Thursday, April 10, 2014

Epilogue to the article about economic development of Islamic countries (5)

As for the author, undertaking such activity may require an intangible sense of business confidence as well as individuals with business acumen.
Governments may see it as their duty to directly participate in such investment themselves or otherwise encourage private investment.
An effective financial market is necessary to facilitate it.
Accumulating income-generating capital is something like growing a garden – it needs planting and careful nourishment and maintenance for it to flourish.
Does Islamic society provide a hospitable environment, or a desert, for the cultivation of this essential factor of production?
The third factor of production is human resources.
This is not just a matter of population.
People need to be educated and trained in order to make use of the physical capital, as well as maintain society in a situation of security and fulfillment.
Education is a form of investment in "human capital".

This requires not just technical training but a full range of education serving the enlightenment, service and entertainment of society.

No comments:

Post a Comment