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The main purpose of this paper is first to discern the overwhelming influence of Kantian thought in the development of mainstream political economic doctrines. In this we will show that the Kantian philosophical influence has introduced an abiding element of duality in all matters of the western liberal theory of social contract and political economy. The nature of Kantian moral philosophy will be shown to have left the study of political economy by and large ethically neutral by treating the role of morals, ethics and values exogenously to the economic system. We will then introduce some substantive elements of an alternative approach to the treatment of ethics and values in the socio‐economic system. We will show that in the alternative approach to the study of social contract theory and political economy the ethical considerations appear as endogenous elements and strongly negate the Kantian principle of duality and individualistic rationalism.

A comparative and critical examination of the methodology, goals and history of development of the field of Western social sciences in Islamic perspectives is presented. Economics is treated as a parallel case study in this respect. It is shown that the field of Western social sciences was the outcome of the revolt against the Church in the eighteenth century by the scholastic school to sever science from religion. Ever since, it has gained momentum also under the Cartesian philosophy of empiricism. Thus, the age‐long advance of the social sciences has shown increasing independence within each of its sub‐disciplines. An inward looking hegemony developed among the various sub‐disciplines. Such developments have made it increasingly difficult for the treatment of ethics and values as integrable elements in social investigation. The essence of a human analysis of social problems is thereby, misunderstood in modern social science analysis. The philosophy, nature and methodology of social investigation in Islamic framework are examined. It is argued that the Western concern with dichotomy between science and religion is not applicable to Islam. Consequently, there is a good possibility for studying social problems by an integrated approach among all the sub‐disciplines of the social sciences. This gives rise to an interdisciplinary study of social issues and problems and the development of a generalised social equilibrium system in the Islamic framework. We have developed one such comprehensive model endowed by its intrinsic Islamic ethics and values emanating fundamentally from the dynamic Quranic essence of the Unity of God in the working of the universe, “Al‐Tawhid”. The key principles and instruments are developed. The central role of the “shura” in functionally endowing the integrated study of social issues, is studied. In this context, the study of Islamic economics as one of Islamic political economy is examined. A specific economic problem in this area is explored. It is concluded that the approach of the Islamic social investigation and of Islamic political economy is what the future generation of social and economic thinkers will be working towards.

In previous efforts the author has examined the various “men” of economics or human‐nature assumptions of “economic thinkers” as a way of treating the history and philosophy of the discipline. Here, under the thematic penumbra of “Man as the Centre of the Social Economy”, and hoping to incorporate the fruits of further inquiry into the matter, those “creatures” and their fashioners are critically reconsidered with a view towards arriving at a more adequate conception of a truly human “economiser” and – accordingly – science of human economy. In Part II, having presented homo oeconomicus in both his/her “impudent” and “honourable” versions, we shall attempt to transcend homo socioeconomicus and even our own (former) homo oeconomicus humanus as well.

The purpose of this paper is to provide an assessment of the contribution of Donald F. Dixon to the study of marketing as an academic subject.

This paper evaluates three of Dixon's working papers to demonstrate two features of his work. First, Dixon's ability to identify critically important topics of enquiry – topics that are of concern to academics but also that reflects issues in the “real” world. Second, the quality of his scholarship which is based upon an extraordinarily wide knowledge and understanding of the social sciences – especially of the economics and the marketing literatures.

In addition to the challenge that the quality of his work makes to the quality of much academic research in marketing, Dixon's papers raise fundamental questions about the purpose of marketing as an academic study and also as an economic activity.

This paper shows how even when his ideas were at an early stage of development Dixon analysis was both insightful and rigorous. In addition, the paper also provides an insight into Dixon's generous personality.

Misbegotten, misnamed, antisocial homo oeconomicus is now contrasted with the more human personae of homo oeconomicus honorabilis, the “open”/ “Semi‐economic Man” of Pantaleoni and Marshall, the still arcane homo oeconomicus humanus of Nitsch and Malina, and (most recently) the positivistic (neo‐) homo socio‐economicus of Etzioni et al., which ‐‐in turn – harks back to Smith′s Theory of 1759‐90. Showing the essential identity of modern economics and Aristotle′s oikonomikē, and recognising the ozone layer as pre‐eminent among once‐free but now very scarce resources (chrēmata ) that have to be utilised efficiently and administered prudently, the author joins forces with Herman Daly et al. in proposing an Aristotelian/Biblical homo oeconomus as a “Good Steward” in the spirit of Frigerio′s L′Economo Prudente (1629) and qualitative improvement over the being who has masqueraded as homo oeconomicus. Uniting this prudent conservator and caretaker of our natural endowment with “Homo Faber, the Subject‐creator of Social Economy” of an earlier work yields the antithesis of the veritable homo oeconomicus impudens of Classical‐Neoclassical infamy.

The affinities of Smith′s invisible hand notion and Hegel′s cunning of reason are examined through a study of all the key locations in which the invisible hand and cunning of reason are introduced. Despite their differences in orientation and philosophy, both writers reach similar conclusions regarding the play of self‐interest and the emergence of the social good. Specifically, each requires a deus ex machina – Providence or Geist – to generate the necessary telosthat supplements their respective logical arguments concerning the concrete play of interest. At the same time, each view provides little to explain how individualism creates the greater social good, so that recourse in each argument to an extra‐social entity obscures the actual functioning of the social order. The common approaches of the two very different thinkers thus reflects on the general requirements and dilemmas of arguments concerning the social good and individual interest.

Through the sixteenth and seventeenth centuries, European science slowly lifted itself out of the fog of Mediaeval scholasticism. A rational, quantified and mechanised world picture emerged. In 1769 an essay questioned why economics benefited so little from the use of mathematics and quantification. Today the opposite may be argued – the increasing loss of relevance of economics is associated with the use of mathematics. Based on Francis Bacon’s criticism of scholasticism, it is argued here that strong parallels exist between the decay of scholasticism and the decay of modern economics. From being a science of practice, late neoclassical economics has degenerated into “working upon itself”, as Bacon says about late scholasticism. Since the 1769 essay, economics has come “full circle”. The problem for economics is not then mathematics per se – mathematics is just one language in which science may decay.

This study examines the impact of regional economic integration (REI) on stock market linkages in the BRICS (Brazil, Russia, India, China and South Africa) economic bloc. In this type of study, the BRICS framework is an appealing empirical case, given its uncommon characteristics. For example, BRICS member states come from remote geographic locations (Africa, Asia, Europe and South America) and have contrasting socioeconomic profiles.

An empirical design is framed from the perspective of bilateral trade between South Africa and BRIC. The author accepts trade intensity as a proxy of regional economic integration and then examines the resulting effect on the stock market co-movement within BRIC. The study applies a two-step econometric procedure of the BEKK-MGARCH and panel data models.

Overall, bilateral trade, as a proxy of economic inwctegration, is associated with an increase in stock market integration. This positive relationship is particularly observed during episodes of surplus trade, and more interestingly, was initiated three years after BRICS’ existence and continues to grow at an increasing rate.

The study outcome should benefit international trade practitioners and global investors interested in portfolio diversification or concerned with risk spillovers.

First, notwithstanding South Africa's significant economic presence in the African continent, to the best of the author’s knowledge, this is the first study to empirically evaluate the BRICS economic integration on their stock market linkages from the perspective of South Africa. The value of this contribution is that further work may investigate the bidirectional spillover impact conveyed by South Africa's trade interactions within the juxtaposition of Africa and BRICS economies. Second, given that research on REI and stock market integration has historically concentrated on mature regional blocs of Europe, Asia, South and North America, the current study advances knowledge while correcting the prevailing literature imbalance.

The aim of this paper is to examine the proposition that the monetary reform movement has correctly identified the central importance of money‐issue whilst, simultaneously, not appreciated the sophistication of previous monetary theorists.

The Classical, Keynesian and Marxian monetary traditions are explored within the context of the views of the monetary reformers, as espoused by Stephen Zarlenga of the American Monetary Institute.

The monetary reform movement has presented a far too simplistic view of previous monetary theorists yet identified an underdeveloped arena for research.

The development of understanding towards a state theory of money.

The paper contributes to theoretical knowledge regarding the political economy of money creation.

The British National Health Service (NHS) has experienced various phases of reform and reorganisation during the last 15 years. During this time it has been suggested that the role of the patient is analogous to that of the consumer. Meanwhile there has been increasing application of the techniques of health economics. This paper examines the rationale for these developments, placing them in wide historial context, and arguing that far from being a passive consumer of pre‐packed healthcare, patients ought to be considered as partners in a continuing process of inquiry, in accordance with John Dewey’s philosophy of instrumentalism. As a result it is argued that the present commodification of healthcare in the UK should be halted, in order to preserve and build on the achievements of the NHS.