2008 Financial Crisis and Islamic Finance: An Unrealized Opportunity

The Islamic finance industry is relatively new and vibrant. It is becoming a mainstream industry in the MENA (Middle East and North Africa). The industry is based on a number of Sharia’a maxims and in particular the prohibition of Riba. Islamic law scholars’ emphasis on the ethical dimension of this industry and how it can be seen as a solution to existing capitalism. The current financial crisis presented this industry with an unprecedented test and an opportunity to influence and merge into main stream finance. This paper presents an evaluation of Islamic finance industry in the current financial crisis and whether the governance and ethical foundation of Islamic finance institutions distinguished itself from conventional finance. Thus, this paper begins with an overview of Islamic finance, then it discusses the governance framework structure of Islamic finance institutions and the role of its organs. In addition, this paper will compare between the ethical framework of the Islamic finance institutions and the conventional institutions. Finally, this paper will discover the ethical failure of the current global financial system and its relation with the current financial crisis.     

Legal Subjectivity and the ‘Right to be Forgotten’: A Rancièrean Analysis of <Emphasis Type="Italic">Google</Emphasis>

This article discusses the right to be forgotten. The landmark Google ruling of the European Court of Justice gave this ambiguous right new weight and raised several urgent questions. This article considers what kind of person is presupposed and constructed when somebody invokes their right to be forgotten. The aim is to engage in an experimental reading of the ruling in the framework of contemporary political theory, namely, the philosophy of Jacques Rancière. The analysis shows that even though the right to be forgotten is a new legal and rhetorical instrument, there are good grounds for being critical of its underlying logic and sceptical of the novelty thereof. The judgment can be understood as a reiteration and consolidation of the same impotent human rights thinking that law often seems forced to contend itself with, no matter how radical our intentions may be.     

Toward a Demographic Understanding of Incarceration Disparities: Race,Ethnicity, and Age Structure

Objectives

Non-Hispanic blacks and Hispanics in the United States are more likely to be incarcerated than non-Hispanic whites. The risk of incarceration also varies with age, and there are striking differences in age distributions across racial/ethnic groups. Guided by these trends, the present study examines the extent to which differences in age structure account for incarceration disparities across racial and ethnic groups.

Methods

We apply two techniques commonly employed in the field of demography, age-standardization and decomposition, to data provided by the Bureau of Justice Statistics and the 2010 decennial census to assess the contribution of age structure to racial and ethnic disparities in incarceration.

Findings

The non-Hispanic black and Hispanic incarceration rates in 2010 would have been 13–20 % lower if these groups had age structures identical to that of the non-Hispanic white population. Moreover, age structure accounts for 20 % of the Hispanic/white disparity and 8 % of the black/white disparity.

Conclusion

The comparison of crude incarceration rates across racial/ethnic groups may not be ideal because these groups boast strikingly different age structures. Since the risk of imprisonment is tied to age, criminologists should consider adjusting for age structure when comparing rates of incarceration across groups.

     

The Recurring Victimization of Individuals with Mental Illness: A Comparison of Trajectories for Two Racial Groups

Objective

This study explores whether the trajectories of recurring victimization of Black persons diagnosed with major mental illnesses vary from the trajectories of their White counterparts. Further, the study examines whether the risk factors for recurring victimization among persons with major mental illness vary by race.

Methods

Using data from the MacArthur Violence Risk Assessment Study (MacRisk), two separate hierarchical binomial regression models were estimated to compare the recurring victimization trajectories of Black and White MacRisk participants. Cross-level interaction terms were also estimated to determine if the coefficients for each of the time-varying covariates included in the analyses were significantly different across race.

Results

The findings indicate that the trajectories of recurring victimization for Black persons with serious mental illness are significantly different from those of White persons with serious mental illness. Specifically, Black persons’ trajectories remain relatively stable over time, while the risk of recurring victimization declines for Whites as time since release from the hospital increases. Further, the effects of alcohol abuse on revictimization risk vary by race.

Conclusion

The findings suggest that the life experiences of Black persons with mental illness may be different from their White counterparts, which is likely to contribute to distinct patterns of recurring victimization over time. Future research should continue to explore recurring victimization among diverse samples to identify potential sources of the variation in revictimization trajectories across race.

     

Identifying Classes of Explanations for Crime Drop: Period and Cohort Effects for New York State

Objective

This paper advances current understanding of the contemporary crime drop by focusing on the changes in the age distribution of arrests from 1990 to 2010. Using the New York State Computerized Criminal History (CCH) file, which tracks every arrest in the state, we apply standard demographic methods to examine age-specific arrest rates over time. We test whether the 25 % drop in the felony arrest rate can be best explained by period or cohort effects with special attention to how the phenomenon varies across crime types and regions within the state.

Methods

Following the analytic approach of O’Brien and Stockard (J Quant Criminol 25(1):79–101, 2009), we fit the age–period–cohort (APC) model using the generalized inverse matrix, which creates an estimable model. We partition the model variation into each factor by subtracting the variation of the two-factor model from the variation of the three-factor model to provide a direct comparison of the two different classes of explanations for crime drop: period and cohort.

Results

Our analysis supports a cohort explanation over a period explanation. Controlling for the (substantial) variation due to age, the cohort effect accounts for twice as much of the remaining variation as the period effect. Specifically, the drop in arrest rates is concentrated in more recent birth cohorts across all ages. Although we found statistically significant age–period interaction effects for the younger age group (ages 16–20) in 1990 and 1995, the cohort effect was still a much stronger predictor of felony arrest rates than the period explanation, even with the age–period interaction.

Conclusions

The current study reports that the overall drop in felony arrest rates from 1990 to 2010 is mostly due to decreased arrests among those who were born after 1970 rather than a universal drop across different age groups. We discuss but do not test two potential explanations—the legalization of abortion and the ban on leaded gasoline—for the underlying factors associated with a different criminal propensity among birth cohorts.

     

Mediating Effects of Existential and Religious Well-Being Among Abused,Suicidal African American Women

Intimate partner violence (IPV), an international public health matter, is linked to psychological distress including suicidal behavior. Despite the noted sequelae associated with IPV, many individuals display resilience in the face of IPV exposure. This study examines two potential protective factors in the IPV-suicidal ideation link, namely existential and religious well-being, in a sample of African American women. Low-income, African American, female suicide attempters who were abused by a partner within the previous year (N?=?111) were administered the Conflicts Tactics Scale-2, Spiritual Well-Being Scale, and Beck Scale for Suicide Ideation. Mediational models testing indirect effects through the bootstrapping method revealed that the total effect of IPV on suicidal ideation was positive and significant, confirming suicidal ideation as a consequential outcome of IPV among African American women. This effect was mediated by existential well-being; however, religious well-being was not a significant mediator, suggesting that existential well-being serves a unique protective role in the IPV-suicidal ideation relation. The results provide additional support for the well-known positive effects of existential well-being on mental health among African American samples. Culturally-informed, meaning-making interventions to enhance existential well-being appear to be effective in reducing suicidal ideation in this population.     

Intimate Partner Violence Involving Children and the Parenting Role: Associations with Maternal Outcomes

The aim of the present study was to investigate intimate partner violence (IPV) involving children and the parenting role (e.g., preventing an intimate partner from providing parental care or threatening to take one’s children away). Specifically, the study examined whether this form of IPV affects maternal functioning above and beyond other IPV experiences. Participants included a community sample of 120 primarily low-income, single women, diverse in age, education, and ethnicity, who were interviewed 1 year after giving birth, as part of a longitudinal study. IPV involving children and the parenting role was significantly associated with other experiences of IPV, especially general psychological IPV. Multiple regression analyses revealed that this form of IPV significantly affected mothers’ personal, relational, and parental functioning. Results suggest that it is important to assess for IPV involving children and the parenting role when working with mothers. More research on this unique type of IPV is needed.     

Resilience Factors Among Police Investigators: Hardiness-commitment a Unique Contributor

The aim of this study was to explore the role of individual and contextual buffers against the effects of work stress among police investigators. 156 Norwegian police investigators were assessed on the predictor variables psychological hardiness, work engagement, social support, and meaningfulness, and on the outcome variables of burnout, subjective health complaints, and self-reported sick leave. Hierarchical regression analysis showed that psychological hardiness predicted the variance in burnout beyond that of work engagement, social support, and meaningfulness. When the investigators were divided into two groups based on their field, investigators of assault crime showed higher scores than the group consisting of forensics and investigators of fire, financial, and environmental crime on the variables psychological hardiness, social support, meaningfulness, and subjective health complaints. No differences between the groups were found on burnout, sickness absence, and work engagement. The findings show the importance of resilience factors for coping with work stress, with the commitment dimension of hardiness being particularly important.