Some abstraction is necessary for scientific analysis to proceed. Traditions change only in the long run and can be abstracted away in a short-term analysis,carrera lunettes. Demonstration effect and peer pressure also belong to that category, though to a lesser extent,oakley pas cher. Taking the easiest course (by maintaining the status quo,ray ban pas cher, for example) leads to different paths in different cases and cannot be handled scientifically,puma pas cher. It is better left to be taken into account at the policy level,borse longchamp, if and when needed,lunettes chanel,An Approach To Islamic Economics. The remaining four factors are of a different nature,carrera lunettes site officiel. They should not be abstracted away without careful consideration of the implications of doing so,lunette carrera.
Before we proceed to consider the desirability and possibility of including care for others and spiritual-moral dimensions of economic decisions into behavioral analysis,sac chanel, a word on the interrelation between analysis and policy prescription is called for. In other words we have to ponder over the relation of studying what is and what should be in an aspect of life susceptible to human will,sac chanel pas cher. When the ‘is’, the existing reality at a particular time and place,lunette oakley, is the creation of willful choice by economic agents,oakley straight, it becomes very important to know how those choices are made,lunettes de soleil carrera pas cher. One’s view of what one should choose would affect what one actually chooses,chanel pas cher. This in turn is of great significance to policy makers targeting results that are easier obtained through reshaping incentives,ray ban pas cher.
Insofar as policy is directed at well-defined goals,longchamp outlet, it would help to get economic agents willfully choose paths leading to those goals,chaussures puma speed cat. A study of the relation between possible paths of action and desirable goals would,bijoux chanel pas cher, therefore,ray ban clubmaster pas cher, occupy center stage in economic policy studies,carrera spaccio. To make these studies meaningful,puma pas cher, economic analysis too would have to pay attention to factors influencing choice,carrera occhiali. One’s world-view (spirituality) and leanings towards goodness (morality) would be prime influencing factors to be considered,lunette oakley. Care for others,ray ban clubmaster, individuals as well as the society or humanity as a whole,lunette carrera, becomes the immediate expression of spirituality and morality in economic choice,oakley pas cher. While the actual content of care for others in a particular time and place for a particular economic agent will require empirical rather than logical/theoretical study,carrera online, the mere admittance of this dimension in economics has far reaching consequences,polo ralph lauren.
It is a well-established point that incentives can be reshaped,polo ralph lauren outlet, by education,oakley crowbar, example,puma chaussure,An Approach To Islamic Economics, promise of reward,ray ban lunettes, threat of punishment,ray ban lunettes, etc. The possibility of a change in behavior in response to a change in incentives opens a whole range of topics in economic analysis as well as in policy studies,carrera lunettes. Instead of posing as passive observers recording how economic agents behave,chaussures puma, economists could proceed,longchamp borse, in the light of desirable goals of behavior,chaussures puma, to lay down proper policies for guiding economic agents’ behavior towards those goals.
Part one of a series on Islamic Banking.
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