One of the major society’s problems is unequal distribution of wealth and resources. Because of improper distribution of resources, parts of the world are pouring their excess potato in Mississippi, while other parts of the world are starving to death. How to correct this improper distribution? Well, different economic systems provided the answer differently. Capitalism solved this problem by resting its trust on consumer’s preference/demand. They said, demand will dictate the allocation of resources. Socialism takes hold of centrally planned economy where all the resource allocation is done through central direction. Islamic economics deals this issue of resource allocation with mixed tool of consumer’s preference and central planning. However, as the world is largely dominated by capitalism, our question is, can the consumer really change the market? Can they really direct the allocation of resources? (more…)
Archive for the ‘Business’ Category
Can the consumer really change the market?
Thursday, January 28th, 2010Price hike: Ethics as a controlling mechanism
Friday, January 8th, 2010Writer : Monir Ibn Hafiz
Price hike is a common phenomenon in Bangladesh. In Ramadan it becomes worse than the rest of the times of the year. Nowadays, life is becoming much worse day by day because of the high prices of essentials where most of the people earn a fixed income. People face a serious problem in balancing all spheres of their life as they are to spend more amount of money on essentials. The sufferings of the low wage-earners are beyond description. (more…)
Emerging Business Sectors of Bangladesh
Tuesday, March 17th, 2009
Just after 1971, the liberation war, Henry Kissinger commented Bangladesh, a “Bottomless basket”. In 2003, United Nation termed Bangladesh as a LDC (Least Developed Country). The World Bank called us “the Bangladesh paradox”. So what is actually happening in the country? What is the condition of Bangladeshi economy? Is there any hope left? (more…)