Why Freshonomics?
Freshonomics is about opening our minds to new possibilities for the future and get us smarter about the current system.
How will freshonomics help you achieve this?
Firstly, the site will explore how Islam offers alternative approach to economics. Islam offers a fresh approach to the prevailing Capitalist system or the defunct Communist system. It doesn't have a left wing or right wing approach. Instead, it looks at things in a more policy oriented way. Take for example how mineral and oil wealth are handled. It is neither privately owned or stated owned. Instead it is commonly owned, which means the government must use its proceeds for projects that better the entire community, through roads, hospitals, universities, etc. This is one example but gives an idea of how Islam has a unique approach to economics.
Secondly, while exploring Islamic economic policies we will contrast them to Capitalist policies, to show the gaps in the current system. Capitalism is often understood to be natural like it's air. That's not so. Rather, its a system that emerged from thinkers in Europe who wanted to build a system according what they thought was natural. Consequently, there are a lot of holes in how it works and we should understand their implications on us and humanity as whole. For example, interest-bearing debt is crushing the developing world, which makes it hard for their nation to get out of the poverty trap.
Thanks for taking the time!
Malik
“There was once a civilization that was the greatest in the world. It was able to create a continental super-state that stretched from ocean to ocean, and from northern climes to tropics and deserts. Within its dominion lived hundreds of millions of people, of different creeds and ethnic origins...its military protection allowed a degree of peace and prosperity that had never been known. The reach of this civilization’s commerce extended from Latin America to China, and everywhere in between. ..While modern Western civilization shares many of these traits, the civilization I’m talking about was the Islamic world from the year 800 to 1600, which included the Ottoman Empire and the courts of Baghdad, Damascus and Cairo, and enlightened rulers like Suleiman the Magnificent.”