On Bubbles and Sharia
Hobart and Hubert's latest publication on the nature of bubbles is an interesting caveat to the Minski reading of inherent financial collapsology - that bubbles are necessary for pushing things forward, as an antidote to stagnation.
If the preceding claim about bubbles is true then the legalistic bent of Muslim bureaucracies not just in a Shari' perspective but also in the sense of the Islamic Secular with the personal, canon, monarchical constitutionalism is inherently "anti-bubble" erring markedly on conservativism.
Any contemporary sense of civilizational renewal within the terms and vocabulary of medieval fiqh textbooks is a contradictory project doomed to failure.