The Economy of Certainty


Book Description

Aron Zysow's 1984 Ph.D. dissertation, "The Economy of Certainty," remains the most important, compelling, and intellectually ambitious treatment of Islamic legal theory (usul al-fiqh) in Western scholarship to date. It continues to be widely read and cited, and remains unsurpassed in its incisive analysis of the most fundamental assumptions of Islamic legal thought. Zysow argues that the great dividing line in Islamic legal thought is between those legal theories that require certainty in every detail of the law and those that will admit probability. The latter were historically dominant and include the leading legal schools that have survived to our own day. Zahirism and, for much of its history, Twelver Shi'ism, are examples of the former. The well-known dispute regarding the legitimacy of juridical analogy is only one feature of this fundamental epistemological division, since probability can enter the law in the process of authenticating prophetic traditions and in the interpretation of the revealed texts, as well as through analogy. The notion of consensus in Islamic legal theory functioned to reintroduce some measure of certainty into the law by identifying one of the competing probable solutions as correct. Consequently consensus has only a reduced role, if any, in those systems that reject probability. Another, more radical, means of regaining certainty was the doctrine that regarded the legal reasoning of all qualified jurists on matters of probability as infallible. The development of legal theories of both types, that of Zahirism no less than that of Hanafism, was to a large extent shaped by theology and, most significantly, by Mu'tazilism, and subsequently by Ash'arism and Maturidism. Zysow's important work is published here in full, for the first time, with updated references and some further reflections by the author.




The Limits to Certainty


Book Description

Analyses the emergence of a "service economy" and considers the economic challenges such an economy presents. Proposes a theoretical frame of reference based on the notions of risk and uncertainty. Covers trends from 1980 to 1992 and gives projections up to 2030.




The Limits to Certainty


Book Description




The Age of Surveillance Capitalism


Book Description

The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called "surveillance capitalism," and the quest by powerful corporations to predict and control our behavior. In this masterwork of original thinking and research, Shoshana Zuboff provides startling insights into the phenomenon that she has named surveillance capitalism. The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth. Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification." The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit -- at the expense of democracy, freedom, and our human future. With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future -- if we let it.




What’s Wrong with Economics?


Book Description

A passionate and informed critique of mainstream economics from one of the leading economic thinkers of our time This insightful book looks at how mainstream economics’ quest for scientific certainty has led to a narrowing of vision and a convergence on an orthodoxy that is unhealthy for the field, not to mention the societies which base policy decisions on the advice of flawed economic models. Noted economic thinker Robert Skidelsky explains the circumstances that have brought about this constriction and proposes an approach to economics which includes philosophy, history, sociology, and politics. Skidelsky’s clearly written and compelling critique takes aim at the way that economics is taught in today’s universities, where a focus on modelling leaves students ill-equipped to grapple with what is important and true about human life. He argues for a return to the ideal set out by John Maynard Keynes that the economist must be a “mathematician, historian, statesman, [and] philosopher” in equal measure.




Risk, Uncertainty and Profit


Book Description

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.




Whither Socialism?


Book Description

The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.




ChangeWave Investing 2.0


Book Description

Investment guru Tobin Smith reveals his secrets for scoring monster returns in today’s volatile stock market by focusing on the emerging sectors that have the best potential for explosive growth — what Smith refers to as ChangeWaves. ChangeWave Investing 2.0 presents a radically improved method for picking the next monster stocks while protecting current profits. Using the ChangeWave principles, the book explains: ·how to identify the stocks with the fastest growth potential before Wall Street does ·how to screen out the pretenders ·how to balance a portfolio between aggressive growth stocks and stocks with lower volatility ·how to use stop orders to limit losses from economic downturns ·how to invest limited resources for maximum returns You’ll discover how to buy and sell in the midst of a seesaw, as well as receive savvy advice on the ways you can benefit from market meltdowns by systematically taking out positions at bargain basement prices. From the rocketlike success of his first book, ChangeWave Investing, which hit the top of the business bestseller lists, to his role as contributing editor on Fox’s “Bulls and Bears,” to the rapid growth of the electronic network, Tobin Smith has broken onto the investment community with the momentum of a tsunami. Now, with ChangeWave Investing 2.0, readers can learn the strategies and techniques that will allow them to profit from the transformational change the economy is undergoing even in today’s bear market.




The End of Certainty


Book Description

Nobel Laureate Ilya Prigogine discusses the irreversibility of time and his findings impact on the laws of physics.




State of the Economy


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