Publications

Everything I have published, most recent first, with a link to a copy wherever one exists. Work currently under way is listed at the top.

Also on SSRN, Google Scholar, ResearchGate and Academia.

Work in progress

• Agentic Causality: The Acquisition of Causal KnowledgeUnder review
• An Islamic Approach to Macroprudential RegulationRevise and resubmit, Journal of King Abdulaziz University: Islamic Economics
• The Gold Dinar Debate Reframed: Moving Beyond Slogans to Monetary ArchitectureUnder review
• Agent Based Models: A New Approach to EconomicsTextbook in preparation

Items move into the list below as they appear in print.

Books

• Islamic Economics: The Polar Opposite of Capitalist Economics. Jointly published by Akhuwat Foundation and Islamic Research Institute, Islamabad, 2025.Pakistan softcover (Akhuwat / IRI, 2025) Turkish (Nobel) Turkish (Nokta) Turkish on Amazon Indonesian (Gramedia) Bengali Book pageReviewed by A. Sultan, JKAU: Islamic Econ. 36(2), 2023, 135–145
• An Islamic Worldview: Essays on the Conflict Between Islam and Modernity. Kindle Edition, 2017.
• Statistical Foundations for Econometric Techniques. Academic Press, New York, 1996.WEA Books eBook edition, 2015, ISBN 978-1-911156-25-3 (WEA members only) Reviewed by N. R. Swanson, Econometric Reviews

Articles and chapters

2026

• “Reclaiming Economics as a Moral Science: An Islamic Approach to Monetary Reform,” Turkish Journal of Islamic Economics, 2026 (online first).

2025

• “Technocratic Dreams, Political Realities,” The Pakistan Development Review, Vol. 64, No. 2, 2025, pp. 153–173.
• “How Muslims Should Teach Secular Subjects” (Musalman Asatiza Maghribi Uloom Kaise Parhayen), Al-Farooq, Jamia Farooqia, November 2025.[in Urdu]
• “History and the Social Sciences: A First Look from an Islamic Perspective,” Bayyinat, Jamia Binoria, November 2025.[in Urdu]

2024

• “Enlightenment Epistemology and the Climate Crisis,” Real-World Economics Review, Issue 108, 2024, pp. 29–32.
• “Islamic Finance and Community Empowerment: A Strategic Vision for the Global Ummah,” COMCEC 40th Anniversary Special Edition, November 2024, pp. 182–192.
• “How Theories Shape, and Are Shaped by, History,” in The Routledge Handbook of Karl Polanyi, eds. Michele Cangiani and Claus Thomasberger, 1st ed., Routledge, 2024.
• “The Central Importance of Education to the Revival of Islam,” Policy Perspectives, Vol. 21, No. 2, 2024, pp. 109–131.
• “The Central Importance of Education to the Revival of Islam” (Aḥyāʾ-e Islām mein Islāmī Niẓām-e Taʿlīm kī Markaziyyat), Mahnāmah ʿĀlamī Tarjumān al-Qurʾān, September 2024.[in Urdu]

2023

• “Three Generations of Islamic Economics,” The International Journal of Islam, Vol. 1, Issue 2, November 2023.
• “Positivism and the Plight of the Planet,” Real-World Economics Review, special issue on “How can we construct an economics consistent with the biophysical limits to economic growth,” 2023.

2022

• “The Dazzle of Western Knowledge” (Jalwaʾ-e Dānish-e Farang), Bayyināt, Muharram 1444 AH (August 2022).[in Urdu]

2021

• “Islamic Alternatives to the Secular Morality Embedded in Modern Economics,” Journal of King Abdulaziz University: Islamic Economics, 2021.
• “The Puzzle of Western Social Science,” Academia Letters, Article 459, March 2021.
• “Reclaiming Our Lives and Our Planet,” International Journal of Pluralism and Economics Education, Vol. 12, No. 2, 2021, pp. 102–113.
• (with Junaid Qadir) “Islamic Approaches to Sustainable Development,” International Journal of Pluralism and Economics Education, Vol. 10, No. 1, pp. 46–60.

2020

• “Models and Reality: How Did Models Divorced From Reality Become Epistemologically Acceptable?” Real-World Economics Review, Issue 91, March 2020, pp. 20–44.
• (with Sidika Basci) “New Directions in Macroeconomics,” International Econometric Review, Vol. 12, Issue 1, 2020, pp. 1–23.SSRN

2019

• “Islam’s Gift: An Economy of Spiritual Development,” American Journal of Economics and Sociology, Vol. 78, No. 2, March 2019, pp. 443–491.
• “Launching a Revolution, Based on Islamic Foundations,” Journal of King Abdulaziz University: Islamic Economics, Vol. 32, No. 2, July 2019, pp. 77–88.
• (with Arif Naveed and Atiq ur Rahman) “Wealth as an Indicator of Socio-Economic Welfare: Islamic Views,” Chapter 6 in Towards a Maqāṣid al-Sharīʿah Index of Socio-Economic Development: Theory and Application, ed. Salman Syed Ali, Palgrave Macmillan, October 2019.

2018

• “An Islamic Approach to Inequality and Poverty,” Journal of King Abdulaziz University: Islamic Economics, Vol. 31, No. 1, January 2018, pp. 69–92.
• (with Junaid Qadir) “The Ends of Development in Islam: Seven Overlapping Concepts,” Journal of Islamic Banking and Finance, Vol. 35, No. 3, 2018.

2017

• (with Junaid Qadir) “Putting Social Justice First: The Case of Islamic Economics,” Journal of Islamic Banking and Finance, Vol. 34, Issue 4, October–December 2017, pp. 87–99.

2016

• “Unregulated Markets and the Transformation of Society,” Chapter 18 in Routledge Handbook of Ecological Economics: Nature and Society, ed. Clive Spash, Routledge, 2016.
• “The Methodology of Polanyi’s Great Transformation,” Economic Thought, Vol. 5, No. 1, 2016, pp. 44–63.
• (with Saima Naeem) “Charity and Gift Exchange: Cultural Effects,” VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, Vol. 27, Issue 2, April 2016, pp. 900–919.
• (with Rafi Amir-ud-Din) “Failures of the ‘Invisible Hand’,” Forum for Social Economics, Vol. 45, Issue 1, 2016, pp. 41–60.
• “The Battle for the Control of Money: Comments on Zarlenga and Poteat, ‘The Nature of Money in the Modern Economy—Implications and Consequences’,” Journal of King Abdulaziz University: Islamic Economics, Vol. 29, No. 2, July 2016, pp. 81–94.
• “Objectives of Financial Institutions: Western and Islamic,” Journal of Islamic Business and Management, Vol. 5, No. 2, 2016, pp. 43–68.
• “Positivist Misconceptions: An Obstacle to Understanding Pluralism,” International Journal of Pluralism and Economics Education, Vol. 7, No. 1, 2016, pp. 93–96.
• (with Gulfam Haider and Mumtaz Ahmed) “Detecting Structural Change with Heteroskedasticity,” Communications in Statistics – Theory and Methods, Vol. 46, Issue 21, 2016.

2015

• “Islam Versus Economics,” Chapter 3 in Handbook on Islam and Economic Life, eds. M. Kabir Hassan and Mervyn K. Lewis, Edward Elgar, 2015.
• “Re-Defining Islamic Economics,” Chapter 3 in Islamic Economics: Basic Concepts, New Thinking and Future Directions, eds. Taha Eğri and Necmettin Kızılkaya, Cambridge Scholars Publishing, 2015. (Turkish translation available.)
• “Building Genuine Islamic Financial Institutions,” Journal of Islamic Economics, Banking and Finance, Vol. 11, No. 2, April–June 2015, pp. 13–32.
• “Deification of Science and Its Disastrous Consequences,” International Journal of Pluralism and Economics Education, Vol. 6, No. 2, 2015, pp. 181–197.

2014

• “An Islamic Approach to Humanities,” Journal of King Abdulaziz University: Islamic Economics, Vol. 27, No. 2, 2014/1435, pp. 3–27.
• “Evaluating the Costs of Growth,” Real-World Economics Review, Issue 67, 9 May 2014, pp. 41–51.
• “Challenging the Current Economics Curriculum: Creating Challengers and Change,” Chapter 2 in The Economics Curriculum: Towards a Radical Reformulation, eds. Maria Alejandra Madi and Jack Reardon, WEA Conference volume, December 2014.
• (with Saima Naeem) “Gender and Ultimatum in Pakistan: Revisited,” Pakistan Development Review, Vol. 53, Spring 2014, pp. 1–14.

2013

• “Death of a Metaphor: The Invisible Hand,” International Journal of Pluralism and Economics Education, Vol. 4, No. 1, March 2013, pp. 15–29.
• “Logical Positivist Methodology and Islamic Economics,” International Journal of Economics, Management and Accounting, Vol. 21, No. 2, December 2013, pp. 1–18.
• “Is Development Accumulation of Wealth? Islamic Views,” Afro Eurasian Studies, Vol. 2, Issues 1 & 2, August 2013.
• (with Mamona Sadaf) “Potential of Water Management through Pakistani Provincial Trade of Agricultural Commodities,” International Water Technology Journal, Vol. 3, Issue 3, September 2013.

2012

• “Crisis in Islamic Economics: Diagnosis and Prescriptions,” Discussion Paper, Journal of King Abdulaziz University: Islamic Economics, Vol. 25, No. 1, April/May 2012.
• “Response to Comments on ‘Crisis in Islamic Economics’,” Rejoinder, Journal of King Abdulaziz University: Islamic Economics, Vol. 25, No. 2, September 2012, pp. 227–250.
• “Methodological Mistakes and Econometric Consequences,” International Econometric Review, Vol. 4, Issue 2, September 2012, pp. 99–122.
• “The Normative Foundations of Scarcity,” Real-World Economics Review, Issue 61, 26 September 2012, pp. 22–39.
• (with Mehmet Karacuka) “The Empirical Evidence Against Neoclassical Utility Theory: A Review of the Literature,” International Journal of Pluralism in Economics Education, Vol. 3, No. 4, December 2012, pp. 366–414.
• (with Taseer Salahuddin) “Multidimensional Poverty Measurement in Pakistan: Time Series Trends and Breakdown,” The Pakistan Development Review, Vol. 51, Issue 4, 2012, pp. 493–504.
• “Transition to Secular Thought in Europe: Lessons for Muslims,” Insights, Vol. 4, No. 3–4, Daʼwah Academy, International Islamic University, Islamabad, Spring–Summer 2012.

2011

• “Power/Knowledge and Economic Theories,” Lahore Journal of Policy Studies, Vol. 4, No. 1, 2011, pp. 71–78.

2010

• “The Rise and Fall of Market Economies,” Review of Islamic Economics, Vol. 14, No. 2, 2010. Reprinted as Chapter 2 of Civilization and Values: Open Civilization – Istanbul Approach, eds. M. Yalçıntaş, I. Kurulay and R. Şentürk, Istanbul: ICOC, pp. 140–178.
• “Islamic Economics: A Survey of the Literature,” Religion and Development Working Paper 22, University of Birmingham, 2008. Published in three parts: Part I, Islamic Studies 48:3 (2009), pp. 395–424; Part II, Islamic Studies 48:4 (2009), pp. 525–566; Part III, Islamic Studies 49:1 (2010), pp. 37–63.
• (with Esfandiar Maasoumi and Mumtaz Ahmed) “Tests for Structural Change, Homogeneity, and Aggregation,” Economic Modelling, Vol. 27, 2010, pp. 1382–1391.
• “Causal Relations via Econometrics,” International Econometric Review, Vol. 2, No. 1, 2010.
• (with Sidika Basci and Arzdar Kiraci) “Variance Estimates and Model Selection,” International Econometric Review, Vol. 2, No. 2, 2010.
• (with Saima Mahmood) “Monetary and Non-Monetary Gift Exchange,” Pakistan Development Review, Vol. 49, No. 4, Winter 2010.
• “Scarcity: East and West,” Journal of Islamic Economics, Banking and Finance, Vol. 6, No. 1, January–March 2010.
• “Anti-Poverty Policies and Anti-Poor Philosophies,” Journal of Business and Economics, Vol. 2, No. 2, July–December 2010.

2009

• (with Faiz-ur-Rahim) “Corruption: Measuring the Unmeasurable,” Humanomics, Vol. 25, No. 2, June 2009, pp. 117–126.
• “Origins of Western Social Science,” Journal of Islamic Economics, Banking and Finance, Vol. 5, No. 2, May–August 2009, pp. 9–22.
• “Critical Mission of the Muslim Economist,” La Riba: Jurnal Ekonomi Islam, Vol. 2, No. 1, July 2008, Universitas Islam Indonesia; also Pakistan Management Review, 2nd Quarter 2009.

2008

• “Experiences of IIIE: 1983–2007,” Conference Papers, The 7th International Conference in Islamic Economics: Thirty Years of Research in Islamic Economics, Jeddah, 1–3 April 2008, pp. 123–134.
• “Improving Social Science Education in Pakistan,” Lahore Journal of Policy Studies, Vol. 2, No. 1, June 2008.

2007

• “An Islamic Worldview: An Essential Component of an Islamic Education,” Lahore Journal of Policy Studies, Vol. 1, No. 1, June 2007, pp. 95–106.
• “Response to Comments on ‘Towards a New Paradigm for Economics’,” Journal of King Abdulaziz University: Islamic Economics, Vol. 20, No. 1, 2007/1428, pp. 73–82.

2006

• “Islamic Economics: Problems and Prospects,” Market Forces, Journal of Management, Informatics and Technology, Vol. 2, No. 1, April 2006, pp. 46–53.
• “Response to Comments on ‘Islamic Economics: Problems and Prospects’,” Market Forces, Journal of Management, Informatics and Technology, Vol. 2, No. 3, October 2006, pp. 233–240.

2005

• (with A. Özlem Önder) “Robust Tests for Normality of Errors in Regression Models,” Economics Letters, Vol. 86, Issue 1, January 2005, pp. 63–68.
• (with Syed Kanwar Abbas) “Efficiency Wage Hypothesis: The Case of Pakistan,” Pakistan Development Review, Vol. 44, No. 4, Winter 2005, pp. 1051–1066.
• “Towards a New Paradigm for Economics,” Journal of King Abdulaziz University: Islamic Economics, Vol. 18, No. 2, 2005/1426, pp. 49–59.

2003

• (with Asiye Özlem Önder) “Tests for Normality Based on Robust Regression Analysis,” pp. 296–306 in Developments in Robust Statistics: International Conference on Robust Statistics 2001, eds. R. Dutter, P. Filzmoser, U. Gather and P. Rousseeuw, Springer-Verlag, Germany, 2003.
• (with Gulnur Muradoglu and Mehmet Orhan) “Measuring the Systematic Risk of IPOs Using Empirical Bayes Estimates in the Thinly Traded Istanbul Stock Exchange,” International Journal of Business, Vol. 8, No. 3, Summer 2003, pp. 315–334.

2002

• “Maximum Likelihood Estimates for the Hildreth-Houck Random Coefficients Model,” Econometrics Journal, Vol. 5, No. 1, 2002, pp. 237–262.

2001

• (with Peter J. Rousseeuw and Mehmet Orhan) “Econometric Applications of High Breakdown Regression Estimators,” Economics Letters, Vol. 71, 2001, pp. 1–8.
• “Interest and the Modern Economy,” The Lahore Journal of Economics, Vol. 6, No. 1, January–June 2001, pp. 113–127; also Islamic Economic Studies, Vol. 8, No. 2, Muharram 1422H (April 2000), pp. 61–74.

2000

• “The Inconsistency of the Breusch-Pagan Test,” Journal of Economic and Social Research, Vol. 2, No. 1, 2000, pp. 1–11.
• (with Erdem Basci and Sidika Basci) “A Method for Detecting Structural Breaks and an Application to Turkish Stock Markets,” METU Studies in Development, Vol. 27, No. 1–2, 2000, pp. 35–45.

1998

• (with Sidika Basci) “Effects of Skewness and Kurtosis on Model Selection Criteria,” Economics Letters, Vol. 59, 1998, pp. 17–22.

1994

• (with William J. Carrington) “Interindustry Variation in the Costs of Job Displacement,” Journal of Labor Economics, Vol. 12, No. 2, April 1994, pp. 243–275.

1992

• (with Haroon Jamal) “Decomposition of Growth Trends in Agriculture: Another Approach,” Indian Journal of Agricultural Economics, Vol. 47, No. 4, 1992.
• “Towards Foundations for an Islamic Theory of Consumer Behavior,” in Readings in Microeconomics: An Islamic Perspective, eds. Sayyid Tahir, Aidit Ghazali and Syed Oman Syed Agil, Longman Malaysia, Kuala Lumpur, 1992.

1991

• “Asymptotic Suprema of Averaged Random Functions,” Annals of Statistics, Vol. 19, No. 4, 1991, pp. 2145–2159.

1989

• “Consistency via Type 2 Inequalities: A Generalization of Wu’s Theorem,” Econometric Theory, Vol. 5, 1989, pp. 272–286.
• (with Shameem Siddiqui) “Investment and Income Distribution Pattern under Musharka Finance: The Certainty Case,” Pakistan Journal of Applied Economics, Vol. 8, No. 1, Summer 1989.
• (with Shameem Siddiqui) “Investment and Income Distribution Pattern under Musharka Finance: The Uncertainty Case,” Pakistan Journal of Applied Economics, Vol. 8, No. 1, Summer 1989.

1988

• “A Type 2 Inequality for Functions of Bounded Variation,” Journal of Multivariate Analysis, Vol. 24, No. 1, 1988, pp. 53–55.

1987

• “On the Impossibility of Events of Zero Probability,” Theory and Decision, Vol. 23, 1987, pp. 157–159.
• (with A. H. Shaikh) “Short-term Forecasting: An Application of Box-Jenkins Methods — A Reply,” Pakistan Journal of Applied Economics, Vol. 6, No. 2, 1987, pp. 125–129.

1986

• “Microfoundations for the Basic Needs Approach to Development: The Lexicographic Utility Function,” Pakistan Journal of Applied Economics, Vol. 5, No. 1, 1986, pp. 1–11.

1985

• (with T. W. Anderson and Charles Stein) “Best Invariant Estimation of a Direction Parameter with Application to Linear Functional Relationships and Factor Analysis,” Annals of Statistics, Vol. 13, No. 2, 1985, pp. 525–533.
• “Admissibility of the Maximum Likelihood Estimate of the Reciprocal of a Normal Mean with a Class of Zero-One Loss Functions,” Sankhya, Vol. 47, Series A, Part 2, 1985, pp. 239–246.

1984

• “Avoiding Model Selection by the Use of Shrinkage Techniques,” Journal of Econometrics, Vol. 25, 1984, pp. 239–246.

1983

• (with Abdul-Hafeez Sheikh) “Forecasting Without Theory: The Case of Pakistan’s Exports of Rice and Cotton,” Pakistan Journal of Applied Economics, Vol. 1, No. 2, 1983, pp. 65–83.

1982

• (with J. O. Berger and L. M. Berliner) “General Admissibility and Inadmissibility Results of Estimation in a Control Problem,” Annals of Statistics, Vol. 10, No. 3, 1982, pp. 838–856.

1981

• “A Complete Class Theorem for the Control Problem, and Further Results on Admissibility and Inadmissibility,” Annals of Statistics, Vol. 9, No. 4, July 1981, pp. 812–821.
• “Estimators Without Moments: The Case of the Reciprocal of a Normal Mean,” Journal of Econometrics, Vol. 15, No. 2, February 1981, pp. 289–298.

Comments, reviews and editorial notes

• (with Jack Reardon) Foreword to Special Issue on the Challenge of Islamic Economics, International Journal of Pluralism and Economics Education, Vol. 6, No. 4, 2015, pp. 313–323.
• Review of House of Debt by Atif Mian and Amir Sufi, Pakistan Development Review, Vol. 52, No. 3, 2013.
• Review of The Road to Serfdom by Friedrich A. von Hayek, Journal of Islamic Business and Management, Vol. 3, No. 1, 2013. [full text]
• Editor’s Introduction, International Econometric Review, Vol. 2, No. 1, April 2010.
• Editor’s Introduction, International Econometric Review, Vol. 1, No. 1, April 2009.
• “In Memoriam: David Freedman (5 March 1938 – 17 October 2008),” International Econometric Review, Vol. 1, No. 1, April 2009.
• Comments on “Contributions of the Last Six Conferences” by Munawar Iqbal, Proceedings of the 7th International Conference in Islamic Economics, 2008, pp. 109–114.
• Comments on “Obstacles to Research in Islamic Economics” by M. Nejatullah Siddiqui, Proceedings of the 7th International Conference in Islamic Economics, 2008, pp. 15–18.
• Comments on “The Mahbub ul Haq Memorial Lecture: Social Capital and Economic Development — Lessons from Pierre Bourdieu” by Ali Khan, Pakistan Development Review, Vol. 44, No. 4, Winter 2005, pp. 390–396.
• Comments on “The Mahbub ul Haq Memorial Lecture: On Hayek’s Road to Serfdom, Sixty Years Later” by Ali Khan, 20th Annual General Meeting of the Pakistan Society of Development Economists, Islamabad, 10–12 January 2005.
• Comments on “The Supply and Demand for Exports of Pakistan: The Polynomial Distributed Lag Model (PDL) Approach” by Zeshan Atique and Mohsin Hasnain Ahmed, Pakistan Development Review, Vol. 42, No. 4, Winter 2003.
• Comments on “Population Pressure, Savings, Investment and Growth in the Islamic World: Some Empirical Evidence” by Hossein Pirasteh and Farzad Karimi, Proceedings of the 5th International Conference on Islamic Economics and Finance, Bahrain, 21–23 April 2003.
• Comments on “Testing Semi-strong Form Efficiency of Stock Market” by Salman Syed Ali and Khalid Mustafa, Pakistan Development Review, Vol. 40, No. 4, Winter 2001, pp. 672–674.
• Review of The Future of Economics: An Islamic Perspective by M. Umer Chapra, Islamic Studies, Vol. 40, No. 1, Spring 2001.
• Review of Islam, Poverty, and Income Distribution by Ziauddin Ahmed, Journal of Islamic Studies, Oxford University Press, January 1993.

Last updated September 2026.