Publications (2009)

Critical Mission of the Muslim Economist

Published in: La_Riba, Jurnal Ekonomi Islam, Vol 2, No. 1, Juli 2008, Universitas Islam, Indonesia, also in Pakistan Management Review, 2nd Qtr. 2009


Corruption: Measuring the Unmeasurable,” (joint with Faiz-ur-Rahim)

Published in: Humanomics, Vol 25, number 2, June 2009, p 117-126.
Purpose– The purpose of this paper is to argue that corruption is inherently unmeasurable. Measures of corruption produced by different sources are highly unsatisfactory. Useful measures may be possible for specific purposes in limited contexts. Reasons why highly unsatisfactory measures are in use have to do with politics and power, rather than utility of these measures.
Design/methodology/approach– The paper shows that different dimensions of corruption cannot be reduced to a single number without serious loss of information. For example the number and size of bribes cannot be reduced to a single index. The difference between perceptions of corruption and the reality also makes most popular indices useless.
Findings– The paper shows that commonly used measures of corruption are useless for their ostensible purposes. Evidence is presented that they are calculated and used for political purposes. In particular, they provide convenient excuses for the widespread failure of the structural adjustment
programs of IMF and World Bank.
Originality/value– The paper’s findings cast doubt on the vast amount of research which takes the corruption measures as objective and factual, and attempts to find causal factors for corruption, as well as effects of corruption on growth and other variables.
Keywords:Corruption, Perception, Quantitative methods
Paper type:Conceptual paper

Origins of Western Social Science

Published in: Journal of Islamic Economics, Banking and Finance, vol 5, number 2, May-August 2009, p. 9-22
Abstract: On the whole, Muslims have accepted Western claims that both social sciences and physical sciences are equally fact and logic based, and “positive” descriptions of reality. In fact, Western formulations of social sciences hide ethical and social commitments to secular views which conflict the Islamic views. Widespread acceptance by Muslims of these false claims to factuality and objectivity has prevented the development of genuine Islamic alternatives, and has been a serious obstacle to progress in the project of “Islamization of Knowledge”. The goal of this paper is to examine the origins of Western Social Science, and to show how it is based on secular preconceptions antithetical to Islam.

The Limits of Market Economy

Published in: entry in Encyclopedia of Islamic Economics,to appear.


Islamic Attitude towards Motives, Incentives of of Economic Agents and the Role of Information”

Published in: entry in Encyclopedia,” Draft of Entry for Encyclopaedia of Islamic Economics,to appear. 27 Oct. 2009, revised 9 Dec. 2009