Economics for Democracy in the 21st Century: A Critical Review of Definition

Description: This book critically reviews a century-old controversy on the definition and scope of economics. Nevertheless, the book's main title is ECONOMICS FOR DEMOCRACY IN THE 21ST CENTURY, while this thematic idea has been chosen as its sub-title. Thee decision is strategic. In finalizing the manuscript, the author realizes that the fundamental weakness of modern economics lies in its methodology. The basic market model used to study the economy of an independent state is not in harmony with its political system. This model conceives the economic man as a natural person who is interested only in maximizing his selfishness. This is possible only on an isolated island, not in the political society in which we live. Here, we are all law-abiding citizens who have both rights and obligations. An economy is a default creation of establishing an independent state, meaning the economy cannot be an isolated island. Then, the economy is under the direct control of the government, although the private sector is overwhelmingly in charge of its operation. Therefore, an economy, conceived separate from its political system, is factually false, making its study scientifically weak and politically unacceptable. This book is an exploratory attempt to highlight this methodological weakness to the social scientists and political leadership in particular and urban elite in general. KHANDAKAR QUDRAT-I ELAHI PHD (DOB: 24 November 1953)Dr. Elahi, nicknamed BAHAR, was born at KANDAPARA - a small, poor village in the district Tangail, BANGLADESH. His father Khandakar Abdul Hamid, B.A. - was an educationist and a respected local leader. His mother, Nurunnahar, was an intelligent homemaker.Elahi completed primary and secondary education from local institutions and got admitted to Bangladesh Agricultural University's Agricultural Economics program in 1969. He completed the program's bachelor's and master's degrees with distinction and became a lecturer at the University's Agricultural Finance department in 1979. Next year, he came to the University of Guelph, Canada, with a Canadian Commonwealth Scholarship and returned to his job in 1988 after completing MS and Ph.D. degrees. In 1996, he resigned from his position and immigrated permanently to Canada with his family. In his new national and professional life, he taught at four universities in different countries but did not take teaching as a profession for livelihood.From his student life, Dr. Elahi showed signs of being a socially concerned person. This native knack probably persuaded him to passionately read some of humanity's most original philosophers - Confucious, Plato, Aristotle, Descartes, Bacon, Locke, Rousseau and Hume. In retirement, his passion is to analyse national and international economic and political issues in the light of their teachings.Dr. Elahi is married to Khadiza Jesmin. They share three lovely daughters - Sharmin, Sharlin and Afiza.

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