integrating money in capital theory Toutounchian, Iraj 1941- creator text bibliography nju Singapore Hoboken, NJ Wiley & Sons (Asia) Wiley 2009 monographic eng

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xxv, 384 p. : ill. ; 24 cm. 1. An Evaluation of Money: A New Perspective -- Commodity Money -- Metallic Money -- Dinar and Dirham (D-D) -- What is (Paper) Money? -- An Impure Public Good -- Quantity Theory of Money and a Country's Balance Sheet -- Functions of Money in an Islamic Setting -- The General Theory as Monetary Theory -- Cooperation in Islam -- A Just Voting System -- Islamic Foundation of Norms for Cooperation -- Equivalence between Functions of and Demand for Money -- 2. Interest on Money and Its Scope -- A Brief History of Interest -- The Place of Interest in Capitalist Economics -- The Place of Labor -- Western Justifications for Interest -- Time Preference and its Relation to the Rate of Interest -- Is Time Preference Positive in all Circumstances? -- Some Further Thoughts on Interest -- Exchange Cost, Seigniorage and Inflation -- The Socially Optimal Provision of Money in the Capitalist System -- Interest (Riba) in Islam -- 3. A legal Perspective on Islamic Finance -- Capital Theory: A Brief Recapitulation -- The Legalities of Money and Capital -- Money and Capital Reconsidered -- Supply of Money Unidentified -- Extended Model -- Implications of the Model -- 4. Interest: Fact and Fiction -- The Place of Man in the Economic System -- The Evils of Interest -- 5. Islamic Banking versus Conventional Banking -- The Structure and Functions of Banking -- Underlying Conditions For Success in Islamic Finance -- The Philosophical Foundations of the Place and the Ultimate Goal of Man -- Islamic Modes of Finance -- Islamic Bank Structure -- Islamic Contracts -- New Products -- 6. The Role of Conventional and Islamic Banks in Investment: Certainty and Risk Conditions -- Introduction -- Investment in a Capitalist Economy -- Investment Expenditure: A Function of Interest Rate? -- Investment in an Islamic Economy -- Portfolio Management for Households -- 7. The Role of Central Banks in Islamic Banking -- Revising Roles: Learning from Experience -- Revisions (Beyond Amendments) -- The Role of the Central Bank in Islamic Banking -- Assertions -- Classification of Islamic Modes of Contract -- Application of IRR and Zero Cost of Capital -- The Transmission Mechanism for Creating Money. Iraj Toutounchian. Includes bibliographical references (p. 351-367) and index. a------ f------ Money Religious aspects Islam Money Islamic countries Banks and banking Religious aspects Islam Banks and banking Islamic countries HG3368.A6 T68 2009 332.1 TOI 9780470823194 (hbk.) 0470823194 (hbk.) UKM 090225 20160516152907.0 7293999