Islamic Economics, What Is It?

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The world would just be this buzzing chaotic place if we weren't able to sift out of the noise, some patterns. So patterns are real. Just the question is signal detection problem, right? Which of the real patterns, which are not? You can make the type one error. You think the pattern is real when it's not, or you can make a type two error with the pattern is not real and you think it is, right? Yeah. The type three error is where you have the right answer basically, but you're looking at the wrong problem itself. And so, yeah, you know, so there you can have a situation where you are using the wrong sample size

Shermer and Ali discuss: • the search for structure in nature • order and randomness • economic laws • natural laws • natural orders: molecular, quantum, crystals, carbonic, nuclear, magnetic • hydrological, organismic, Gaia and Medea • reductionism and holism • Islamic economics • the origin of wealth • Is there an optimal economic order? • how mining rights work in the U.S. and elsewhere • the voter’s paradox • Pareto optimality and why we can’t achieve it • resource nationalism • the resource curse • why India and Pakistan have not used their nukes on each other • social orders • population and sustainability: neo-Malthusianism • How many people can the Earth hold? • why we need nuclear power for sustainability • internationalism and globalism • Trekonomics.

Saleem H. Ali was born in New Bedford, Massachusetts but grew up in Lahore, Pakistan until his college years, receiving his Bachelor’s degree in Chemistry from Tufts University, and his Masters and Ph.D. degrees in environmental policy and planning at Yale and MIT, respectively. He currently holds the Blue and Gold Distinguished Professorship in Geography and Spatial Sciences at the University of Delaware and is Honorary Professor at the University of Queensland (Australia). Dr. Ali’s laurels include being a National Geographic Explorer (having travelled for research to over 150 countries); being chosen as a Young Global Leader by the World Economic Forum and serving on the seven-member science panel of the Global Environment Facility (the world’s largest multilateral trust fund for the environment held in trusteeship by the World Bank). His earlier books include Treasures of the Earth: Need Greed and a Sustainable Future. He is a Fellow of the Royal Society of Arts and the Royal Geographical Society in the United Kingdom and also serves on the boards of Adventure Scientists and Mediators Beyond Borders International. Along with his wife Maria and sons Shahmir and Shahroze, the family are citizens of Australia, Pakistan and the United States.