The following description was written by Simon Webley, of the British-North American Research Association, who also worked on the text itself. INTRODUCTION A series of Interfaith consultations began in 1984 under the patronage of HRH Prince Philip, the Duke of Edinburgh, and HRH Crown Prince Hassan Bin Talal of Jordan. Followers of the three monotheistic faiths Christianity, […]

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I spent some time during the summer of 2015 traveling through Eastern Europe. It has changed dramatically since 1991, the year in which the Sowjet Union dissolved and the Warsaw Pact ended. Former Czechoslovakia became two countries, and former Yugoslavia fragmented in 1991/1992 into six states (Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Croatia, and Slovenia). This led to several wars in […]

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The 1844 Economic and Philosophical Manuscripts remained unpublished during Marx’s lifetime and did not surface until 1927, about 44 years after his death. These manuscripts illustrate the young Marx’s transition from philosophy to political economy. Marx’s emerging interest in the economy is apparent – an interest that distinguishes him from other followers of Hegel – but his […]

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The market mechanism, taught to millions of business and economics students, is not a simple model. Even though it has been studied extensively, the political discussion about the role and applicability of markets often seems confused. A deep fact/value problem distorts the debates about markets and democracy as the cornerstones of Western societies. Is the market mechanism a […]

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It seems to be fairly simple, but it raises many questions. To start with: Did Adam Smith describe a law of economics akin to a natural law, or is the market mechanism only a model or idealization that describes an optimal way to produce and distribute goods and services? When economists refer to price in […]

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It’s interesting to look at some long-term world trends at the end of 2013. The graphs appear more normalized, for instance with the population growth rate above. Countries like Nigeria (see population chart below) are unfortunate exceptions. How will the world really look like in 2050? Trends are extrapolations from current and past data, enhanced […]

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The Social Responsibility of Business is to Increase its Profits Article by Milton Friedman (Quoted from: The New York Times Magazine, September 13, 1970.) When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system,” I am reminded of the wonderful line about the Frenchman who discovered at the age of […]

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