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Economic and security consequences of supreme values
Authors:Arye L. Hillman
Affiliation:1. Department of Economics, Bar-Ilan University, Ramat Gan, 52900, Israel
2. BESA Center for Strategic Studies, Bar-Ilan University, Ramat Gan, 52900, Israel
3. Centre for Economic Policy Studies, London, UK
4. CESifo, Munich, Germany
Abstract:Islamic societies have in contemporary times lagged Western societies in income, growth, and human-development indicators. The supreme values of radical Islam further de-prioritize economic achievement and impose self-deprivation on own populations. This paper investigates the reasons for economic outcomes under Islam. Contemporary illustrations are also provided of the self-deprivation predicted from pursuit of the supreme-value objectives of radical Islam. The self-deprivation is placed in a rent-seeking context.
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