C onsidering the normative nature of the theories of justice, a distinguished theory of justice could be formulated based on the fundamental teachings of Islam. Hence a new set of indexes are required to put this new concept to test. Through detailed study of the Islamic teachings, the research seeks to formulate a comprehensive theory on economic justice (based on various economic rights). In ...

Although there are many theories and discussion of leadership, the necessity of having a new leadership paradigm was emphasized. The existing leadership characteristic of instruction and control revealed its limitations. Market competition becomes fierce and economic recession never ends worldwide. Of the leadership theories, servant leadership was introduced recently and is in line with the en...

This study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in that country. Contrary to some established theories, this study has found evidence that the level of entrepreneurship in a given country is not explained by the levels of the traditional causes of economic growth in that country (specifically the amounts...

We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs (Coase, 1937, and subsequent literature) is difficult to relate to these well-established dynamics. Our approach focuses on changing incentiv...

We propose an epistemic theory of micro-economic interactions, termed Economic Harmony. In the theory, we modify the standard utility, by changing its argument from the player’s actual payoff, to the ratio between the player’s actual payoff and his or her aspired payoff. We show that the aforementioned minor epistemic modification of the concept of utility is quite powerful in generating plausi...

Economic theory today is characterized by high development, current changes that contain the main attitudes, technologies, firms — their economic interests, general psychological actions on government steps of influence.

We have first demonstrated that Debreu’s view regarding the publication of The Theory of Games and Economic Behavior by von Neumann and Morgenstern in 1944 as the birth of modern mathematical economics is not convincing. In this paper, we have proposed the hypothesis that the coordinated research programs in the 1930’s, initiated by the Econometric Society and the Cowles Commission for Research...