slideshow

Democracy in Capitalist Societies is Questionable

Posted on 27th July 2012 by Camille Paldi,

Dubai Nights

 

“The most important feature of capitalism is interest.  It essentially manifests in (interest-based) loans.  Loans of this sort are founded on self-interest, which excludes the lender from the outcome of the way they are used.  This means that the borrowers – mainly firms – take responsibility for the outcome of their business.  In most cases, they have the power to pass the interest burden on to consumers in the form of higher prices.  In fact, the interest cost is part of the costs of production.  The individualistic nature of such contracts is itself the underlying assumption of capitalism.  The share stock is not a loan but a ‘cut’ in the ownership of a firm, in the form of a fraction of the ownership of means of production.  (Wilken 192:36)  Unlike loans, the financial essence of shares is that it need not be paid back.  Thus, the majority share (equity) capital controls the firm.  In some circumstances, less than half of the shareholders may, in practice, be sufficient to control the firm.  This has far-reaching consequences and provides the basis for the concentration of capital into a few hands.  Economic power, in turn, reaches a point where it exerts significant impact in political matters.  Under such conditions, democracy and the democratic society become questionable.” – Iraj Toutounchian  


Posted on 27th July 2012 by Camille Paldi


Comment on this post







Twitter

    • 29th July @camille paldi
    • The Business Daily https://t.co/JRGAOjYbto
    • 29th July @camille paldi
    • Read The Business Daily https://t.co/745DjhbRPW
    • 29th July @camille paldi
    • The Business Daily by FAAIF is out! https://t.co/KLKTQTJd9m
    • 29th July @camille paldi
    • The Inter-faith Daily https://t.co/12NWXOB1Bx
    • 29th July @camille paldi
    • Read The Inter-faith Daily https://t.co/HKRWPBjl4K
    • 29th July @camille paldi
    • The Inter-faith Daily is out! https://t.co/jwpsLi595x
    • 29th July @camille paldi
    • The Islamic Finance Daily https://t.co/eeb86ZsVqe
    • 29th July @camille paldi
    • Read The Islamic Finance Daily https://t.co/vTDu2qcDZz
    • 29th July @camille paldi
    • The Islamic Finance Daily is out! https://t.co/8MSV83u0q4
    • 29th July @camille paldi
    • The Halal Daily https://t.co/B3yEzpVua5
    • 29th July @camille paldi
    • Read The Halal Daily https://t.co/JxHKqFmuz5
    • 29th July @camille paldi
    • The Halal Daily is out! https://t.co/5KuU21ZHI3
    • 28th July @camille paldi
    • Camille Paldi (FAAIF) Rolls Through Jakarta https://t.co/e6KGPa0p6J
    • 28th July @camille paldi
    • The Halal Daily https://t.co/B3yEzpDTix
    • 28th July @camille paldi
    • Read The Halal Daily https://t.co/JxHKqFmuz5
    • 28th July @camille paldi
    • The Islamic Finance Daily https://t.co/eeb86ZKwOO
    • 28th July @camille paldi
    • Read The Islamic Finance Daily https://t.co/vTDu2qcDZz
    • 28th July @camille paldi
    • The Business Daily https://t.co/JRGAOjYbto
    • 28th July @camille paldi
    • Read The Business Daily https://t.co/745DjhbRPW
    • 28th July @camille paldi
    • The Business Daily by FAAIF is out! https://t.co/745DjgUgYo

Articles

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

 

Camille Paldi, CEO of the Franco-American Alliance for Islamic Finance (FAAIF), participated in the 2016 International Congress on...

Posted on 13th July 2016 by Camille Paldi

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

 

Camille Paldi, CEO of FAAIF or the Franco-American Alliance for Islamic Finance, discussed the modes of Islamic finance plus sukuk, taka...

Posted on 13th July 2016 by Camille Paldi

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

 Posted on 1st July 2016 by Noureddine Krichene and Camille Paldi

Book Review for Asset Based Financing by Dr. Muhammad Hanif

Book Review for Asset Based Financing by Dr. Muhammad Hanif

Book Review for Asset Based Financing by Dr. Muhammad Hanif

 

Camille Paldi

Video

Find all our videos here, and also a link to our YouTube video channel so you can view our 'video of the week'

Submit

We would like you to get involved with our site. So if you want to submit Articles, Videos, Events and Call for Papers, please click the button below:

Submit

Valid XHTML 1.1 |  Valid CSS |  Web Design in Durham and Newcastle |  Copyright © 2016

* Prices are converted at USD$0.2723 per AED 1