveries and innovation, which has been fatal cause for physical resource or capital. The nature of Islamic education was not helpful in developing open minded citizens fully equipped to fulfill their ambitions and potential. Islamic attitude toward women negatively affects production and income. Very few Muslims were seeking to capitalize, which caused uncomfortable conditions for merchants. The constraints and costs imposed on financial institutions by the nominal prohibition on interest payments preclude a free market in financial capital, causing inefficiencies, moral hazard in banking system, and limiting the funds for investment. These were drawbacks of religion that possibly caused stagnation in Islamic countries. And of course there are ways of getting out of this situation. Recent history provides examples of Muslim countries seeking to engage I the global economy and some of them succeeding. Indonesia, for instance, in 2008 its inflation adjusted GDP per capita was five and half times what it was in 1990, in Malasia during the same period, it rose almost six fold. Just a generation ago, both of these nations were overwhelmingly rural and poverty stricken. Today, they are industrialized middle-income countries. May be some Islamic countries should follow the lead of Turkey, the country which was transformed into an economically vibrant democracy. Mustafa Kemal Ataturk, founder of Turkish Republic, in 1929 abolished the caliphate and imposed strict church-state divide. After 1980, Turgut Ozal removed barriers to foreign trade and investment. Party’s Islamic heritage hasn’t prevented it from embracing a policy of economic modernization. Today, Turkey is the world’s fifteenth-largest economy and a member of G-20. Example of Turkey suggests that it is possible to industrialize, modernize and still be faithful to religion, but Islam should not intervene in economic and political activities for its own sake, this will prevent Islam from being changed under the political influence and will maintain its cleanness. So, Islamic countries are not in perfect condition, however they have all opportunities to prosper. This research paper analyzed just some of the factors, further researches and surveys needs to be conducted to identify other possible problems of static economy of Muslim world and to provide empirical and statistical information on Timur Kuran’s arguments. References How to cite Role of Islam in Economic Develpoment, Essay examples

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I believe that making my loving ones happy, makes me happier rather than being happy by hurting them or ignoring them. When I see the beautiful smile of my loved ones because of me, make me happy and feel very comfortable which I cannot find from any other things In my life. From my childhood, I am a person who always observes the facial expressions of people around me while am talking to them. When I see even less negative change on their faces, I feel really upset and talking a lot about what went wrong of my behavior while I was with them.Even before I do anything I think more about whether this will make happy my parents and people around me. Even in my school time I had a good understanding about my friends. Even though they were not with me most of the times, they used to come to me and share their regrets with me. We will write a custom essay sample on My Guide or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I try in my maximum to cheer them up when they are down and console them as a friend. But in some moments I had to accept lots of misunderstanding from them as a return instead of thanking as well. I am a person with lots of care about the feeling of my loved ones. I dont use to say a single word that makes them hurt even I am in angry.As they know me, every time they want a relief they talk to me. I always am a good listener to them; encourage them to follow what they want. Make them feel appreciated and admiring them sincerely by telling them some the things to make them comfortable and stay with them all the time. When they ask me a help, I sacrifice my own time and being with them to help them. Even though I am with them in every time they need me, its really difficult to find anyone to help me, make me encourage when I have fallen down most of the times with their busy schedules.At such times, I talk to myself and make me comfortable, aka me encourage facing the situation. I know for sure this happens to me not because of they dont love me but because of their busy schedules. But I love that if they can spend a little time with me when I fallen down somewhere, as I spend my time with them as much as I can whenever they want me. And I love to hear their appreciation of how my help assist them to overcome their sorrows, while I expecting nothing back from them other than their happiness and smiles. But It doesnt make me sad or feeling bad about them and It Is simply because of I used to be happy by making them happy.Even though I have experienced lots of difficulties because of this quality of mine, I still dont want to change it since it is me and one of my qualities I like a lot. Even though there are both good and bad things with this quality, I strongly believe that the one and only most valuable asset of a human being is not the brain with the full of knowledge but the heart fills with the kindness, ears which is willing to listen others and the strong hands to help others when they fall down. This is me and I am happy in million ways when I see the heartiest smiles on their faces because of me. My GuideBy diligently from any other things in my life. From my childhood, I am a person who always observes the facial expressions of people around me while I am talking to them. When I see even less negative change on their faces, I feel really upset and thinking a with lots of care about the feeling of my loved ones. I dont use to say a single word what they want. Make them feel appreciated and admiring them sincerely by telling because of they dont love me but because of their busy schedules.