The author writes that as
if,
the time devoted to daily
religious observances and annual festivals such as Ramadan may detract from
time available for economically productive activities to a greater extent
compared with other religions.
The religion contributes to
an attitude of fatalism and complacency.
Even in countries with oil
wealth, there has been a conspicuous failure to effectively use revenues for
the purpose of industrial development.
As if, the constraints and costs imposed on financial
institutions by the nominal prohibition on interest payments may preclude a
free market in financial capital, causing inefficiency, moral hazard in
banking, and limiting the funds available for investment.
As if, the prohibition on interests serves no beneficial
purpose.
As if, apart from it being banned by the Quran, there is
no reason in modern times for the charging of interest to be considered
immoral.
In ancient times unscrupulous tax collectors may have
forced people to pay exorbitant and unreasonable interest on unpaid taxes.
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