Latest Event Updates

Talk by Tarek El Diwany: “An Islamic Paradigm in Banking and Finance”

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islamicfinanceKey speaker: Tarek El Diwany, senior advisor at Zest Advisory LLP

Discussant: Dr. Ajit Singh

Date and time: 12th of February 2013 11:30-1:00 p.m.

Location: Lecture Room 9, Mill Lane Lecture Theatre

For almost 1300 years, Muslim societies across the world adopted an economic model in which commercial banking and the charging of interest was absent. A commodity money system prevailed in place of fiat money. Wealth taxes predominated over income taxes, and charitable endowments fulfilled a major portion of the  funding in education, welfare and medical care. How did this model work, what was the legal framework that supported it, and does modern Islamic banking embody it? Tarek El Diwany, a specialist in Islamic finance and long-time campaigner for banking reform, offers some theological and commercial insights.

Dr. Ajit Singh, will briefly discuss his op-ed pieces co-written with Andrew Sheng in 2011 and 2012 on the ‘Internationalisation of Islamic Finance’.

Talk by Gary Dymski: “The Neoclassical Sink and the Heterodox Spiral: Why the Twin Global Crisis has not Transformed Economics”

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Title: The Neoclassical Sink and the Heterodox Spiral: Why the Twin Global Crisis has not Transformed EconomicsKey speaker: Professor Gary Dymski, Professor and Chair in Applied Economics at Leeds Business School, University of Leeds
Date: 20th of November 2012
Time: 16:30 – 18:00
Location: Room 2, Central Lecture Block, Sidgwick Site

A crisis that started as an apparent textbook case of how financial and asset markets can spin out of control without adequate public oversight has transmuted in four years into a crisis of irresponsible sovereigns, such that restoring prosperity only requires restraining government spending, unburdening enterprise, and reining in rent-seeking public employees.

Why has this explanatory reversal occurred? Why has the neoliberal approach to financial governance and macroeconomic policy not been repudiated by an economics mainstream whose collective reputation is clearly at stake amidst the warning signs of a looming global depression? And what does this turn of events mean for the future of heterodox economic theory? This seminar aims to address these important questions.