The United States is famous in the rest of the world for being a ‘melting pot’ of different cultures, ethnicities and regions of origin. But it would be hasty to conclude that this ethno-cultural collage took shape through a smooth process. Looking back at the two and half century old history of the country, one…
How is ‘genre’ questioned in ‘If On A Winter’s Night A Traveler’ by Italo Calvino?
One of the hallmarks of good literature is its incompatibility with any of the recognized genres. In pulp fiction, commonly identified genres are horror, romance, mystery, adventure, etc. But these genres do not qualify for serious literary discourse. Being one of the pre-eminent writers of the twentieth century, Italo Calvino’s works generally defy being classified…
Why Americans should embrace Alternative fuel vehicles?
Energy sources alternative to fossil-produced oil have been talked about for many years now. Yet no meaningful transformation to these energy sources have been practically implemented so far. Transportation industry, with its assortment of different oil-guzzling vehicles, is the chief culprit in this regard. If this trend is to continue in the future, then very…
Frequently Asked Questions on Islamic Banking
1. THE HOLY QUR’ANHAS PROHIBITED RIBA. WHAT IS MEANT BY THIS TERM? The term Riba can be loosely translated into the financial concept of ‘interest’. As per Shariah law and Islamic scriptures, the practice of giving or taking interest upon principal is prohibited. In financial transactions a few types of Riba could arise, namely, riba…
How successful were the Articles of Confederation in defining Democracy in the USA?
The Articles of Confederation was the document that served as the precursor to the official constitution of the United States. The former was ratified in 1781, the latter was signed and accepted in 1789. The leaders of revolutionary America felt the need for unity among different states and the necessity to define the “relative powers…
American Imperialism in the Nineteenth Century
In political science studies, it is not often that one reads of American Imperialism. The term imperialism is almost exclusively associated with colonial exploits of major European powers such as Britain, France and Germany in the West; and China and Japan in the East. Although a late joiner of the imperial club, the United States…
Why is constitutional engineering crucial but difficult for the former communist countries?
When communism was imposed as the incontestable political doctrine at the culmination of the Second World War, many Eastern European nations set upon a new chapter in their respective histories. During the forty odd years as part of the Soviet Union a degree of economic, political and constitutional homogeneity was brought into this region, which…
Islamic Banking: Sukuk and Screening of Stocks
The article titled Sukuk and their Contemporary Applications by Muhammad Taqi Usmani is a report of issues in relation to the “compliance of Sukuk with the precepts of the Shariah.” Sukuk, which can loosely be translated as ‘financial certificates’ in common economic parlance, is a crucial instrument in Islamic banking procedures. The precepts of Shariah…
Guiding Principles on Governance for Islamic Collective Investment Schemes
As Islam established itself as an important religion with substantial following across the world, its religious leaders developed a financial system that is consistent with principles laid out in the Holy Koran and other sacred texts. The Islamic Financial Services Board (IFSB) is an important organization which is constantly refining and improving the guidelines for…
Do workers no longer need a trade union as management takes care of their needs and views?
Modern management theory and practice pay scant attention to the value or relevance of trade unions. It is believed by modern managers that the Human Resource Management department is sufficiently equipped to address employee concerns and grievances that no other form of representation is needed. But empirical evidence does not support this assertion. If anything,…