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This book examines the role of creative mental labor in determining long-term economic growth, production costs, and product pricing. By redefining theories of value-price and growth in relation to creative mental labor, it acknowledges the role of human talent and skill in the creation of new technologies, productions, and productions methods, and highlights the impact this has on supply and demand dynamics. Traditional and neoclassical notions of human capital are challenged to present a new theory of growth that is more aligned with real life economics.This book reevaluates ideas of economic growth by contextualising technological advancement and sustainable long-term economic growth within ideas of creative mental labor and skilled mental labor. It will be of interest to students and researchers working on labour economics.
Mainstream economic theories/models which are dominant today only are successful in explaining "a fictional world" and "fictional economic relationships" which are largely based upon unrealistic assumptions. It is high time to produce "new and alternative" theories and models to replace the "parables" of these mainstream ideologies.
The Islamic economic paradigm with its scientific Islamic economic theories have to be comprehensive as well as perfect in the sense of fairness, ethical values and fruitfulness. But are there universal Islamic economic systems with universally applicable economic laws acceptable by both, the Muslim and the non-Muslim world?
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