Cizakca, Murat (2010): The case against the Islamic gold dinar.
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The claims that the Islamic gold dinar will avoid inflation and other ills of current economic crises are examined by studying how coinage systems actually functioned in history.The article shows that not only these claims are baseless but also that coinage would increase the prevailing interest rate in an economy - hardly an Islamic position. It is argued that a gold or silver based dinar would be harmful for Islamic societies and attempts to introduce them should therefore be prohibited.
|Item Type:||MPRA Paper|
|Original Title:||The case against the Islamic gold dinar|
|English Title:||The case against the Islamic gold dinar|
|Keywords:||Islamic gold dinar, interest rate, Gresham's Law, barter, commodity money, money as a medium of exchange, fiat money|
|Subjects:||Z - Other Special Topics > Z1 - Cultural Economics; Economic Sociology; Economic Anthropology > Z12 - Religion
O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East
|Depositing User:||Murat Cizakca|
|Date Deposited:||12. Nov 2010 08:59|
|Last Modified:||12. Feb 2013 23:42|
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