The Criticism of Dynamic Economics Values with Emphasis on Movement and Time in Islamic Philosophy

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mojahedi moakhar mohammad mahdi

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Journal: EGHTESAD-E ISLAMI Year:2019 | Volume:19 | Issue:73 Page(s): 31-58

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Title

The Criticism of Dynamic Economics Values with Emphasis on Movement and Time in Islamic Philosophy

Author(s)

mojahedi moakhar mohammad mahdi | Issue Writer Certificate

Keywords

Subjective ValueQ1

Objectives ValueQ1

Accumulation GrowthQ3

Interest RateQ2

MoneyQ2

Abstract

The Economics Values are the result of Economic Human’ s measurement of Society environment. These values are categorized in subjective and objective concepts. Also subjective and Objectives Value could play different roles in dynamic systems. In particular, the discovery of Maximum principle for optimal path can be described as a dynamics objective and Subjective Values. In this regard, dynamic Subjective Values rely on mental variables such as: time preference, liquidity premium, and impatience, rate of marginal utility diminishing and time elasticity of consumption. Dynamic Objective values emphasize on natural root of value, such as: labor value’ s theorem, population growth and in some case implies production function’ s condition like that capital rate of return and in some cases they imply. The collection of these values create dynamic phenomena in economics literature. The phenomena like that intertemporal Interest Rate, interatemporal Interest Rate, wage rate, population growth could be explained. In This paper the concepts of value and its dynamic feature in Islamic philosophy (as a paradigm of Islamic economics thought) has been explained. In this regard, the paper introduces the concept of movement and time (as an ability to move and continuity and gradually actualized) in Islamic philosophy. In another step, the criticizes optimal time path of consumption, saving, capital Accumulation Growth and Money growth path in dynamic control problem by argument and paradigm of Islamic philosophy of time and motion. As a result, the paper concludes that the time variables which do not have subjective roots and do not have the ability of moving and growth in dynamic optimal path. in contrast, the dynamic values which relay on human factor could create economic growth.

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APA: Copy

mojahedi moakhar, mohammad mahdi. (2019). The Criticism of Dynamic Economics Values with Emphasis on Movement and Time in Islamic Philosophy. EGHTESAD-E ISLAMI, 19(73 ), 31-58. SID. https://sid.ir/paper/383501/en

Vancouver: Copy

mojahedi moakhar mohammad mahdi. The Criticism of Dynamic Economics Values with Emphasis on Movement and Time in Islamic Philosophy. EGHTESAD-E ISLAMI[Internet]. 2019;19(73 ):31-58. Available from: https://sid.ir/paper/383501/en

IEEE: Copy

mohammad mahdi mojahedi moakhar, “The Criticism of Dynamic Economics Values with Emphasis on Movement and Time in Islamic Philosophy,” EGHTESAD-E ISLAMI, vol. 19, no. 73 , pp. 31–58, 2019, [Online]. Available: https://sid.ir/paper/383501/en

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